Energy Minister Welcomes Fletcher AnnouncementEnergy
Energy Minister Max Bradford is delighted that Fletcher Challenge Energy is entering the wholesale and retail petroleum markets in New Zealand.
"By April next year both Fletcher Challenge and Liberty will be competing in the petrol retail market, and that will lead to more choice and cheaper prices for consumers," Mr Bradford said.
"Since I became Minister of Energy I have had serious concerns about competition and price margins in the New Zealand petrol market, backed up by research which I commissioned earlier this year. I am thrilled to see competition finally emerging.
"Fletcher Challenge has indicated it will be offering a price difference to customers, which will reveal whether consumers have really been seeing the benefits of a competitive market to date."
Mr Bradford said the prospects for full competition throughout the energy industry in New Zealand were looking good, with today's announcement following close on the heels of news that Shell and Todd Petroleum Mining would enter the gas market early next year.
"The Government is actively working to achieve the same sort of competition in electricity. We are close to announcements about a package of further reforms targeting all levels of the electricity sector to achieve efficiency and full competition for the benefit of consumers, businesses and the economy.