Smoking a billion dollars of Green on a fourth energy company is madness

The Taxpayers' Union is slamming the Green Party's idea to blow what it estimates to be $980 million on a fourth energy company when the Government already owns majority shares of three. Taxpayers' Union spokesperson Tory Relf said:

"Taxpayers already own majority shares of Meridian, Mercury, and Genesis. Nationalisation would be one thing, but the Greens have invited a harebrained scheme to blow nearly a billion on creating a fourth."

"What's worse is that even if Kiwipower worked, it would work to destroy the value of the 'family silver', the Greens say they want to protect."

"The Greens can't have it both ways. Instead of trying to create a solar energy company to kill the companies taxpayers already own, New Zealanders would be far better off if politicians got out of the way and focused on deregulation to maximise competition and options in the energy sector to drive down energy prices."