Govt’s aim for good return on ‘cheap’ power
PA Wellington The Government would look for a good return on the electricity it sells to 'overseas companies interested in developing exporti based industries in New Zealand, said the Minister of 'Energy (Mr Birch) yesterday. ■ Last year’s announcement i that ‘surplus electricity would be available, had met 'with a teady response, Mr Birch told ’ Wellington accountants in a prepared :'address.
Firm proposals, and preliminary inquiries had been received from about 12 com-
panies. Serious negotiations were now under way or about to begin with about six of the companies, he said.
The products involved included aluminium, nickel, ferro-silicon. and silicon carbide.
‘The surplus is being offered at incentive rates as an inducement for new industries to be established in New Zealand, but this does not mean that they are to be subsidised.” said Mr Birch. “For the electricity involved, one of the Government’s conditions is that there will be a good rate of return,” he said.
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Press, 27 February 1980, Page 2
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164Govt’s aim for good return on ‘cheap’ power Press, 27 February 1980, Page 2
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