Meridian Energy Says Power Prices to Remain Flat for all Customers in New Zealand

Meridian Energy Says Power Prices to Remain Flat for all Customers in New ZealandThe Australian government has showed little interest in renewable energy resources and still remains greatly dependent on the coal and gas fuelled electricity generation.

Looking at the apathy to move on to cleaner Meridian Energy, New Zealand's wind power expert company sees little or no opportunities for building and new generation there anywhere in the near future.

Mark Binn, the company's chief executive says, "We've been disappointed by the approach taken by the Abbott government to the review of the Renewable Energy Target (RET) and its attitude to renewables overall, particularly Mr Abbott's very clear personal antipathy to wind farms."

In another instance, Meridian Energy, which generates almost thirty three percent of the country's energy and is the leading power generator, said that the retail power prices are expected to remain flat in coming year.

Even though the company has added some energy charges for several customers in the North Island last month but in general it is following the trend of the boarder industry keeping the price under control as the market grows competitive.

Binns said that the retail market for all power companies is growing tough. Till the first half of the year energy prices slipped one percent for residential customers as well as small commercial users and two percent for the bigger corporate clients.