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Economic weather report: Now we know why electricity inflation has been so high

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Uploaded by on May 20, 2009

Bernard Hickey delivers a fresh Economic Weather Report on electricity prices and why they've been rising faster than inflation over the last 8 years. The Commerce Commission has completed an investigation into the electricity market and a study by a US academic Frank Wolak has found that the big electricity producers overcharged by manipulating the market over that period to the tune of NZ$4.3 billion. Prices wee 18% higher than they needed to be.

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  • Why doesn`t the Government own the basic utilities like power and phone .yankees laugh at Mexicans cos they own their communications . Time to het out the guns I think

  • Are we about to revisit old clips of Max Bradford?

    Regardless, this is surely a huge scandal. Senior execs in these companies will have been handsomely bonused on these results, in part paid for by less fortunate individuals on fixed incomes.

    Will anyone be held to account?

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