be permitted to sell houses at a discount to the original
price agreed
My
My question is to the Minister of Energy and
What recent reports, if any, has she seen on the
state of the electricity
market, and does she
believe Government policy has the ability to
impact the market positively
policy has the ability to impact
Mr
Mr Speaker, I have seen the report of the electricity price review
established as part
of the Coalition agreement that found that
under the structures of
structures of the previous Government, the market is not
working for everyone. In the
two tier retail market is
developing leaving vulnerable
leaving vulnerable people behind. In answer to the second part of
the
Government's policies are already having a positive
We have introduced a winter energy payment, helping
payment, helping over 1 million Kiwis heat their homes over
winter and we're insulating thousands
of homes under our Warmer
Kiwi Homes Initiative. We have begun the
electricity pricing review to ensure
prices are affordable
for families and we are leading a transition
towards affordable
towards affordable renewable energy like hydrogen and away
from expensive and vulnerable fossil
fuels. What is the average price for
electricity futures per megawatt
hour for
electricity futures per megawatt
issues that we are seeing around our electricity network at the moment
which are due to vulnerabilities and
should see... Hang on.
Hang on. If someone wants a point of order, they stand
and they stay standing up, they don't sit down. .
Point of order. A point of order,
Jonathan Young. Sir, I asked a
very specific question. Yes, yes and
she hasn't finished
hasn't finished her answer question. She might want to
take a point of order at the end of it. Mr
Speaker, the
order at the end of it. Mr Speaker,
we are seeing at the moment in our electricity system due to problems
in the gas infrastructure that
is seeing around
in the gas infrastructure that is
return to the normal figure by December. The
return to the normal figure by
reports I am getting to officials are that these issues should
be repealed. What I will also tell
the member is that new wind farm has
alleviated costs for electricity
around 60
alleviated costs for electricity
depending on the... That's enough, thank you.
depending on the... That's enough, thank you. A
depending on the... That's enough,
of order. Sir, we are often chastened by not getting
to the point and the answer never came, but
we had a complete monologue
of recent events. I asked a
very specific question that the minister
should be able to answer
within one sentence. And she did. Might have
been buried in the middle.
been buried in the middle.
There is not any chance, Mr Speaker, any analysis she might deal
with that answer would come anywhere near
being an answer to the very specific
question that was put in front of
the minister. And I think
it's unreasonable to dismiss...
Sit down. Sit down.
unreasonable to dismiss... Sit down.
I'm requiring the member to sit down. He's made his
point of order and if
and if the member had...
Well, you have made all the point of order you're going to make at
the moment. The minister quite
specifically said that the
electricity she has been advised
that electricity prices in
December will return to their
normal levels. If that's not an answer, it
will return to their normal levels.
not only addressing it, it answered it. Jonathan Young,
further supplementary. What is
the average price for electricity futures
per megawatt hour for
December 2018 as can be found on
megawatt hour for December 2018 as
does that compare to the average of about
does that compare to the average of
the complexities of what we're seeing in the electricity generation
system, I am not prepared to answer
that question in this House at the
moment, but if the member
wants to put nit writing, I will provide him
with a full
Jonathan Young. Shouldn't the Minister be paying close attention
to the price of electricity futures
given the signal they send
about
can assure that member that what I am doing is paying
very close attention
am doing is paying very close
conditions around the security of supply in our electricity system.
What I can tell the member that one of the most important things
to be monitoring at the moment is
progress on repeers to
the glass infrastructure
on repeers to the glass on
on repeers to the glass infrastructure problems that we are
seeing at the moment that I
receive frequent updates on. I can
also advise that member that I am
receiving frequent updates on
advise that member that I am
on the levels of the hydrolakes. I'll tell that member
that hydrostorage is at as of 2 November
for this time of the year. The NZX energy data, however, that gives a
daily update indicates that over the
past four weeks, up to 2 November,
hydrostorage was
past four weeks, up to 2 November,
what a responsible minister of energy should be monitoring.
what a responsible minister of energy should be monitoring. A
point of order, the Hon
Gerry Brownlee. That was the most
fascinating answer from the Minister. Perhaps
she'd like to tell the answer what
questions she was answering.
her interjection during that. And I won't punish the member
for his disorderly
disorderly point of order. Supplementary question,
Supplementary question, David Seymour. If the electricity market
will be back to normal by
December, why has Genesis ordered four
shipments totalling 120,000 tonnes
of Indonesian coal
to be delivered between December
of Indonesian coal to be delivered
Order! The member knows that that's not this Minister's responsibility.
Point of order, Mr Speaker. A
point of order, David Seymour. Mr Speaker,
the Minister has made a
claim that the current problems are due to a
gas shortage which will be
alleviated by December. I'm
asking how can she reconcile that with
other facts she should be
That's not what the member asked. He said why. He didn't ask how it can
be reconciled. Gerry Brownlee. Mr
Speaker, the why
question goes directly to the prime
purpose of having a
having a Minister of Energy and Resources. It is to make
sure that there is security of supply
in the market. Now, the question
there is security of supply in the
no problem, as the minister said... That point of order is a much
better one than the one we had previously.
The Minister will address
the question. Quite clearly, Mr Speaker,
that Genesis Energy
does not have the kind of confidence in the
infrastructure around the gas supply
system that the opposition and
the fossil fuel industry seem
to have. What recent events is showing us is
what a pe curious security supplies
situation we're in when
we need to rely on gas for peaking
and that's why this Government is intent
on building on a resilient energy
system with more resilient forms
of
Will the Minister be taking any action to guide Genesis to make
better investment
better investment decisions given they're clearly out of step with the
rest
they're clearly out of step with the
there have been decisions made already around the phasing out of
using the coal ranking
units at Huntly. This Government is
giving many signals and guidance
to companies such as Genesis, such as
carbon neutrality by 2050. I think
that provides more
than enough system and what this Government is
doing is putting in place
the
My
My question is to the Minister of Commerce and Consumer
What reports has he seen on banking culture
What reports has he seen on banking
Mr
Mr Speaker, a review of bank conduct released yesterday
released yesterday by the Financial Markets Authority
Markets Authority and the bank of New Zealand has identified instances
of poor conduct by staff and
weaknesses and bank processes.
The findings of the report are
a concern to the Government as we want a
fair banking system. Although
the conduct and culture