ELECTRICITY

Crown steps into monitor Kiwi power sector

The New Zealand government is to establish a new governing authority for the electricity industry, following insufficient support for industry "self governance".

Crown steps into monitor Kiwi power sector

Energy Minister Pete Hodgson today said it was clear the industry's attempt to reach agreement on a new self-governance structure had stalled after more than two years of intense effort.

"The referendum results announced today show that the proposed self-governance arrangements do not have enough support from the industry and consumers to proceed," Hodgson said.

"The alternative has always been for the Government to appoint a board to govern the electricity industry. Preparations to establish this body began last month when it appeared likely the industry's efforts would fail."

He said he would be announcing key decisions about the government-appointed board and its structure next week.

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