A "state-protected oligopoly" dominated by four major generator-retailers?

In this episode, Nick Stewart, CEO and Tim Ewen, Risk Insurance Manager, delve into the complexities of New Zealand's electricity market, covering high energy prices, their impact on manufacturing and employment, and the historical context of policy failures. Explore the government's conflict of interest due to its shareholding in major energy companies, the limitations imposed by the single Installation Control Point (ICP) rule, and the benefits of distributed energy solutions.

Have you noticed the parallels between New Zealand’s energy market and the grocery sector? You’re not alone - tune in to gain insights into the challenges and potential solutions for New Zealand's energy sector. 

Important time stamps:

(01:14) Electricity Market and Oligopoly: Discussion on New Zealand's electricity market being a state-protected oligopoly and explanation of the government's shareholding in major energy companies.

(02:41) High Energy Prices: Prime Minister Christopher Luxon's acknowledgment of high energy prices and the impact of high energy prices on manufacturing and employment.

(06:00) Energy Generation and Supply Issues: The lack of investment in new energy generation, the historical context of energy market reforms and their impact.

(21:00) Distributed Energy and Resilience: Benefits of distributed energy for community resilience and local energy generation.

(23:37) Comparison with Grocery Sector: Parallels between the energy market and the grocery sector – the illusion of choice for consumers across both.

(26:24) Peer-to-Peer Energy Networks: Nick’s experience with a peer-to-peer energy network and insights from the solar community project.

(29:19) Future Changes and Innovations: Suggestions for changes in the energy sector, including breaking up ICPs and investing in new generation.

The Adviser Talk is available on all popular streaming platforms, including Spotify and Apple Podcasts. 

• Nick Stewart is a Financial Adviser and CEO at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance and KiwiSaver solutions.

• The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

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