The CTU's head says excessive dividends for shareholders are stopping power companies investing more in generation. 

The union says the partially Government-owned gentailers should re-nationalise. 

Energy Minister Simon Watts will make an announcement tomorrow on sector reform. 

Richard Wagstaff says gentailers have their priorities wrong. 

"Between 2016 and 2020, there's 1.2 billion in capital expenditure - that was about a fifth of the dividend payout. There's no more generated today than there was 10 years ago."

LISTEN ABOVE

The CTU's head says excessive dividends for shareholders are stopping power companies investing more in generation.&nbsp;
The union says the partially Government-owned gentailers should re-nationalise.&nbsp;
Energy Minister Simon Watts will make an announcement tomorrow on sector reform.&nbsp;
Richard Wagstaff says gentailers have their priorities wrong.&nbsp;
"Between 2016 and 2020, there's 1.2 billion in capital expenditure - that was about a fifth of the dividend payout. There's no more generated today than there was 10 years ago."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Richard Wagstaff: Council of Trade Unions President on the Government's upcoming announcement on energy sector reform

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0d40f2c4-e5a8-4d9e-84e8-b3680064c0c5/transcript

Advertisement