The confirmation Tiwai Point is going to reduce its electricity usage next month isn't proving to be great news for everyone. 

The aluminium smelter's usage agreements means Meridian Energy can request it scale back production to meet electricity demands. 

But Energy Resources Aotearoa Chief Executive John Carnegie told Ryan Bridge production shouldn't have to be reduced, and it's a sign the gas market needs to be revitalised.

He says the country isn't in great shape, adding with declining gas reserves comes the threat of black outs.

LISTEN ABOVE

The confirmation Tiwai Point is going to reduce its electricity usage next month isn't proving to be great news for everyone.  
The aluminium smelter's usage agreements means Meridian Energy can request it scale back production to meet electricity demands.  
But Energy Resources Aotearoa Chief Executive John Carnegie told Ryan Bridge production shouldn't have to be reduced, and it's a sign the gas market needs to be revitalised. 
He says the country isn't in great shape, adding with declining gas reserves comes the threat of black outs. 
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

Early Edition with Ryan Bridge

John Carnegie: Energy Resources Aotearoa CEO on Tiwai Point scaling back its electricity usage to meet demands

Rate cuts could arrive early as next month, banks are predicting.

Inflation fell to a 3-year low yesterday, reaching 3.3% in the June Quarter.

Although that falls outside of the Reserve Bank’s target band of 1-3%, banks have reacted positively to the move.

ANZ have cut their three year home loans rates to 6.35% and the two year rates to 6.49%.

ASB Senior Economist Mark Smith told Ryan Bridge they’re predicting two rate cuts before Christmas: a 25 bps cut in October, and another in November.

He said that factors such as pricing pressures, external inflation, and pressures in the housing market are beginning to ease, which the Reserve Bank can use as a positive sign that inflation will remain low once rates are cut.

LISTEN ABOVE

Rate cuts could arrive early as next month, banks are predicting. 
Inflation fell to a 3-year low yesterday, reaching 3.3% in the June Quarter. 
Although that falls outside of the Reserve Bank’s target band of 1-3%, banks have reacted positively to the move. 
ANZ have cut their three year home loans rates to 6.35% and the two year rates to 6.49%. 
ASB Senior Economist Mark Smith told Ryan Bridge they’re predicting two rate cuts before Christmas: a 25 bps cut in October, and another in November. 
He said that factors such as pricing pressures, external inflation, and pressures in the housing market are beginning to ease, which the Reserve Bank can use as a positive sign that inflation will remain low once rates are cut. 
LISTEN ABOVE

Mark Smith: ASB Senior Economist on the drop in inflation and potential interest rate cuts

Auckland Airport is being urged to be responsible with its charging of airlines.

A Commerce Commission draft investigation has found the airport's planned expansion is justified, and some price increases are necessary to fund the investment.

However, it found the organisation's targeted returns from airlines is around $200 million over what's reasonable.

It found that travellers would most likely bear much of that cost.

Board of Airline Representatives Executive Director Cath O’Brien told Ryan Bridge that this is the second period in a row where Auckland Airport has been found to be targeting excess profits.

She said that they’re targeting a return of 8.73% on aeronautical caps, against the Commission midpoint of 6.98%.

LISTEN ABOVE

Auckland Airport is being urged to be responsible with its charging of airlines. 
A Commerce Commission draft investigation has found the airport's planned expansion is justified, and some price increases are necessary to fund the investment. 
However, it found the organisation's targeted returns from airlines is around $200 million over what's reasonable. 
It found that travellers would most likely bear much of that cost. 
Board of Airline Representatives Executive Director Cath O’Brien told Ryan Bridge that this is the second period in a row where Auckland Airport has been found to be targeting excess profits. 
She said that they’re targeting a return of 8.73% on aeronautical caps, against the Commission midpoint of 6.98%. 
LISTEN ABOVE

Cath O'Brien: Board of Airline Representatives Executive Director on Auckland Airport targeting excess profits

A US poll finds the attempted assassination of Donald Trump has had little impact on voting intention. 

A Reuters poll by Ipsos shows of around 1200 voters, 43% are in favour of the Republicans and 41% intend to support the Democrats. 

Of all voters, 80% agreed the country was spiralling out of control. 

US correspondent Mitch McCann told Ryan Bridge prominent Democrat Adam Schiff has written a letter asking Joe Biden to step down. 

He says while the assassination attempt may have taken the spotlight off Biden, the issue of Democrats wanting him to step down isn't going anywhere.

On the other side of the divide, Republican vice president hopeful JD Vance is set to deliver his first speech to party faithful. 

The Republican National Convention continues in Wisconsin after the attempted assassination of Donald Trump over the weekend. 

McCann told Bridge the theme of the convention tonight is Make America Strong Again, with a focus on foreign policy and border security.

He says it follows last night's theme —Make America Safe Again— with a heavy emphasis on migrant crime.

LISTEN ABOVE

A US poll finds the attempted assassination of Donald Trump has had little impact on voting intention.  
A Reuters poll by Ipsos shows of around 1200 voters, 43% are in favour of the Republicans and 41% intend to support the Democrats.  
Of all voters, 80% agreed the country was spiralling out of control.  
US correspondent Mitch McCann told Ryan Bridge prominent Democrat Adam Schiff has written a letter asking Joe Biden to step down.  
He says while the assassination attempt may have taken the spotlight off Biden, the issue of Democrats wanting him to step down isn't going anywhere. 
On the other side of the divide, Republican vice president hopeful JD Vance is set to deliver his first speech to party faithful.  
The Republican National Convention continues in Wisconsin after the attempted assassination of Donald Trump over the weekend.  
McCann told Bridge the theme of the convention tonight is Make America Strong Again, with a focus on foreign policy and border security. 
He says it follows last night's theme —Make America Safe Again— with a heavy emphasis on migrant crime. 
LISTEN ABOVE

John Carnegie: Energy Resources Aotearoa CEO on Tiwai Point scaling back its electricity usage to meet demands

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