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Ryan Bridge: Look out Kiwis, your power bill is about to go up · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Lookout, Kiwi's your power bill is about to go up.
• 0:03
  Speaker 1: I know, I know. We're celebrating this morning in the
• 0:05
  Speaker 1: ocr the money back in your pockets is coming and
• 0:08
  Speaker 1: fation coming down. But MBA has warned the government that
• 0:11
  Speaker 1: electricity prices are likely to rise significantly over the next
• 0:16
  Speaker 1: two years. This is a story from Business Desk. See,
• 0:19
  Speaker 1: we have all seen the spot prices market increase skyrocket
• 0:23
  Speaker 1: even but we haven't felt that at home because our
• 0:26
  Speaker 1: gen taylors, the guys that we get it off, insulate
• 0:28
  Speaker 1: us by hedging. Right. However, getting power to us is expensive,
• 0:34
  Speaker 1: and we've just been talking to Grant McCallum from north
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  Speaker 1: And about this exact point. Forty percent of our bill
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  Speaker 1: is distribution and transmission. Forget you whether whether the wind blows,
• 0:45
  Speaker 1: you know, the sun shines, the rainfalls, whatever, just getting
• 0:48
  Speaker 1: it to us costs almost half of our total and
• 0:51
  Speaker 1: that job is done by essentially monopolies, the distributors, the
• 0:54
  Speaker 1: lines companies transpower. So the Commerce Commission regulates their profits, right,
• 0:58
  Speaker 1: we would expect them to do that. Five year contracts,
• 1:01
  Speaker 1: next contract up for a newle March, your household bill
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  Speaker 1: for electricity could go up fifteen dollars per month or
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  Speaker 1: one hundred and eighty dollars per year. For some households
• 1:12
  Speaker 1: that will be twenty dollars per month two hundred and
• 1:15
  Speaker 1: forty dollars per year. They say this is the NB advice.
• 1:20
  Speaker 1: There is a serious risk that some homes won't be
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  Speaker 1: able to afford heating, and we know what happens when
• 1:25
  Speaker 1: people can't heat their homes. The hospitals fill up, industry
• 1:29
  Speaker 1: and business field the squeeze and our thin growth forecast
• 1:32
  Speaker 1: could also be squeezed by something like this. So what's
• 1:36
  Speaker 1: the moral of the story. Well, basically, go and buy
• 1:38
  Speaker 1: yourself a nice warm jumper, get a hot water bottle,
• 1:42
  Speaker 1: and if you are single and living alone, you have
• 1:45
  Speaker 1: until April to find someone to cuddle at night twenty
• 1:49
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• 1:52
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• 1:58
  Speaker 1: Radio