Electricity Sector "For every dollar spent on plant, property, and equipment, $2.41 has been spent paying shareholder dividends." From the Generating Scarcity report referred to by @kirstyjohnston.bsky.social union.org.nz/wp-content/u...
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Just to spell it out again. An excess dividend is when more $ is paid to investors (including the government) than is actually earned. Some - perhaps all of those excess dividends could have been invested in batterys or other renewables but instead we have a nation held to ransom. WTF.
aug 23, 2025, 8:21 pm • 6 1 • view
"In the decade to 2023, dividends have totaled almost $10.8 billion (including excess dividends of $4.2 billion), while investment on plant, property, and equipment over the decade came to only $4.5 billion."
aug 23, 2025, 8:21 pm • 7 0 • view
"A decade of data shows next to no growth in national generating capacity against $11 billion in dividends for shareholders, 142 percent of net profit after tax."..cont
aug 23, 2025, 8:24 pm • 4 3 • view
These costs slow the expansion of generating capacity and the decarbonisation of industrial and transport emissions, as well as impact the competitiveness of domestic manufacturing and job creation. This data shows that privatisation has failed to deliver for people and planet." page 5 of the report
aug 23, 2025, 8:24 pm • 5 1 • view
😡
aug 23, 2025, 9:16 pm • 0 0 • view
bsky.app/profile/isth...
aug 23, 2025, 10:56 pm • 0 0 • view
I'm more a Teddy Thompson fan. Appreciate the sentiment. "Is this what we really want" "Break down the stupid wall Stop doing what you're told And don't believe a thing you see Red Light, drop that ball Stop getting everything you want And get a PIECE of what you need" genius.com/Teddy-thomps...
aug 24, 2025, 12:35 am • 0 0 • view
Thanks Kent. I recall you posted some other data along the same lines from Newsroom? not so long ago.
aug 23, 2025, 8:45 pm • 0 0 • view
Probably this article from the very astute Ed Miller: newsroom.co.nz/2025/08/01/a...
aug 24, 2025, 12:37 am • 1 0 • view
So they are really generating dividends with electricity being a byproduct
aug 24, 2025, 12:47 am • 1 0 • view
Very much looks like that. Despite government owning 51% of Meridian, Genesis and Mercury they have been paying out excess dividends instead of re-investing in renewables. That would return real dividends in lower generation costs & localised distribution but surprise. We get shafted instead. :)
aug 24, 2025, 12:54 am • 0 0 • view
Interesting stuff. What country are we referring to here?
aug 24, 2025, 5:05 pm • 0 0 • view
New Zealand
aug 24, 2025, 7:30 pm • 0 0 • view