Plans for a publicly owned renewable power company funded by the taxes of the super-rich were announced by the Greens at Dunedin\u2019s historic gasworks yesterday, which \u2018\u2018rightly places fossil fuels where they belong \u2014 in a museum\u2019\u2019.<\/p>\n
Co-leaders Chloe Swarbrick and Marama Davidson set out the Green Party\u2019s energy policy, a package intended to lower power bills alongside medium- and long-term investment in a resilient, renewable-powered economy.<\/p>\n
Ms Swarbrick said, if elected, the party would establish a publicly owned power company dubbed KiwiPower, using $980 million from the party\u2019s \u2018\u2018super-rich tax\u2019\u2019.<\/p>\n
KiwiPower would invest in renewable firming capacity to manage New Zealand\u2019s \u2018\u2018dry year problem\u2019\u2019, where low hydro lake and wind generation contributed to energy shortfalls.<\/p>\n
The government\u2019s proposal to address dry years \u2014 an $1 billion LNG terminal in Taranaki \u2014 would direct New Zealanders\u2019 money into \u2018\u2018greater volatility through investing in more fossil fuel importation\u2019\u2019, she said.<\/p>\n
\u2018\u2018We are showing that we can have a guaranteed return on investment through lower power bills, security for industry and manufacturing … through the equivalent investment in KiwiPower, which will provide that firming, effectively backup generation.\u2019\u2019<\/p>\n
Larger power companies would be required to provide a portion of their firming capacity to KiwiPower, which would then make it available to the rest of the market.<\/p>\n
The party\u2019s policy also included zero-interest clean energy loans, renters\u2019 right to solar, legalising plug-in solar and expanding the government\u2019s Warmer Kiwi Homes grants policy to cover more upgrades.<\/p>\n
Asked if the policy was a bottom-line for any coalition talks, Ms Swarbrick said New Zealanders should make it an \u2018\u2018absolute bottom line for all political parties\u2019\u2019.<\/p>\n
The co-leaders spoke at the Dunedin Gasworks Museum, New Zealand\u2019s first and last site of coal gas manufacturing.<\/p>\n
Ms Davidson said \u2018\u2018revolutionising\u2019\u2019 the energy system was key to better financial and environmental outcomes.<\/p>\n
\u2018\u2018We stand here today in this building that rightly places fossil fuels where they belong \u2014 in a museum.\u2019\u2019<\/p>\n
Though student flats would be eligible for renters\u2019 solar rights, Ms Swarbrick acknowledged students were not in a position to buy plug-in solar \u2014 \u2018\u2018this is why we need a whole transformation of our current economic system\u2019\u2019.<\/p>\n
On Sunday, New Zealand First leader Winston Peters said solar policies previously announced by National and Labour \u2018\u2018tinker around the edges\u2019\u2019 of the issue and instead pledged to invest in surveying for offshore oil and gas basins for domestic use and international export.<\/p>\n
Ms Swarbrick said the proposal was \u2018\u2018setting our money on fire\u2019\u2019.<\/p>\n
\u2018\u2018Even if there were a hypothetical new source to be found, that would be inherently finite.\u2019\u2019<\/p>\n
\u2018\u2018What we are talking about investing in is tapping into the abundant, literally renewable energy.\u2019\u2019<\/p>\n