Podcasts about tiwai point

Concerns bad investment choices in electricity generation will keep our supply unreliable. Tiwai Point aluminium smelter is ramping up production reversing previous restrictions, to ease winter supply concerns. Meridian Energy says the hydro storage is looking much healthier this winter. Major Electricity Users' Group Chair John Harbord told Mike Hosking restrictions will likely be back in force next winter, without investment in firmer electricity supply like geothermal and hydro plants. He says solar panels only generate electricity 25% of the time and wind turbines only create energy 40% of the time. LISTEN ABOVE See omnystudio.com/listener for privacy information.

Questions to Ministers SCOTT WILLIS to the Minister of Climate Change: What was the rationale behind the decision to give Tiwai Point aluminium smelter an extra $37 million per year subsidy of carbon credits? Dr VANESSA WEENINK to the Minister of Health: What recent reports has he seen on the Government's health targets? Hon CARMEL SEPULONI to the Prime Minister: Does he stand by all his Government's statements and actions? LAURA McCLURE to the Minister for Children: What action is the Government taking to ensure the safety and wellbeing of children is at the forefront of decision making for Oranga Tamariki? RICARDO MENÉNDEZ MARCH to the Minister of Health: Is the primary healthcare sector structured to serve the public good; if not, why not? CARL BATES to the Minister of Police: What recent reports has he seen on the public's perception of safety? Hon Dr AYESHA VERRALL to the Minister of Health: Are workforce shortages in regional hospitals limiting access to health services; if so, when will normal services be restored? JENNY MARCROFT to the Minister for Resources: What reports has he received on the resources sector? Hon GINNY ANDERSEN to the Associate Minister of Police: Does she stand by the Minister of Police's statement on the coalition commitment to deliver 500 front-line police by 27 November 2025, "It's aspirational"; if not, why not? MARIAMENO KAPA-KINGI to the Minister for Children: Does she think provisions in the Oranga Tamariki (Responding to Serious Youth Offending) Amendment Bill allowing the use of physical force against children in State care breach the UN Convention on the Rights of the Child to be protected from all forms of physical violence? SHANAN HALBERT to the Minister for Universities: Does he expect increases in tertiary sector enrolment levels, given the unemployment rate is 5.1 percent? PAULO GARCIA to the Minister for Building and Construction: What is the Government doing to support tradies?

The Mayor of the Ruapehu District wants the Government to step in to save two businesses facing closure.  Hundreds of jobs are on the line - with the Kariori pulpmill and Tangiwai sawmill both under pressure, as energy costs have gone up significantly in recent years.  A meeting on the fate of hundreds of workers is expected tomorrow.  Ruapehu District Mayor Weston Kirton told Ryan Bridge this is not a new issue - as Tiwai Point was bailed out.  He says the Government can cap electricity prices to allow the mills to get over the line  until the issue evens out.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

The confirmation Tiwai Point is going to reduce its electricity usage next month isn't proving to be great news for everyone.   The aluminium smelter's usage agreements means Meridian Energy can request it scale back production to meet electricity demands.   But Energy Resources Aotearoa Chief Executive John Carnegie told Ryan Bridge production shouldn't have to be reduced, and it's a sign the gas market needs to be revitalised.  He says the country isn't in great shape, adding with declining gas reserves comes the threat of black outs.  LISTEN ABOVE See omnystudio.com/listener for privacy information.

A 20-year deal with Southland's Tiwai Aluminium Smelter could be good news for everyday New Zealanders. The agreement signed by Meridian, Mercury, Contact Energy and New Zealand Aluminium Smelters will guarantee supply until 2044. Milford Asset Management's Jeremy Hutton says this is positive news for the electricity sector.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

A 20-year deal with Southland's Tiwai Aluminium Smelter could be good news for everyday New Zealanders. The agreement signed by Meridian, Mercury, Contact Energy and New Zealand Aluminium Smelters will guarantee supply until 2044. Milford Asset Management's Jeremy Hutton says this is positive news for the electricity sector.  LISTEN ABOVESee omnystudio.com/listener for privacy information.

We got a rare bit of good economic news today hearing that Tiwai Point Aluminium Smelter is committed to staying here for at least another 20 years.   Normally, I don't have a lot for time for Tiwai. And that's largely because of how the owners have behaved in the past: threatening to leave, going cap in hand to the government, getting saved, then a few years later threatening to leave again... getting some assistance, then a few years later threatening to leave again.   So, I'm always tempted to be hard on them. But this time... I'm actually relieved that those three electricity companies - Meridian, Contact and Mercury - have come to the party to keep Tiwai point going. Simply because we can't afford to lose such a big manufacturer.  It's not a particularly sexy subject, so it doesn't get talked about nearly enough.   But we have lost a lot of manufacturers out this country... to the point that we should actually be quite worried about it. Marsden Point has been closed.  There have been threats that Glenbrook Steel Mill might close (if it can't get itself together). A 30-year-old Gisborne Wood Mill closed just before Christmas, a 40-year-old Kawerau Paper Mill closed too. James Hardie shut its NZ manufacturing. Fonterra closed a couple of Waikato plants last month.  Manufacturing has been contracting since March last year. Back in 1992 the goods producing part of our economy was 35%.  Now it's down to 20% - that's money lost.   Now, I don't know what kind of sweet deal those electricity companies offered Tiwai to make them sign on for twenty years, because that's a big commitment. And I don't know how much of Tiwai committing for that long is because the parent company Rio Tinto is trying very hard to rescue its corporate reputation by not being bullies and bad guys anymore.   But whatever the case is... It almost doesn't matter. I'm just pleased we've got them sticking around.   LISTEN ABOVE.     See omnystudio.com/listener for privacy information.

Local businesses are thrilled a 20-year deal's been struck with the Tiwai Point Aluminum Smelter.  The deal was signed with three energy companies - guaranteeing supply to New Zealand Aluminum Smelters until 2044.   It brings certainty to hundreds of plant workers, and thousands in related jobs.  Southland Business Chamber CEO Sharee Carey told Heather du Plessis-Allan “When you've got both sides coming to the party for a good deal - you get that commitment to the region, which is fantastic for us.”  LISTEN ABOVE.     See omnystudio.com/listener for privacy information.

Ah, another cold snap, another example of our power industry being unable to cope. I hope you all had cold showers and turned off the heated towel rails and ate cold gruel this morning to do your bit to reduce power consumption. The reason for the latest orange alert is that there has been a surge in demand and the wind turbines haven't been turning - yada, yada, yada. Different excuses same result. It gets cold, and our electricity suppliers can't cope. David Seymour says it's Third World stuff —it is— and Simeon Brown says it's all the fault of the last lot.  To be fair, according to the experts, there's been a lack of investment in new renewable generation during most of the past 10 years. Although generators will be quick to point out the renewables they're in the process of developing, and New Zealand's electricity supply is set for a welcome boost in the second half of winter with Meridian's newest wind farm on track for early completion. When completed, Harapaki will be the country's second largest wind farm, offering enough electricity to power most of Hawke's Bay.   So one of the reasons for the shortage in power this morning, one of the reasons given was that the wind hadn't been turning the turbine. So if the wind doesn't turn them, you need a backup, you need a plan B.  Gentailers were also reluctant to invest too much into new energy sources as they waited to hear the fate of the Tiwai Point aluminium smelter. Had it closed, it would have released 572 megawatts of excess generating capacity on to the market. The electricity market model provides strong disincentives against power companies bringing on extra capacity until they are sure it will be fully absorbed.  The International Energy Authority noted arguments that the kind of market model New Zealand has adopted could result in underinvestment in new generation as far back as in 2001. And you can see that if your primary motivation is to make money, you're not going to dump the market full of the product that you're trying to sell, you're going to hold of.  Okay they're building a new hydro lake. Oh, no they're not. Tiwai Point might close and we might get more electricity into the market. No it isn't. So then they try and play catchup with major electricity users.  Major Electricity Users Group chairman John Harbord warned in April that generators were incentivised to keep the market on the “precipice of shortage”.  And that is precisely where we are this morning. Ladies and gentlemen, where we are on the precipice of shortage yet again, while successive governments argue who did least, and as power companies claim to be doing their bit to invest and build in alternative energy sources. We shiver in our kitchens, while the Teslas languish in the garage, having cold gruel and dripping on untoasted bread to do our bit.    Just as we did last winter and the winter before that and will no doubt continue to do so until our grandchildren have grandchildren. See omnystudio.com/listener for privacy information.

Air New Zealand has had massive bailouts by taxpayers. Thousands of kiwi businesses were supported through Covid. The Tiwai Point aluminium smelter in Bluff has had cheap electricity for years.  And of course the tobacco industry is now getting revived by this government. So why does this government seem so reluctant to step in when it comes to Newshub?See omnystudio.com/listener for privacy information.

Why you'll be paying more for power  We find out in our conversation with gentailer Contact Energy off the back of its improved $153m net profit for six months to December 31.    CEO Mike Fuge explains why consumer power prices are set to rise above inflation. Ouch!  You'll also hear Mike's view on the future of gas and why it's necessary but tricky. Why the aluminum smelter Tiwai Point must remain open. Why there's more to batteries. And why solar is niche in NZ.   For more or to watch on youtube—check out http://linktr.ee/sharedlunch Brought to you by Sharesies, with BusinessDesk. Appearance on Shared Lunch is not an endorsement by Sharesies of the views of the presenters, guests, or the entities they represent. Their views are their own. Shared Lunch is not financial advice. We recommend talking to a licensed financial adviser. You should review relevant product disclosure documents before deciding to invest. Investing involves risk. You might lose the money you start with. Content is current at the time.See omnystudio.com/listener for privacy information.

Contact Energy has reported an increase in net profit and says it expects to finalise a more generous electricity deal with Tiwai Point aluminium smelter. It's recorded a net profit of $153 million for the six months to December. CEO Mike Fuge says he's optimistic about a better long-term agreement with Rio Tinto. "We've been really clear, there are three things- and like any negotiation, it's a two-way street." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Contact Energy has reported an increase in net profit and says it expects to finalise a more generous electricity deal with Tiwai Point aluminium smelter. It's recorded a net profit of $153 million for the six months to December. CEO Mike Fuge says he's optimistic about a better long-term agreement with Rio Tinto. "We've been really clear, there are three things- and like any negotiation, it's a two-way street." LISTEN ABOVESee omnystudio.com/listener for privacy information.

Forget about it. That's pretty much the message the Government is getting today from the owner of the Marsden Point oil refinery. That's the Marsden Point oil refinery that doesn't do any refining these days because, as you'll remember, it was shut down in April last year by its private owner which, back then, was known as Refining NZ. These days it's known as Channel Infrastructure. 240 jobs went in the process and, ever since, the closure has been blamed for all sorts of things from high fuel prices to cruddy roads. That's because, when it was operating, Marsden Point produced about 70 percent of the bitumen used in New Zealand for roads. Now we have to import 100 percent of the bitumen we need. And we seem to think that the stuff from overseas is second-rate, which is why Marsden Point always comes up when we're talking about potholes. And, of course, we now also import all our refined fuel. Because we don't have a functioning refinery here. So, prior to the election, NZ First picked up on all this talk about Marsden Point and, as part of its deal with National, the coalition government is going to investigate re-opening it. Which I predict will mean a truckload of time and taxpayer money going into something that will go nowhere. It will come to nothing. That's because the people who know a thing-or-two about running Marsden Point are saying today that it would cost billions to get it up and running again because there is nothing there that can just be plugged-in and cranked up again. “There is no part of the former refinery that can be restarted.” That's a direct quote from the person speaking on behalf of the owner. They're saying they haven't done costings but expect it would be billions and it would take a number of years. So, as far as I'm concerned, that horse has bolted and we need to forget about having an oil refinery here. Perhaps if there's one thing the former government can be criticised for when it comes to Marsden Point, is whether or not it did enough to keep it going. We all know how the Tiwai Point aluminium smelter is pretty much only operating because the owners get big power discounts. So maybe that's somewhere where Labour did drop the ball, and perhaps it could have done more to keep Marsden Point operating. Because the reason why it was closed in the first place is that the fuel companies - which were shareholders in the refinery - thought it would be more cost-effective for them to import pre-refined petrol and diesel, instead of doing it here. So maybe the former government could have done something to make it more attractive to keep it going. In fact, former energy minister Megan Woods did float the idea of saving the refinery by underwriting its operations for up to 10 years, but her Cabinet colleagues weren't up for it. So that didn't happen. The refinery is now closed. And I just think we have to get over it and I think the Government needs to drop this idea of looking into re-opening it. Because, if the people who know a thing-or-two about running a refinery think it's a stupid idea, then who am I going to listen to? The people who know what they're on about? Or a politician who has heard a bit of noise and reckons there might be some political mileage in it? I'll go with the refinery experts any day, thanks. And I think the government should do the same.See omnystudio.com/listener for privacy information.

Contact Energy says it is important to keep the Tiwai Point aluminium smelter open beyond 2024, when its energy supply agreement is set to expire.  Anan Zaki has the business news.

Contact Energy says it is important to keep the Tiwai Point aluminium smelter open beyond 2024, when its energy supply agreement is set to expire.  Anan Zaki has the business news.

Southland has unveiled a bright vision for its future regardless of whether Tiwai Point aluminium smelter closes or not. Beyond 2025 is the long term plan for tackling the region's challenges and opportunities. It was presented at a packed event at Te Rau-O-Te-Huia in the heart of Waihopai last night. Our reporter Tess Brunton was there.

The Government is looking into how it can transition towards a low emissions economy and move away from fossil fuels. Energy Link was commissioned by the Parliamentary Commissioner for the Environment to model the system-wide effects of four potential electricity pathways in New Zealand. Parts of the model look into storing hydroelectricity generated by Lake Onslow and closing the Tiwai Point aluminium smelter. The Parliamentary Commission for the Environment's chief economist, Geoff Simmons, spoke to Corin Dann.

Calls have come for support in Southland as the future of the Tiwai smelter remains unknown amid large profits. The smelter faces closure next year if its parent company, Rio Tinto, isn't able to strike a deal with power companies. Southland Chamber of Commerce President Neil McAra told Mike Hosking the region and the smelter need each other. Rio Tinto reported an underlying profit from the smelter of $122 million for the year to the end of December. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Uncertainty over the future of the Tiwai Point Aluminium Smelter has helped shape Southland's new renewable energy strategy which is out for consultation Owner Rio Tinto threatened to close the smelter over high electricity costs, but made a deal with power companies in 2021 to keep it operational for another four years. Green hydrogen from new wind farms, biomass and hydro are also up for consultation. Southland Regional Development Agency strategic projects general manager Stephen Canny spoke to Corin Dann.  

According to Contact Energy, it is looking as if Rio Tinto are ready to make a deal with Tiwai Point. Rio Tinto had previously said the Tiwai Point aluminium smelter's energy costs made it too expensive to run. Contact Energy CEO Mike Fuge joined Mike Hosking to discuss what may have changed. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Uncertainty about the future of the Tiwai Point aluminium smelter looks likely to be resolved, with the owner ready to make a deal on its long-term contract. The smelter, near Bluff, is scheduled to close at the end of next year, after a review by the mining giant owner, Rio Tinto, decided its energy costs made it too expensive to run. Contact Energy CEO Mike Fuge told Mike Hosking discussions have been edging towards getting the owner to commit to staying for at least a decade. He says the goal is for discussions not to continue coming back to the same point. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Another drought could be on the cards for Southland this summer as the big dry starts to bite, with soil moisture well below normal and rainfall scarce…  Tiwai Point near Bluff has only recorded 1mm this year; that's the driest start to a year recorded since records began in 1975… And parts of Invercargill had only recorded 12mm this month, which was the driest start to the year since 1998…  Sheep and beef farmer and our great mate Ben Dooley joins us now.See omnystudio.com/listener for privacy information.

The author of a new report on widespread pollution around the aluminium smelter at Tiwai Point in Southland says he found key contaminants left out of an earlier study done by the smelter company. Simon Hunt's report was commissioned by the Southland Regional Council. Mr Hunt said waste had just been dumped on the soil at Tiwai Point. New Zealand Aluminim Smelters said waste was better managed now. Environment Southland chief executive Wilma Falconer spoke to Susie Ferguson.

Contamination of the environment at Tiwai Point is significant, and ongoing. This is according to an Environment Southland report, who now want to find out what damage this is actually doing. The Chief Executive of Environment Southland, Wilma Falconer, is here with us now. LISTEN ABOVE  See omnystudio.com/listener for privacy information.

The Electricity Authority says it's made urgent changes today, to make sure consumers aren't disadvantaged by big deals. The amendment to the Electricity Industry Participation Code means that deals for more than 150 megawatts, can only go ahead if they meet specific criteria. It impacts powercos' ability to strike a deal with Tiwai Point aluminium smelter, as it works on plans to stay operating beyond 2024. LISTEN ABOVESee omnystudio.com/listener for privacy information.

The company that runs the Tiwai Point aluminium smelter has announced it will begin talks with power companies that would see it stay open beyond 2024. Southland Chamber of Commerce president Neil McAra says it's an encouraging development but it's important the region's economy doesn't rely too heavily on the 50-year-old smelter near Bluff. McAra spoke to Susie Ferguson.

Frances Cook (Investments Editor at BusinessDesk) sits down with Mike Roan the CFO of Meridian Energy to chat about electricity regulation, the future of the Tiwai Point contract, hydrogen and what it all means for investors.. Brought to you by Sharesies, with BusinessDesk. Register for upcoming episodes and submit your questions over on Crowdcast. If there are any companies, fund managers, or other special guests you'd like to see on Shared Lunch, flick us an email at sharedlunch@sharesies.co.nz to let us know. Subscribe to the Lunch Money email newsletter for bite-sized market updates twice a week. Appearance on Shared Lunch is not an endorsement by Sharesies of the views of the presenters, guests, or the entities they represent. Their views are their own. Shared Lunch is not financial advice. We recommend talking to a licensed financial adviser. You should review relevant product disclosure documents before deciding to invest. Investing involves risk. You might lose the money you start with. Content is current at the time. Shared Lunch is for a New Zealand audience.

Southland is grappling with an extreme dry spell that's prompted water restrictions across the region. NIWA figures show Invercargill, Tiwai Point and Stewart Island had their driest summers on record. Tess Brunton has more.

Frances Cook (Investments Editor at BusinessDesk) sits down with Contact Energy CEO Mike Fuge to chat about Contact's long-term strategy and the future of sustainable energy options. Brought to you by Sharesies, with BusinessDesk. Register for upcoming episodes and submit your questions over on Crowdcast. If there are any companies, fund managers, or other special guests you'd like to see on Shared Lunch, flick us an email at sharedlunch@sharesies.co.nz to let us know. Subscribe to the Lunch Money email newsletter for bite-sized market updates three times a week. Or, if you're looking for a daily recap of the events shaping the NZ, US, and Australian share markets, tune in to our Recap podcast. Appearance on Shared Lunch is not an endorsement by Sharesies of the views of the presenters, guests, or the entities they represent. Their views are their own. Shared Lunch is not financial advice. We recommend talking to a licensed financial adviser. You should review relevant product disclosure documents before deciding to invest. Investing involves risk. You might lose the money you start with. Content is current at the time. Shared Lunch is for a New Zealand audience.

The price of aluminium has exploded in the last six months – so much so that Rio Tinto now wants to delay the closure of the aluminium smelter it owns at Tiwai Point beyond the planned end date of 2024. But this decision has thrown a big spanner into the works of climate change planners, investors and politicians, who had been working under the assumption that, come 2024, the 13% of the nation's power supply that Tiwai Point uses would become available to help cities decarbonise their transport fleets. To find out more about what Tiwai Point staying would do for our climate plans, Bernard talks to climate change minister James Shaw and renewable energy expert Rebecca Peer.When the Facts Change is brought to you by The Spinoff Podcast Network together with Kiwibank. See acast.com/privacy for privacy and opt-out information.

Today on Newstalk ZB Canterbury Mornings, John MacDonald was joined for his weekly interview with National Party leader, Christopher Luxon. Luxon was questioned about his debate in the house yesterday, and comments he made about New Zealand's housing situation. He also spoke about his views on Tiwai Point smelter, ECan and Ngāi Tahu representation and the current protest happening outside of Parliament in Wellington. LISTEN ABOVE 

Staying in the regions the murky future of the Tiwai Point aluminium smelter just got murkier. Amid historically high aluminium prices, the smelter's majority owner, Rio Tinto, has issued a statement saying it believes there's a long-term future for the operation. In 2020 the mining giant threatened to close Tiwai Point over electricity costs. After securing a cut-price power deal it agreed to keep it open until 2024. Minister of Energy and Resources, Megan Woods, told RNZ yesterday the ongoing will-they-won't-they uncertainty is creating frustration for Southlanders, but whatever Rio Tinto decides the government will not be offering taxpayer-funded subsidies. Last week the government announced a Just Transition work plan for the region. Southland Chamber of Commerce president Neil McAra told our reporter Timothy Brown that yesterday's statement from Rio Tinto is good news for the workers at the smelter and the region.

The UN Climate Change Conference in Glasgow earlier this year removed all doubt about how fast we need to cut climate emissions. If we're to keep warming below 1.5 degrees, we need to make big changes by 2030 – two or three decades to build rail lines and wait for Tiwai Point to close won't cut it any more. So what needs to be done to rapidly engineer a just transition to zero carbon in less than a decade? Bernard Hickey talks to Our Energy CEO John Campbell about how virtual energy trading of distributed solar energy generation could help, and climate activist Paul Winton explains why we have to reconfigure our existing roads for cycling, walking and buses ASAP.When the Facts Change is brought to you by The Spinoff Podcast Network together with Kiwibank. See acast.com/privacy for privacy and opt-out information.

A close observer of the electricity sector says the Government must intervene to force big firms to give up assets and make way for a state-owned generator. An Electricity Authority report out on Wednesday says Meridian and Contact Energy's cut-rate deal with Rio Tinto, owner of the Tiwai Point aluminium smelter, has led to higher wholesale prices. Independent electricity retailer Electric Kiwi chief executive Luke Blincoe says this would be the fastest way of putting money back into consumers' pockets. He spoke to Corin Dann.

About $200 a year - that's what it's costing NZ households in order for the Tiwai Pt aluminium smelter to stay open, the Electricity Authority says. It says New Zealanders are subsidising the multinational by about $500 million a year. Our reporter Ruth Hill hit the streets of Wellington to gauge reaction.

A close observer of the electricity sector says the Government must intervene to force big firms to give up assets and make way for a state-owned generator. An Electricity Authority report out on Wednesday says Meridian and Contact Energy's cut-rate deal with Rio Tinto, owner of the Tiwai Point aluminium smelter, has led to higher wholesale prices. Independent electricity retailer Electric Kiwi chief executive Luke Blincoe says this would be the fastest way of putting money back into consumers' pockets. He spoke to Corin Dann.

New Zealand is on a cusp of a major energy transition - but it's not been all smooth sailing. Jarden says it's possible for New Zealand to reach its 100 per cent renewable energy by 2030. The investment and advisory group covers New Zealand's electricity, oil, and building sectors for clients. It says the next 10 years are likely to be the most transformative seen in decades for the energy sector. However hurdles remain with the country importing more coal this year than it has in a decade, questions over the closure date for the Tiwai Point aluminium smelter, and investment in green hydrogen production still in its infancy. Kathryn speaks with Jarden equity research directors Grant Swanepoel and Nevill Gluyas about what the next year - and next decade - might look like.

New Zealand is on a cusp of a major energy transition - but it's not been all smooth sailing. Jarden says it's possible for New Zealand to reach its 100 per cent renewable energy by 2030. The investment and advisory group covers New Zealand's electricity, oil, and building sectors for clients. It says the next 10 years are likely to be the most transformative seen in decades for the energy sector. However hurdles remain with the country importing more coal this year than it has in a decade, questions over the closure date for the Tiwai Point aluminium smelter, and investment in green hydrogen production still in its infancy. Kathryn speaks with Jarden equity research directors Grant Swanepoel and Nevill Gluyas about what the next year - and next decade - might look like.

Kia ora, Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect New Zealand.I'm David Chaston and this is the International edition from Interest.co.nz.Today we lead with news investors are stepping back in the wake of the Afghanistan turmoil and a noticeable slowdown in China.But in New York, the latest factory survey shows business activity continued to expand, though growth was markedly slower than last month's record-setting pace. New order levels dipped but unfilled order levels rose as supply constraints don't show any easing. Prices paid and prices received both are expanding at record rates.And better than expected private consumption along with better than expected capital expenditure both powered the Japanese economy to a better than expected expansion in the June quarter. This growth comes after a weak Q1 when it contracted -3.7%, and dismissed the possibility Japan had slipped back into recession.It's not all good however. Many analysts expect growth to remain modest in Q3, if at all, as state of emergency curbs re-imposed to combat a spike in pandemic infections weigh on household spending again.There was more data released overnight confirming the slowdown in the Chinese economy. Tighter credit conditions are biting along with pandemic lockdowns in parts of their economy too. The recent flooding isn't helping either.Chinese retail sales in July significantly missed expectations, rising +8.5% from a pandemic affected July 2020 and only +7.2% above July 2019 which for them is quite the come-down. Industrial production turned in a similar big miss.Electricity production was up +12% from July 2019 primarily from thermal power, nuclear power, and wind power which all grew rapidly in July, while hydropower's decline narrowed, and solar power also declined. The rising demand and rising supply pressure on electricity is putting a serious dent in China's production of aluminium. Aluminium prices are surging. Tiwai Point's deal looks like the bargain of the century now.Chinese house price growth stalled in July, which will make their policymakers happy because they have been actively seeking to quell this housing speculation.China needs to get this slowdown sorted because it is facing significant labour market pressure - and that is according to views at the top of the Beijing government. It now says it will prioritise employment with its fiscal and monetary policies while their labour market remains under pressure.In an urgent law change late yesterday, NSW commercial landlords are now required to provide rental relief to tenants with annual turnover of up to AU$50 mln. Landlords there are not happy.The UST 10yr yield starts today at 1.26% and down -2 bps. The price of gold has risen +US$7 from this time yesterday to US$1787/oz.Oil prices are -US$1 softer from this time yesterday, so in the US they are just over US$67/bbl, while the international Brent price is just over US$69/bbl.The Kiwi dollar opens today at just under 70.2 USc and marginally lower. Against the Australian dollar we are at 95.6 AUc. Against the euro we are at 59.6 euro cents, both little-changed. That means our TWI-5 starts today at 73.2 and still in the narrow range of between 72 and 74 we have been in for ten months now.The bitcoin price has weakened slightly today and is now at US$46,501 and is down -0.1% from this time yesterday. Volatility in the past 24 hours has been moderate at just under +/- 2.4%.You can find links to the articles mentioned today in our show notes.And get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston and we'll do this again tomorrow.

Contact Energy and Meridian Energy are looking to build the world's first large-scale green hydrogen plant in Southland. A report for the two companies says a plant is feasible once electricity currently used by Tiwai Point aluminium smelter comes free. The smelter has a supply agreement with Meridian through to late 2024. One sceptic is University of Canterbury professor in mechanical engineering, Susan Krumdieck. She says producing green hydrogen is a waste of time and money. Krumdieck also says a better use of surplus electricity would be to electrify rail and road transport. Contact's chief executive Mike Fuge spoke to Corin Dann.

Contact Energy and Meridian Energy are looking to build the world's first large-scale green hydrogen plant in Southland. A report for the two companies says a plant is feasible once electricity currently used by Tiwai Point aluminium smelter comes free. The smelter has a supply agreement with Meridian through to late 2024. One sceptic is University of Canterbury professor in mechanical engineering, Susan Krumdieck. She says producing green hydrogen is a waste of time and money. Krumdieck also says a better use of surplus electricity would be to electrify rail and road transport. Contact's chief executive Mike Fuge spoke to Corin Dann.

Relief for residents in a Southland town, after confirmation that all 10,000 tonnes of toxic aluminium waste has been removed from its old paper mill. The dross is an aluminium by-product from the Tiwai Point smelter, and had been stored in Mataura's disused paper mill for seven years. Anei te kai ripoata a Anan Zaki.

Ten thousand tonnes of aluminium dross stored in the old paper mill at Mataura in Southland is being removed. The waste is a by-product of aluminium production at the Tiwai Point smelter and releases deadly ammonia gas if it gets wet. Mining company Rio Tinto has agreed to pay the $6 million clean up bill. Mataura Dross Action Group spokesperson Laurel Turnbull spoke to Susie Ferguson.

Ten thousand tonnes of aluminium dross stored in the old paper mill at Mataura in Southland is being removed. The waste is a by-product of aluminium production at the Tiwai Point smelter and releases deadly ammonia gas if it gets wet. Mining company Rio Tinto has agreed to pay the $6 million clean up bill. Mataura Dross Action Group spokesperson Laurel Turnbull spoke to Susie Ferguson.

Documents reveal the Government offered to pay millions of dollars to Rio Tinto, despite promising no direct subsidies would be paid to the owner of Tiwai Point aluminum smelter, we hear from a woman who says she's worried a young relative was abused at a Oranga Tamariki unit in Christchurch, as China marks 100 years of the communist party, Sir John Key reveals President Xi Jinping is a personal friend, and the dates for the next 30 years of Matariki public holidays are revealed.

Documents reveal the Government offered to pay millions of dollars to Rio Tinto, despite promising no direct subsidies would be paid to the owner of Tiwai Point aluminum smelter, we hear from a woman who says she's worried a young relative was abused at a Oranga Tamariki unit in Christchurch, as China marks 100 years of the communist party, Sir John Key reveals President Xi Jinping is a personal friend, and the dates for the next 30 years of Matariki public holidays are revealed.

The Government offered to pay millions of dollars to Rio Tinto, just months after it promised no direct subsidies would be paid to the owner of the Tiwai Point aluminum smelter. The deal, which was never taken up, is revealed for the first time in letters released under the OIA. Finance Minister Grant Robertson is not calling it a subsidy, saying in return for the money the multinational was expected to retain jobs, clean up the site and help the Southland economy transition to other industries. Phil Pennington spoke to Susie Ferguson.

The Government offered to pay millions of dollars to Rio Tinto, just months after it promised no direct subsidies would be paid to the owner of the Tiwai Point aluminum smelter. The deal, which was never taken up, is revealed for the first time in letters released under the OIA. Finance Minister Grant Robertson is not calling it a subsidy, saying in return for the money the multinational was expected to retain jobs, clean up the site and help the Southland economy transition to other industries. Phil Pennington spoke to Susie Ferguson.

Sonya and Shannon are joined by Mike Fuge, CEO of energy generator and digital retailer Contact Energy, to talk about sustainability, Tiwai Point, Contact Energy's plans for the future, and more.