Genesis Energy Motion Passes

by Desk Editor on Tuesday, July 22, 2014 — 4:28 PM

MPs have passed a motion ensuring Genesis Energy is a public organisation for parliamentary purposes.

After Question Time, Finance Minister Bill English said the motion was part of the process relating to the partial sale of the energy state owned enterprises. The motion would mean the listed company would still be subject to select committee scrutiny under Standing Orders.

English said he was pleased with the sales process which had enabled the proceeds to be recycled into other assets including the rebuilding of Christchurch schools.

Labour’s David Shearer said the motion was wasting Parliament’s time because the Government had failed to include parliamentary scrutiny of the privatised energy SOEs in legislation.

The debate highlighted for the public that power bills continued to rise as winter got colder. The oversight of the sector seemed to believe what was good for companies was good for the public, but this was not the case Shearer said.

The motion was passed on a voice vote and MPs returned to the second reading of the Accounting Infrastructure Reform Bill.

It completed the stage on a voice vote and MPs began the committee stage debates of the Land Transport Amendment Bill and the Veterans’ Support Bill.

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