Cost of dairy products closing in on non-dairy alternatives
To embed this content on your own webpage, cut and paste the following:
See terms of use.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Otago Daily Times
26 minutes ago
- Otago Daily Times
Residents given more time to have say on solar farm plan
Canterbury residents have been given more time to have their say on a proposed solar farm near their village. The Hurunui District Council has extended the deadline for submissions on a proposed solar farm near Waipara, after acknowledging it had not included all the documents relevant to the application on its website. The deadline is now 5pm on Thursday, August 14. Auckland-based Far North Solar Farm Ltd plans to build a 180ha solar farm near Waipara, north of Amberley. At its peak, the farm's 250,000 panels would generate up to 144 megawatts, enough to power an estimated 30,000 homes. Council staff said the extension is ''to ensure submitters are able to have a full understanding of the application when preparing and making their submission''. A report prepared by council staff found the adverse effects of the application were more than minor with regard to landscape and visual effects. A group of concerned residents formed Save Waipara Valley last year and set up a website, Save Waipara Valley founder Lizzy Kelsey urged concerned residents to make a submission. ''Such a large-scale industrial development has no place so close to homes, or in our flourishing tourism district,'' she said. Among the group's concerns are the potential impacts on the environment, how the solar panels would stand up to ''North Canterbury's notoriously strong winds'', risks to passing motorists from glare from the panels and the impact on property values. A Far North Solar Farm spokesperson said the company sought independent advice to assess the environmental impacts and consulted with neighbours prior to making the submission. ''We are aware that there are still some incorrect assumptions about the project in online materials created by a small minority group of people opposing the project. ''Our experts have concluded that glint and glare will not be an issue. The solar farm will be engineered to the local wind and other weather conditions.'' The spokesperson encouraged anyone with questions to refer to the independent reports attached to the submission. ''Compared to many other land uses, solar is clean, quiet and ecologically sound. There will be less spraying, cropping, stock pugging and other issues. ''There will not be regular spraying, use of frost fans, burning of frost pots or water spraying to prevent frosts.'' Speaking to Local Democracy Reporting earlier this month, Waipara Residents' Association chairperson Steven Ellis encouraged residents to have their say. ''Everyone has their own views one way or the other for different reasons. ''Some can't see a problem and there's others who think it is not a good situation to have a solar farm this close to a village.'' By David Hill, Local Democracy Reporter ■ LDR is local body journalism co-funded by RNZ and NZ On Air.
RNZ News
26 minutes ago
- RNZ News
Get ready for more bad news from Tesla
By Chris Isidore , CNN Auto revenue fell 16 percent, while overall revenue fell 12 percent, a bigger drop than forecast by Wall Street. Photo: AFP / JULIEN DE ROSA Tesla's troubles continued Wednesday (US time) as the company reported a 23 percent drop in adjusted earnings for the second quarter, a fall that followed a record drop in sales in the same period. The company's adjusted net income, the measure most closely followed on Wall Street, fell $419 million (NZ$695.54m) from one year ago to $1.4 billion (NZ$2.32b). That 23 percent drop is a bigger percentage decline than the 13.5 percent fall in vehicle sales during the quarter, which was the largest in the company's history. The stricter reading for net income fell 16 percent to $1.2b (NZ$1.99b). Auto revenue fell 16 percent, while overall revenue fell 12 percent, a bigger drop than forecast by Wall Street, suggesting there was weakness in auto prices it could charge since revenue was off more than the number of vehicles sold. Tesla's sales plunge over the last 18 months has been a stunning turn for a company that recorded only one quarterly year-over-year sales drop before 2024. And the company faces significant trouble ahead. Investors already know that second-quarter sales fell a record 13.5 percent compared to a year earlier, the second straight quarter in which its sales were off at least 13 percent. But a second-quarter earnings report, due after the market closes at 4pm (ET), could shed light on other, potentially bigger problems as well, as the company faces losing its title as the world's biggest EV maker to China's BYD. The first-quarter sales drop sparked an even larger 71 percent drop in net income in that period. Tesla is expected to post another decline in the second quarter, albeit not as large. Analysts estimate net income dropped about $350m (NZ$581m,), or nearly 24 percent, in the March through June period. Looking ahead, though, a $7500 (NZ$12,450) tax credit for US EV buyers will go away in October, which could force the company to further cut prices, and thereby profit margins, to support sales. US buyers account for nearly half of Tesla's sales. Tariffs could bite, as well. Unlike all other major automakers, Teslabuilds every car it sells in the US at its two American plants, helping it avoid 25 percent import car tariffs. But Tesla does depend on imported parts and raw materials, which are still tariffed. Last week, the Chinese graphite used in its batteries became subject to another tariff that raised the costs 160 percent from last year. Perhaps the most serious financial problem facing Tesla is the elimination of the market for regulatory credit sales, which has fed $10.6 billion (NZ$17.6b) to the company's bottom line since 2019. Gas-powered carmakers in the past bought emissions credits from Tesla, since its EVs came in below emissions limits. But the Republican tax and spending bill passed earlier this month removed financial penalties for automakers violating emissions rules. Elon Musk has not stayed out of politics since leaving the Trump administration. Photo: AFP / Angela Weiss Tesla would have lost money in the first three months of the year without its revenue from selling those credits. Tesla CEO Elon Musk will undoubtedly try to focus investor attention on the company's plans for robotaxis and humanoid robots to offset those concerns. It started a long-promised robotaxi service in June - but just a portion of its hometown of Austin, Texas, to friends and fans of the company, and with an employee sitting beside the empty driver's seat. It could be years before a robotaxi service actually makes money for the company. And there's a wildcard: Three months ago, Tesla's quarterly earnings were dominated by the news that Musk was leaving the Trump administration and would be spending most of his time once again running Tesla. But while he stepped away from an official role, he hasn't been able to quit politics entirely, having since had a falling out with President Donald Trump. Now he's announced plans to start a [ third political party. What that could mean for Tesla's own future is murky at best. - CNN
RNZ News
2 hours ago
- RNZ News
Energy reform has to go beyond cheaper off-peak power
First published on Photo: 123rf Opinion - The spotlight is again on New Zealand's energy sector , with a group of industry bodies and independent retailers pushing for a market overhaul, saying the sector was "broken" and "driving up the cost of living". The Commerce Commission and the Electricity Authority has already established a joint taskforce , after prices peaked in 2024, to investigate ways to improve the performance of the electricity market. The Authority recently announced new rules requiring larger electricity retailers to offer lower off-peak power prices from next year. The government is also expected to make further announcements on the sector. But the question is whether these changes will do enough to help New Zealanders live affordably in dry and warm homes. Some 30 percent of households face energy hardship . This means they struggle to afford or access sufficient energy to meet their daily needs. Caused by a combination of poor housing quality , high energy costs and the specific needs of vulnerable residents, energy hardship can lead to serious health issues and high hospital admission costs . We know from our own research over the past 18 years that having power disconnected can negatively affect health and wellbeing. People have told us that not being able to afford enough power to keep warm made them more likely to get sick and exacerbated existing health conditions. They described mental distress from unaffordable electricity and the threat of disconnection. Research participants used words such as "stressed", "anxious" or "depressed". They also spoke about having to choose between food and power bills. If power is disconnected, there can be additional costs from losing food in the fridge and freezer, as well as the problem of paying disconnection and reconnection fees when people already can't afford the bill. People have said not being able to afford enough power to keep warm made them more likely to get sick and exacerbated existing health conditions. Photo: 123RF In 2024, a "dry year" that increased the value of hydro generation, combined with lower-than-usual wind and declining supply of gas, resulted in wholesale electricity price spikes . But these winter shortages aren't the only factor pushing up power bills. Electricity bills reflect several costs along the supply chain from generation to getting the electricity to the sockets in our homes. A new regulatory period for lines charges from April 2025 increased bills by $10 to $25 per month, depending on where you live. At the same time, low fixed daily charges are being phased out . This means the cost of being connected to the grid is the same no matter how much power is used. It is the poorest New Zealanders who are being hardest hit. The lowest income households spend a bigger proportion of their income on power compared to higher income households. Having electricity prices increase faster than inflation will put even more families at risk. The average household electricity bill was up 8.7 percent in May 2025 compared to June 2024 . According to a recent Consumer NZ survey , 20 percent of respondents said they struggled to pay their power bill in the past year. The new Consumer Care Obligations might help reduce some of the risks. Power companies must now comply with these obligations when working with households struggling to pay their bills, are facing disconnection or have someone in the home who is medically dependent on electricity. If households feel their power company is not meeting these obligations, they can contact Utilities Disputes , a free independent electricity and gas complaint resolution service, or the Electricity Authority . But multiple changes are needed to address the different parts of the energy hardship problem. Improving home energy efficiency through schemes like Warmer Kiwi Homes is crucial. Introducing an Energy Performance Rating for houses would make it easier for home buyers and renters to know how much it will cost to power a home before they move in. This would also help target energy hardship support. The government can also make electricity more affordable by supporting not-for-profit power companies . Another good move would be to help more households to install rooftop solar by providing access to long-term low-interest finance . Lower prices during off-peak hours are a good start. But it is clear the sheer size and complexity of the problems mean government action, with community and industry collaboration, needs to go beyond slightly cheaper electricity when there is less demand. Kimberley O'Sullivan is a Senior Research Fellow, He Kāinga Oranga - Housing and Health Research Programme, University of Otago. - This story originally appeared on The Conversation.
