Recriminations flew after the power blackout on Monday, one of the coldest nights in New Zealand.
Energy Minister Megan Woods blamed a market failure and “commercial decisions”. According to the Dominion-Post, she pointed the finger at Genesis Energy, which had not turned on one of the Huntly power station’s units.
The government is said to be demanding answers from the industry.
Genesis chief executive Mark England said the company had been made a scapegoat and he will be asking the minister why.
Transpower has apologised after it asked lines companies to cut power in some areas to handle all-time-high demand for electricity, combined with insufficient generation, on one of the coldest nights of the year.
Transpower CEO Alison Andrew said there was enough generation to cover predicted demand on Monday evening. Continue reading “If recriminations could be turned into energy and stored, maybe the next power blackout could be avoided”
Wellington’s newspaper, The Dominion-Post, gave it to its readers straight: “I’m no saviour”—Ardern rejects saintly status”.
But would the crowd of 500 attending Labour’s Congress have believed it? They had stamped and cheered when, in opening the event, Peter Samuel Jackson (no, not the film director) had said:
“We have witnessed a masterclass in leadership and communications. We have a very special leader. Your leader, our premier, our prime minister, and NZ’s saviour”.
Not to be out-done, the event’s host, Michele A’Court ( as the Dom-Post went on) told the crowd:
“She has the best instincts of anyone I have ever met. She’s kind, compassionate and empathetic. She has a spine made of steel. And in moments of chaos, she has given us clarity. On our worst days, she has been her best self”.
Ardern was there to deliver the keynote address detailing the party’s “five point” economic recovery plan —- important stuff, surely, but reporters couldn’t resist asking her whether she too saw herself as “NZ’s saviour”.
She was quick, in her empathetic way, to deny it: Continue reading “Kerry McDonald worries about NZ’s increasing reliance on the govt (not a good one, he says) to manage our lives and futures”
Pressure may be mounting for a broad inquiry into the banking industry following recent incidents involving the biggest trading bank in NZ.
Agriculture Minister Damien O’Connor said this week banks are “bullies” (according to a Radio NZ report). It’s a sentiment shared by many New Zealanders.
This sentiment has been rekindled by the departure of ANZ’s CEO David Hisco who, it had been found, passed off charges for chauffeur-driven cars and the cost of storing his wine collection as business rather than personal expenses.
ANZ suffered a couple of regulatory blows last month with the Reserve Bank forcing it to hold more capital against housing and farm lending from June 30 and to use the standardised model for calculating its operational risk capital (ORC) rather than its own internal model. That’s because it had been using a modified internal model for calculating ORC since December 2014 without first getting RBNZ approval. Continue reading “Fallout from the Hisco affair is bound to spread to RBNZ moves to regulate bank capital”