ELECTRICITY REFORMS MEAN LOWER PRICES

The Government's electricity reforms are all about lower power prices for consumers, not protecting the vested interests of power companies, State Owned Enterprises Minster Tony Ryall said today.

Mr Ryall said the Government remained committed to separating ECNZ and splitting power companies' line and energy businesses.

"Competition in the generation sector has seen wholesale prices fall by 16% over the past few years. Yet our power bills keep going up. This can't go on.

"Splitting ECNZ will see wholesale prices fall further. The Government wants to make sure these lower prices are passed on to domestic consumers, not power companies.

"We are serious about getting power prices down. Those on a safe wicket and doing quite well out of the current system are predictably opposed to change. Fortunately, most New Zealanders want lower prices and support the Government."