Celebrating 25 Years of Scoop
Retain Energy Companies Says NZ First
Media Release
28 April 2008
Retain Energy Companies Says NZ First
The sale of Vector’s Wellington electricity network to Cheung Kong Infrastructure for $785 million represents the serious loss of yet another local asset, says New Zealand First economic development spokesman Doug Woolerton.
Cheung Kong is reportedly the largest listed infrastructure company in Hong Kong with investments in energy, transport and water infrastructure in a number of countries including Australia.
Mr Woolerton said overseas bidders were continually lining up to buy assets that were once owned outright by New Zealand taxpayers, ratepayers or consumers and it was a pity to see yet another one go.
“The loss of energy infrastructure to overseas interests is a blow to Wellington electricity consumers whose lines pricing now depends on the whims of a boardroom in Hong Kong.
“The profits will go offshore and the company will no doubt bring in its own workers from China under the Free Trade Agreement to carry out maintenance work.
“New Zealanders should own their energy networks. They are too important to be flogged off overseas,” said Mr Woolerton.
ENDS
Gordon Campbell: On The Government’s Bizarre Hostility To A Capital Gains Tax 
CORANZ: Avoid Repeat Of Past Orange Roughy Fishery Collapses
New Zealand Treasury: Debt And Deficits Accentuate The Fiscal Challenge Of An Aging Population
Biosecurity NZ: Biosecurity New Zealand Prepares For School Holidays
Green Party: NZ Must Urgently Help Whanau In Lebanon
NZ Government: Parliament Bill Passes First Reading
Greenpeace: Greenpeace Occupies Straterra’s Wellington HQ In Seabed Mining Protest
