Huia Burt: Electric Kiwi CEO on the proposed changes to the electricity sector

High hopes for proposed changes to the electricity sector. 

The Electricity Authority is proposing new rules, giving independent power companies the same access to hedge contracts and access to the same wholesale prices. 

Electric Kiwi was forced to turn away new customers last winter due to surging wholesale prices. 

Chief Executive Huia Burt told Mike Hosking these changes will be a game-changer. 

She says this is what they've been fighting for – a level playing field, for sharper pricing, more investment, and more affordable energy. 

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Episode Transcript

Speaker 1 (00:00):
So a finger wagger. Is it more than that? For
the gent tailors in our power sector? The big four Meridian, Contact,
Mercury and Genesis told to play by the new anti
discrimination rules and simple terms, you can't cut a better
deal with your own retail outlet than you do with
anybody else. Electric Key we CEO. Who are your berts
with us? Morning?

Speaker 2 (00:15):
Good morning mate?

Speaker 1 (00:16):
You like it?

Speaker 2 (00:18):
Yeah, it's fair to say that. Yeah, this is what
we've been fighting for. A level playing field will mean
sharper pricings. It will mean that investment will happen and
we should see more affordable energy for all New Zealanders,
which is just absolutely brilliant.

Speaker 1 (00:34):
Do you think they'll play ball or fight it or
fudge it?

Speaker 2 (00:39):
Well, you know, I think that there will be some pushback.
Would be crazy to think not. But you know, I
think all the gent Tellists think about the long term
benefits to New Zealand of greater competition. This is it
just about the short term or protecting their patch. This
is about really getting our economy going and the delivering

(01:00):
affordable energy to all New Zealanders.

Speaker 1 (01:02):
As a gent Taylor argument, you know, forget what whats
have said. For now should they be split.

Speaker 2 (01:10):
You know, we're really happy that the energy regulators are
going down this pathway. But if these rules, even if
they're in forced, if they don't deliver those competition outcomes
for New Zealand, then absolutely we should keep going down
that pathway through the options that they're presented, all the

(01:30):
way through to separation.

Speaker 1 (01:32):
Okay, a lot of people texting me on the idea
that all they do is bump up the deal to
their retail arm. In other words, they fudge it, and
therefore there are offering you what their retail arms offer,
but it's not as trimmed as it could be.

Speaker 2 (01:44):
No, there's really strong evidence that the bird gent tailor's
retail arms are being cross subsidized by extremely high profits
and generation, and those extremely high profits and generation because
I has been kept on a knife edge for so long.
So yeah, we we believe that with these new regulations

(02:08):
that having equal access to those deals will create really
great competition and better outcomes the New Zealanders.

Speaker 1 (02:17):
I'm not going to hold you to it, but so
much power bills four hundred dollars a month and you
get a new deal, what could you do it for?
Three ninety nine three twenty two fifty. What's the difference.

Speaker 2 (02:27):
Hey, well, yeah, I can't. I couldn't tell you that
right now, but I do know that. Yeah, the pricing
that we see versus what the internals are getting, as
you know, significantly higher. So we should be able to
offer better deals.

Speaker 1 (02:46):
Fantastic sooner the bit. I'm nice to talk to you.
Who are you about? Who's the Electric key? We ceo?
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