ENERGY REFORMS PREVENT PRIVATISATION; ENSURE LOWER PRICES TO CONSUMERS

ACT's criticism of the Government's proposed energy reforms are further evidence of Richard Prebble's unfinished agenda of "privatisation at all costs", Deputy Prime Minister and Treasurer Winston Peters said today.

"Unlike ACT, who would prefer to flick ECNZ to foreign owners, New Zealand First will keep the company in taxpayer hands and ensure lower electricity prices for all New Zealanders.

"ACT's comments are typical of a party lead by privatisation zealots that helped cause New Zealand's current account deficit, in the first place.

"But they are right in one respect - the reforms will reduce the value of ECNZ because they remove its monopoly status, which we will not confer by sale to a foreign owner and thereby maintain higher-than-fair prices to electricity consumers.

"By keeping the assets in our hands and ensuring competition and no monopoly, prices to electricity consumers, householders and New Zealanders will be dramatically reduced," Mr Peters said.

"In short ACT is right - our decision is anti-privatisation and pro-consumer - something that ACT has never stood for.

"New Zealanders can be thankful that New Zealand First is in Government, providing a steadying, moderating influence," Mr Peters said. said.