Power companies' intentions to build new power stations have collapsed over the past year, writes Patrick Smellie of Businesswire.

The electricity sector is in for the most comprehensive overhaul since the late 1990s.

Energy Minister Gerry Brownlee says a big energy company shake-up is designed to give more power to consumers.

The Government has unveiled a shake up of the state owned power companies in an attempt to get more competition into the electricity sector.