Business electricity costs soaring

RNZ reports:

Businesses are being hit by massive rises to their power bills as dry weather and a natural gas shortage wreak havoc in the electricity market.

Which Government banned further natural gas exploration?

RNZ understands the new power contract for supermarket operator Foodstuffs is 70 per cent more expensive.

This will flow through into food prices.

This is the monthly average wholesale price for NZ for the last five years. In 2016 and 2017 it was between 5c and 15 c per KWh. In 2021 it has been shooting up every month and the average for May 2021 was 30.2 c per KWh – higher than the retail price.

Sums it up nicely.

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