The answer is to privatise: as Liberty Scott summarises, "Transpower lacks capital - the government wont provide it - so the private sector should." Here's how:
As it happens, I agree with him. And as it happens, so too does Libertarianz leader Bernard Darnton -- who would have thought. "Sell Transpower to better secure Auckland's power," says Bernard, and based on the sorry record of state-ownership one can only agree with him.49% of Transpower should be privatised - sold to a single buyer or consortium. This would inject new capital into the company, see a revitalised board (with privately chosen businesspeople not politically chosen ones) and wipe some more public debt (reducing interest payments and giving more room for tax cuts).
The remaining 51% should be distributed as shares to all citizens equally . . .
LINKS: Power cuts - Liberty Scott
Sell Transpower to better secure Auckland's power - Bernard Darnton, Libertarianz
TAGS: Privatisation, Energy, Politics-NZ, Auckland