Energy Resources releases briefing to new Government

Energy Resources Aotearoa has released its briefing to the new Coalition Government ‘Refocusing our energy future’. The briefing sets out the energy sector’s opportunities and challenges that the new administration is facing, and outlines the policies the sector would like to see implemented.

Refocusing our energy future makes several key recommendations including removing the previous Government’s 100% renewable electricity target, introducing a regulatory framework for carbon capture and storage, and resuming oil and gas exploration.

Energy Resources Aotearoa Chief Executive John Carnegie says:

"We are pleased to release our briefing to the new Government. It could not come at a better time. New Zealand is facing several challenges in the energy space, with recent reports showing how declining natural gas supply is threatening our energy security and collective prosperity. We need a secure and reliable energy system to deliver for all New Zealanders.

"Governments shouldn’t be picking fuel or technology winners. We need to use all natural energy resources and technologies available to us to power our economy, while enabling new sources of energy and emissions reductions technologies like carbon capture and storage. Sitting by while the country deindustrialises, living standards slip, households pay high prices for energy, and blackouts become the norm, cannot be our energy future.

"Our policy prescription would help unlock a prosperous future for New Zealand, with abundant, reliable, diverse and low-emissions energy to power industry and provide affordable energy for households, while allowing the ETS to do its job and deliver net zero emissions."

Carnegie says that contrary to previous policy settings, this path will not jeopardise New Zealand’s energy security.

"In 2018 halting offshore oil and gas exploration was touted as world leading. Five years on, we stand alone among developed countries, while also facing the likelihood of black outs. We may well soon be standing alone in the dark unless we can get the right policy settings in place to bring more energy online.

"The new Government has an opportunity based on sound evidence to set things right for all Kiwi consumers and businesses."

Recommendations include:

  • Dropping the 100% renewable electricity by 2030 target
  • Use the Energy Resources Sector Net Zero Accord as a platform for Government collaboration
  • Reverse the 2018 oil and gas exploration ban
  • Introduce an arbitration mechanism for oil and gas permit and license holders
  • Establish an enabling regime for carbon capture and storage projects
  • Address regulatory barriers to the uptake of biomethane, hydrogen, and biofuels
  • Implement the Energy Sector Industry Skills Action Plan

Refocusing our energy future is available to read here.