Outgoing Transpower chair Keith Turner says the country's electricity sector needs real reform and changes around the edges will not do.
And he says there are doable changes, such as introducing the single buyer model, that will reduce the share price of the so-called big four gentailers, and ultimately lead to lower prices for consumers and a more productive economy.
Keith leaves after a 50-year career in electricity here and in Australia that has included stints as chief executive of one of Meridian Energy and leading the setup of the country's grid operator, Transpower, where he finished as chair last week.
Keith was also pivotal as one of the members of the 1989 Electricity Taskforce that laid out the blueprint for the reforms for the electricity industry we have today.
But it is a system that is now delivering high prices to consumers and high profits to four generator-retailer companies.
Photo: Supplied by Transpower / 123rf
Update: Friday June 13. In our live discussion on Wednesday, 4 June about electricity market reform, former Transpower Chair Keith Turner made statements about the consultancy leading the review, Frontier Economics. RNZ subsequently made that interview available online before undertaking an inquiry of its own regarding those statements. RNZ accepts that certain statements made by Mr Turner were inaccurate and without foundation. RNZ understands from Frontier that it has a strong reputation in its field in Australia and is actively engaging with almost every retail generator in that jurisdiction at the present time. RNZ unreservedly withdraws those statements and apologises to Frontier for publishing Mr Turner’s statements without undertaking any independent verification.
