Submission
Which option do you prefer?
Option One – Council's preferred option – Sale of Aurora Energy
Further comment
Aurora Energy Limited should have been sold a long time ago. A company run by a local authority cannot be profitable. It is understandable for local authorities to invest in commercial properties, but local authorities are not capable of running a company. If the company was privately-owned, it would have been profitable. I'm very supportive of the sale of Aurora Energy Limited. However, the Dunedin City Council needs to put a condition in the contract for the sale of Aurora Energy Limited which states that Aurora Energy Limited can only increase the price of electricity by a certain percentage each year. Although there could be certin legal mechanisms already to limit price increases, the Dunedin City Council should not rely on those mechanisms alone to keep the price down. The purchaser of Aurora Energy Limited will do everything they can to increase the price of electricity and they will find a way to achieve this. For the residents of Dunedin, especially people who are struggling financial hardship, the Dunedin City Council needs to ensure that the purchaser only increases the price of electricity by a certain percentage each year. A sale of Aurora Energy Limited without these additional safeguards would be very irresponsible. Entities that purchase companies like Aurora Energy Limited are well capable of finding a way to increase the price of electricity.
Supporting information
No associated documents with this submission.
Submitter
Submission id number: 1045622
Submitter name:
Kisan Yoo
Organisation