The Government is taking significant steps to ensure that all Coasties have access to affordable and secure electricity.

Energy Minister Simeon Brown recently unveiled the Government Policy Statement (GPS) on electricity, which lays out a comprehensive plan aimed at keeping electricity prices competitive for both households and businesses.

“New Zealand’s economic growth and prosperity relies on Kiwi households and businesses having access to affordable and secure electricity at internationally competitive prices.

This is one of the Government’s top priorities,” Mr Brown said.

The GPS sets forth the Government's expectation that the Electricity Authority will promote a more competitive and fuel-agnostic electricity sector.

The goal is to ensure that this sector operates in the long-term interests of consumers while avoiding excessive pricing.

Energy Minister Simeon Brown

Mr Brown explained that an increase in electricity demand is anticipated due to the electrification of transport and industrial processes.

“In the coming years, New Zealand will see greater electrification of transport and process heat. This will shift demand from imported fuels to domestically produced electricity, and more distributed electricity generation will be brought online to enhance regional resilience,” he said.

To meet this demand, the Government has set a goal to double renewable electricity generation.

The plan includes committing to policies that encourage private investment in this area.

"The GPS provides certainty about the Government’s role in the sector. This certainty will help create a stable investment environment for renewable energy, driving affordability through a secure supply," Mr Brown added.

He also noted that previous government interventions had sometimes resulted in higher prices and dampened investment.

“The GPS confirms that the role of Government is to ensure the market settings are right, enabling the private sector to invest and allowing consumers to benefit from innovations,” he stated.

Moving forward, the Electricity Authority will consider the GPS as it works to create the right market conditions to stimulate private sector investment and help consumers take advantage of advancements in energy supply.

As our community navigates these developments, the Government's commitment to affordable electricity may play a pivotal role in supporting local businesses and households on the Hibiscus Coast.