Submission
Which option do you prefer?
Option Two – The alternative option – Keep Aurora Energy
Further comment
Look at the separation of Transpower in 1994 and the divestment of ECNZ in 1996 as a comparison. There is zero logic in selling our family jewels as any buyer is going to rort the sale cost and profit from the peasants (that's us, the rate payer) who have no choice but to pay up.
The previous iteration of Council borrowed like no tomorrow and i recall our previous Mayor comforting ratepayers with the prospect of low interest rates to limit risk. Of course that was during the lowest interest rate in history and it was only ever going to go up.
We would be fools to sell Aurora to pay off our ill-considered debt. Council would be wise to spend on necessities and take a breather on the 'nice to have's' for 3-5 years whilst we get debt down.
The sale of ECNZ was promoted as an economically smart decision. It wasn't. Let's not do the same again to local ratepayers.
Supporting information
No associated documents with this submission.
Submitter
Submission id number: 1043212
Submitter name:
Philip Riley
Organisation