New plan to keep power prices down

5.30 pm

New measures to save power and keep electricity prices down were agreed on by the electricity industry today.

Energy Minister Pete Hodgson met with industry representatives and consumer groups this morning.

He said they have agreed on several steps to deal with the danger of power supplies being disrupted by low hydro-lake levels.

More retailers will offer financial incentives for households to cut their use of power and whole cities will also be encouraged to save power.

Mercury Energy has already announced that it will buy back saved power from individual consumers.

Mr Hodgson said Meridian Energy was also looking to reward communities as a whole who reduced power.

The country's biggest electricity user, Comalco has agreed to allow interruption of supplies to its Bluff aluminium smelter if there is a problem elsewhere on the network.

Mr Hodgson said Transpower has also removed a constraint in Taranaki to allow greater supplies from thermal plants there.

The electricity industry would be releasing daily reports on power saving, while commercial businesses and other large electricity users would be offered electricity audits to help them reduce consumption, he said.

Feature: Electricity

Energy Efficiency and Conservation Authority