It is about time the power sector got a rude awakening... valuations were getting to crazy high levels and seems like Mr Market forgot that the power sector in NZ is not 'risk free'.
[QUOTE=boysy;775564]Sounds like a bit of gamesmanship from rio Tinto the current price of aluminium is up about US$200 since the 2015 low when the smelter last had a go at the government and meridian from memory.
Yep its rinse and repeat threat, bluffing, lower the prices or we may close sorta spin, same old ,same old tired tactics.
There are are already existing AC transmission lines between Manapouri and Benmore. Transpower just need to build a DC station at Manapouri, change the type of wire on the towers, and develop switch-in/switch-out capability at Benmore.
Sounds like a bit of gamesmanship from rio Tinto the current price of aluminium is up about US$200 since the 2015 low when the smelter last had a go at the government and meridian from memory.
Yep its rinse and repeat threat, bluffing, lower the prices or we may close sorta spin, same old ,same old tired tactics.
Yep, that's how I see it too. Even if Rio Tinto does pull the plug Meridian will surely win as the Govt. will want to fast track the required transmission lines in order to see power prices fall and generation capacity be able to cope with the ever increasing demands for electricity. Megan Woods'4.5 wind farms per year won't be required.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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Originally Posted by percy
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