Who's to blame for high power prices? It's the usual suspects, of course.

"[I]it frustrates me that our politicians have become victims of short-termism and tribalism. ... But those with the biggest chequebook in town are still responsible for the decisions they make. And this includes 100% responsibility for our high power prices.

"Why are politicians to blame? Because they retain 51% public ownership - and 100% control - of our three biggest power companies - Mercury, Genesis and Meridian.

"And, since they were listed on the stock exchange, no subsequent Government, blue or red-led, has allowed the gentailers to raise the money required to meaningfully expand the supply of power. And this has meant higher power prices. It’s a simple supply and demand thing. ...

"[S]uccessive Crown Ministers have become addicted to the juicy gentailer dividends. Treasury estimates them to have been a combined $5.4 billion since listing. Quid quo pro. And successive Governments have (cunningly) left any political fallout from higher power prices to be their successors’ problem.

"There is a horrible irony in all this. Politicians, with 51% ownership and 100% control of the gentailers, get to blame their management and directors for our high power prices. But, as the majority owners of the gentailers, it’s actually their fault. It’s like your manager making a mistake, but publicly shaming you.

"And there is only one loser in all this: everyone who pays their power bill. ....

"[We have neither] 100% Government ownership of our power companies ... [nor] 100% private ownership. ... Instead, we have a horrible middle ground. 51% ownership by the Government -- with 100% control -- yet starving them of the capital to increase power supplies. Yet, if you were to believe the politicians, high power prices were the greedy gentailers’ fault. Rubbish. ...

"Make no mistake, high power prices are 100% the fault of our successive governments, blue and red. They’ve been starving our power companies of the food they require -- capital -- while also milking them for dividends. Ask any dairy farmer how that works out."

~ Sam Stubbs from his op-ed 'Who should we blame for high power prices?' [Emphasis mine]