在2026年新西兰大选的政策辩论中，绿党和新西兰第一党提出将大型电力公司拆分为独立的发电和零售部门1。两党主张这一举措将通过增加竞争来降低家庭电费1。电力管理局的数据显示，家庭和小企业在2026年上半年平均多支付了6.8%的电费1，其中超过一半的涨幅源于网络收费，发电成本和零售利润占据其余大部分1。
然而，经济学者理查德·米德对强制拆分的后果提出了严厉警告1。他指出，这种做法可能导致风险管理困难、投资不足和批发电价上升等一系列负面结果，最终可能伤害而非帮助消费者1。财政部长尼古拉·威利斯表示，拆分公司会造成"巨大不稳定"1。历史案例提供了警示：2021-22年英国能源危机期间有29家供应商倒闭1，新西兰在2001年也经历过类似情况，当时天然气公司将电力客户出售给发电机构1。研究表明，企业整合反而可以鼓励投资，因为更高效的发电可以加强公司在零售市场的竞争力1。
Ahead of New Zealand's 2026 election, the Green Party and New Zealand First have proposed breaking up large power companies into separate generation and retail divisions, arguing that increased competition would lower household electricity bills.1 However, the proposal carries significant risks that could ultimately harm consumers, according to economic analysis.
Households and small businesses are facing steep electricity cost increases, with bills rising an average of 6.8% in the first half of 2026.1 While network charges account for more than half of this increase, generation costs and retail margins make up the remainder.1 Despite the appeal of breaking up gentailers to boost competition, economist Richard Mead cautions that forced separation could create serious complications, including difficulties managing risk, insufficient investment incentives, and rising wholesale electricity prices.1 Finance Minister Nicola Willis has similarly warned that splitting these companies would create "huge instability."1
Historical evidence underscores these concerns. During the 2021-22 energy crisis in the United Kingdom, 29 energy suppliers collapsed following market liberalization.1 New Zealand itself experienced comparable disruption in 2001, when a gas company sold its electricity customers to a generation company.1 Research indicates that integrated operations actually encourage investment, as companies can leverage more efficient generation to strengthen their retail market positions.1
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