NZ First — "Power to the People" energy policy platform
Issued by Rt Hon Winston Peters
What happened
Winston Peters's 23 March 2026 State of the Nation pledged to break the four big power companies into separate generators and retailers, kill the marginal-cost pricing system that lets the most expensive generator set the price, guarantee fixed-price contracts for new generation, let home-solar producers sell back at the price they pay, and restrict the India FTA's migration provisions.
What's at stake
- Who feels it
- All residential and commercial electricity consumers; the four major generator-retailers (Genesis, Mercury, Meridian, Contact)
- How it works
- Would require new legislation amending the Electricity Industry Act 2010 and engaging Commerce Act 1986 competition framework. Currently a party promise — not a bill, not in force.
- Key context
- This is a party policy promise, not law and not yet a bill. Implementation depends on NZ First being in government after the 2026 election and passing enabling legislation.
- Wider effects
- Would restructure NZ's largest generator-retailers; shift incentives for distributed/solar generation; reshape wholesale-electricity-market design.
Who feels it
smecorporateslawyerspublic
Source on record
https://www.nzfirst.nz/power_to_the_people_sotn_2026Tracked neutrally by LexNZ. Status reflects the primary source as of 21 May 2026. Not legal advice.
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