Have courage, business leaders tell politicians over energy reforms
Business leaders in New Zealand are calling for reforms to the electricity sector to boost economic growth by 30 billion dollars annually. The proposed plan suggests separating the generation and retail arms of major energy companies to increase competition and renewable energy supply.
Why it matters
Structural energy reforms are being positioned as a critical lever for national economic transformation and renewable energy adoption.
“Big, brave and bold” – that’s how a two-step plan to reform the electricity sector is being described by its authors.
“Unleashing New Zealand Power” is a policy developed by the Auckland Business Chamber and the Northern Infrastructure Forum, in consultation with business leaders and industry experts.
Chamber head Simon Bridges says it’s a once-in-a-generation opportunity to transform the economy.
“These reforms are bold at one level, because they’re significant, but the time has come and they are imminently implementable,” he told the Herald .
Transpower estimates New Zealand stands to grow the economy by $30 billion annually if it can bring on an additional 20 terawatt hours of supply (equivalent to around half of today’s total renewable energy generation).
But the path to get there is not as tough as some think, Bridges says.
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