Shearer attempting to sabotage MRP share float?

Late on a Sunday night David Shearer has issued a press release warning that Labour will take action that may affect Mighty River Power shares bought in the float that launches tomorrow.

No details, just vague a warning.

Labour signals changes to electricity sector

David Shearer | Sunday, April 14, 2013 – 20:49

David Shearer is today signalling Labour’s intention to make changes to the electricity sector to stem the relentless rise in power bills and to ease future pressure on prices from foreign investors looking to boost profits at the expense of consumers.

“Over the past 15 years, the annual average household power bill has gone up by almost $770, even after inflation is taken out. Prices in New Zealand are rising faster than in our major competitor countries.

“I’ve spoken to Kiwis who are scrimping on heating their houses and are afraid to turn their electric blankets on because they simply can’t afford their power bills. That’s just wrong.

“The pressure on prices will only get worse as this Government sells our power companies to mostly foreign and corporate buyers. Those investors will want to push prices up even more to boost their returns.

“That’s not fair. That’s why Labour will take action.

“We are signalling that the future Labour Government will make changes to the sector so that New Zealanders considering purchasing shares in Mighty River Power, which go on sale tomorrow, are aware of that before investing.

“The Mighty River Power offer document already includes regulatory risk. But while we will detail our proposed changes in the near future, we believe it is responsible to signal our intentions now,” said David Shearer.

Warning now, details later. Who is behind this brain explosion?

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1 Comment

  1. Darryl

     /  15th April 2013

    Just a threat from Mr Shearer. Just goes to show that he and his party are not interested in the country. Power under the 9 years of a Labour Government, sky rocketed. If he is going to propose something tell the country now, what his Brain Explosions are. Twat.


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