Energy Minister Welcomes Competition in Petrol

Energy Minister Max Bradford today welcomed news that a new competitor is to enter the New Zealand petrol market.

"That is tremendous news for consumers because it will force petrol prices down," Mr Bradford said.

"Since I became Minister of Energy I have had serious concerns about competition in the NZ petrol market.

"A study I commissioned earlier this year revealed there was cause for concern about petrol price margins," Mr Bradford said.

"The emergence of new competitors in the market will reveal whether consumers have really been seeing the benefits of a competitive market to date."

Mr Bradford said he would today release a further report on barriers to competition in the petrol market.

"My ultimate goal as Energy Minister is to see full competition throughout the energy market for the benefit of consumers, businesses and the economy. The Government is working towards that end not only in petrol, but most importantly in electricity where a package of reforms is to be announced by the end of the year."

"As far as I am concerned the consumer will be king when we get competition in those markets.