Wholesale prices in the New Zealand electricity market have soared over recent weeks, climbing as high as NZ$1,000 per megawatt hour. North Island pulp and paper plants have temporarily closed down because of the spike in costs.
Associate Energy Minister Shane Jones has accused the big energy generators of profiteering, and said the government was investigating ways to force them to cut prices.
On top of that, Energy Minister Simeon Brown has announced plans to investigate the…
Read More…