Jeanette Fitzsimons: How can the Minister have confidence in the board of Genesis Energy, when it told the Rodney District Council that it had sufficient gas arrangements to operate the proposed Rodney power station, but told the Electricity Commission that it does not have access to a sufficient, secure forward quantity of gas for it? Hon GERRY BROWNLEE: I am advised that the board of Genesis Energy has given the go-ahead for a consent to be sought, but has not made any decisions about the building of that plant. Jeanette Fitzsimons: What advice, if any, has the Minister received from the chair of the board about the companys Gasbridge project in New Plymouth to import liquefied natural gas to fuel its power stations, which, under international contracts, would tie the price of electricity to the international price of oil? Hon GERRY BROWNLEE: I am unable to answer that. I do know that New Zealand is a very prospective country. There are lots of opportunities for new gas finds, and this Government is encouraging people to go out and make those finds. Jeanette Fitzsimons: How can the Minister, then, have confidence in the board of Genesis Energy, when it proposes to build the Rodney gas-fired power plant and the Gasbridge liquefied natural gas (LNG) facility, which, together, will tie power prices for Kiwi households and businesses to the rising international price of oil, under the contracts that govern LNG trade? Hon GERRY BROWNLEE: I am advised that neither of those decisions has been made.
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Globalizing/nationalizing your resource is going to be a debacle; the US has been opening up power business buy out to foreign business interests Example NYS Electric and Gas is now owned by Spain and with this prices are sky rocketing… Ms Fitzsimons is asking poignant questions…