Sky high energy prices could have detrimental flow on effects - both regionally and nationally
Sky high energy prices could have detrimental flow on effects - both regionally and nationally
10 August 2024
Wholesale power prices have doubled in the past three weeks.
As a result, Hawkes Bay mill Pan Pac's had its pulp production operations on standby all week.
Major Electricity Users' Group chair John Harbord says some businesses won't survive the costs.
He says Pan Pac alone represents 30 percent of Napier Port's business - and other businesses depend on its chips for their own products.
He says if those wood chips aren't available, its could mean they too are no longer viable..
He says the effects will ripple right through the economy.
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