1 00:00:00,120 --> 00:00:03,160 Speaker 1: The Energy Competition Task Force is making moves to bring 2 00:00:03,200 --> 00:00:04,640 Speaker 1: down the power bills, and good on them, because we 3 00:00:04,680 --> 00:00:08,080 Speaker 1: all want that. It is recommended that the Electricity Authority 4 00:00:08,160 --> 00:00:11,280 Speaker 1: crack down on gen tailors who neglect to be fair 5 00:00:11,360 --> 00:00:14,480 Speaker 1: and competitive. And now the authority is seeking feedback on 6 00:00:14,520 --> 00:00:17,640 Speaker 1: the proposed approach, and we've got the CEO of Rewiring 7 00:00:17,720 --> 00:00:20,040 Speaker 1: ALT role with us, Mike Casey, Good morning. 8 00:00:19,760 --> 00:00:22,720 Speaker 2: To you, given morning, Andrew, there you go, very good. 9 00:00:22,800 --> 00:00:25,760 Speaker 1: So what would the monitoring companies actually do and how 10 00:00:25,760 --> 00:00:28,080 Speaker 1: would this make our power bills smaller? 11 00:00:28,880 --> 00:00:31,440 Speaker 2: Well, this is pretty exciting because one of the big 12 00:00:31,480 --> 00:00:33,800 Speaker 2: things that the independent retails are the ones that don't 13 00:00:33,840 --> 00:00:36,239 Speaker 2: generate electricity have been sort of talking about for a 14 00:00:36,280 --> 00:00:39,840 Speaker 2: long time, is it hadn't been particularly their playing field. 15 00:00:39,840 --> 00:00:42,159 Speaker 2: So the idea behind this change is essentially that the 16 00:00:42,840 --> 00:00:45,639 Speaker 2: large into town with the likes of Contact Angie, Meridian, 17 00:00:46,760 --> 00:00:51,160 Speaker 2: Mercury and so they are going to have to sell 18 00:00:51,240 --> 00:00:53,960 Speaker 2: power to the independent generators at the same price they 19 00:00:54,000 --> 00:00:57,280 Speaker 2: sell it to themselves. And that's just pretty exciting. There's 20 00:00:57,320 --> 00:00:58,680 Speaker 2: a lot of work that needs to be done to 21 00:00:58,680 --> 00:01:00,800 Speaker 2: make sure that this actually does have happen and happens 22 00:01:00,800 --> 00:01:02,960 Speaker 2: effectively and one thing that we're sort of calling for 23 00:01:03,000 --> 00:01:05,479 Speaker 2: it rewiring. Else said, oh, is really trying to figure 24 00:01:05,480 --> 00:01:07,479 Speaker 2: out how to make sure that this is mandatory rather 25 00:01:07,520 --> 00:01:09,600 Speaker 2: than just sort of policing it maybe after the fact. 26 00:01:10,360 --> 00:01:14,959 Speaker 1: Okay, So the question is if they do manage by monitoring, 27 00:01:15,000 --> 00:01:17,520 Speaker 1: which is a bit of scowling, they manage to get 28 00:01:17,560 --> 00:01:20,160 Speaker 1: these gent tailors, the big four, you know, who have 29 00:01:20,480 --> 00:01:23,760 Speaker 1: both sides of the equation, If they do manage to 30 00:01:24,319 --> 00:01:28,360 Speaker 1: offer this stuff to Independence, will those generators bump up 31 00:01:28,360 --> 00:01:30,720 Speaker 1: the price to keep the same level of profits that 32 00:01:30,720 --> 00:01:32,480 Speaker 1: they're getting at them at the same time, so will 33 00:01:32,480 --> 00:01:35,160 Speaker 1: we actually get a lower price? 34 00:01:36,440 --> 00:01:38,520 Speaker 2: That is potentially an issue, but I think on the 35 00:01:38,560 --> 00:01:40,920 Speaker 2: other side of it, it's quite exciting. We've seen most 36 00:01:40,920 --> 00:01:44,120 Speaker 2: of the innovation around pricing for consumers. Most of the 37 00:01:44,120 --> 00:01:47,560 Speaker 2: innovative products coming out, such as things like free hour 38 00:01:47,760 --> 00:01:50,480 Speaker 2: of power, things like that, are coming from the Independence, 39 00:01:50,520 --> 00:01:53,520 Speaker 2: So it being a playing field, I am very, very 40 00:01:53,600 --> 00:01:56,840 Speaker 2: optimistic that this will cause a downward pressure on power prices, 41 00:01:56,840 --> 00:01:58,920 Speaker 2: more innovation in the space, which is ultimately best for 42 00:01:58,920 --> 00:02:01,520 Speaker 2: the customer. That is something the regulator is going to 43 00:02:01,560 --> 00:02:03,080 Speaker 2: have to make sure. Right at the end of the day, 44 00:02:03,080 --> 00:02:04,520 Speaker 2: there is the theory that it can put down with 45 00:02:04,520 --> 00:02:07,960 Speaker 2: pressure on prices, but we have seen the path that 46 00:02:07,960 --> 00:02:09,440 Speaker 2: that is not necessarily always the case. 47 00:02:09,639 --> 00:02:13,240 Speaker 1: In an ideal world. Would you prefer that generators are 48 00:02:13,360 --> 00:02:15,520 Speaker 1: absolutely separated from retailers. 49 00:02:16,440 --> 00:02:19,720 Speaker 2: I think that's the big drastic step that the government 50 00:02:19,800 --> 00:02:21,160 Speaker 2: is going to have to be looking at to see 51 00:02:21,160 --> 00:02:23,680 Speaker 2: whether that is the ultimate outcome. This is kind of 52 00:02:23,680 --> 00:02:26,120 Speaker 2: a bit of a lower touch step that might resolve 53 00:02:26,160 --> 00:02:27,960 Speaker 2: some of the issues and do it far, far faster. 54 00:02:28,040 --> 00:02:29,480 Speaker 2: And I think the thing that we're seeing now for 55 00:02:29,520 --> 00:02:31,760 Speaker 2: the customers of New Zealand, things are going to be 56 00:02:31,800 --> 00:02:33,920 Speaker 2: done really quickly because power builds keep rising in this 57 00:02:33,960 --> 00:02:35,200 Speaker 2: country and they don't need to be. 58 00:02:35,760 --> 00:02:37,400 Speaker 1: And part of the reason they keep rising is that 59 00:02:37,400 --> 00:02:39,040 Speaker 1: we keep on running out of power because it keeps 60 00:02:39,040 --> 00:02:41,560 Speaker 1: on being dry and everything is renewable. Eighty five percent 61 00:02:41,560 --> 00:02:44,320 Speaker 1: of our power is renewable. So you know, you got 62 00:02:44,360 --> 00:02:45,679 Speaker 1: your finger on the pulse. Are we going to have 63 00:02:45,720 --> 00:02:47,040 Speaker 1: another power crisis this winter? 64 00:02:48,000 --> 00:02:50,480 Speaker 2: Well, I mean I keep my finger on the pulse 65 00:02:50,480 --> 00:02:52,160 Speaker 2: a lot because i have a huge amount of soul 66 00:02:52,320 --> 00:02:54,080 Speaker 2: on my farm and I'm doing very well out of 67 00:02:54,120 --> 00:02:56,359 Speaker 2: that at the moment. Selling at the wholesale rate where 68 00:02:56,360 --> 00:02:59,280 Speaker 2: the price of power is incredibly high. So I do 69 00:02:59,360 --> 00:03:01,240 Speaker 2: have my finger on the a lot in that regard. 70 00:03:01,400 --> 00:03:03,040 Speaker 2: It isn't raining at the moment. I was just on 71 00:03:03,040 --> 00:03:04,959 Speaker 2: the shores of Lake Chippo a couple of days ago, 72 00:03:05,000 --> 00:03:07,839 Speaker 2: and it's looking very, very dry. What we do every 73 00:03:07,880 --> 00:03:09,720 Speaker 2: year is we sort of sit there and wait and 74 00:03:09,760 --> 00:03:11,880 Speaker 2: pray for rain. Sometimes it comes. In the case of 75 00:03:11,880 --> 00:03:14,799 Speaker 2: twenty to twenty four, it didn't. So you know, it's 76 00:03:14,840 --> 00:03:16,120 Speaker 2: all going to come down to the work of gods 77 00:03:16,120 --> 00:03:19,000 Speaker 2: at the moment, see how this energy industry copes with 78 00:03:19,080 --> 00:03:21,760 Speaker 2: the current shortage of water. It's not looking good at 79 00:03:21,760 --> 00:03:23,680 Speaker 2: the moment. And so yes, anything that we can do 80 00:03:23,760 --> 00:03:28,200 Speaker 2: in the space to improve innovation and also roll out 81 00:03:28,200 --> 00:03:30,840 Speaker 2: alternative forms of generation like riftop solo on homes and 82 00:03:30,880 --> 00:03:32,680 Speaker 2: on farms is going to make a massive difference to 83 00:03:33,280 --> 00:03:34,240 Speaker 2: the outcome for customers. 84 00:03:34,560 --> 00:03:36,720 Speaker 1: All Right, Mike Casey, thank you so much. Mike Casey 85 00:03:36,840 --> 00:03:39,440 Speaker 1: is the CEO of Rewiring ah Tier. 86 00:03:39,560 --> 00:03:43,520 Speaker 2: Right for more Familiarly edition with Ryan Bridge. Listen live 87 00:03:43,640 --> 00:03:46,640 Speaker 2: to news talks it be from five am weekdays, or 88 00:03:46,720 --> 00:03:48,640 Speaker 2: follow the podcast on iHeartRadio.