Energy SOEs will front up to taxpayers

Taxpayer-owned energy companies will open themselves up to scrutiny at public meetings starting next month.

Power companies Genesis Energy and Mighty River Power, coal company Solid Energy and national grid operator Transpower say they will host open meetings in line with a government push to encourage greater transparency from state-owned enterprises.

The country's biggest generator, Meridian, says it is possible it will follow suit but had no firm plans yet.

Auckland-based Genesis says it "plans to do something", most likely in November.

A Genesis spokesman said there had not been a directive to hold a meeting but there had been "encouragement" from the Beehive.

Mighty River Power says it is working through details of a meeting, which would follow the tabling of its annual report in Parliament in October.

Last year Solid Energy held the first meeting which was marked by a custard pie thrown by an environment activist at chief executive Don Elder but praised by Government ministers and welcomed as a step towards providing some of the information required from listed companies.

The meeting had an overview by the chairman John Palmer and a more detailed explanation of the business and its performance by Elder followed by questions from the floor.

Invitations were sent to interested groups and public notices appeared in newspapers and websites. State-owned enterprises do hold public meetings but these usually relate to specific projects or issues.

A Transpower spokeswoman said it had sent out 384 invitations and it would advertise the meeting at Te Papa.

Given the grid assets were owned by all New Zealanders the company wanted to be as accessible as possible about the complex transmission sector.

"Over the last two years, Transpower has recognised the need to become more transparent in our operations, and consult more with our stakeholders," she said.

Domestic Energy Users Network spokeswoman Molly Melhuish said the power generators and retailers would face a roasting from residential consumers who are struggling with high electricity bills that have risen by more than 70 per cent in the past decade.

The veteran energy campaigner said she had never known such frustration and anger at power companies.

OPENING UP

SOEs to set meeting dates so far:

* Solid Energy,Wellington, October 14.
* Transpower,Wellington, October 23.