Mighty River Power quadruples profit
Fri, 22 Feb 2013 11:30a.m.
Mighty River Power has reported a near quadrupling of net profit to $75 million.
This comes at a time when demand for electricity is being described as flat.
Chief executive Doug Heffernan spoke to Firstline about the profit announcement this morning – watch the video.
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22/02/2013 4:42:31 p.m.
The old saying goes, Too much greed can make you end belly up.
22/02/2013 12:44:52 p.m.
Selling power to a captive market is easy, it is a *product* that people HAVE to have. It is obscene that they make such outrageous profits.
Over the past 20 years New Zealand power consumers have had some of the highest power price rises in the world.
Vital infrastructure shouldn't be about making large profits. It should be about providing the opportunity for business & society to develop & grow, not clipping the ticket every time the service is used.
Our energy system is fundamental to our economy - it should not be tapped as a source of profit itself.
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