NZ capitalising on abundant energy resources

The latest Energy in New Zealand (ENZ) report shows the proportion of renewable energy making up our domestic supply is at a record high, Energy and Resources Minister Simon Bridges says.

ENZ is the Ministry of Business, Innovation and Employment’s annual, flagship publication on key trends in the energy sector.

It shows that in 2014, renewable energy made up 39.5 per cent of New Zealand’s total primary energy supply. 

Total primary energy supply is a measure of all the energy used domestically in a country.  It includes all raw energy produced domestically (such as coal, oil and gas, hydro, wind, geothermal heat, and biomass) and all energy imported for use (such as petrol and diesel).

“This is a record high and places New Zealand third in the world, behind only Iceland and Norway – countries which have long been considered world leaders on this important measure.

“It’s a fantastic result and shows we are making real gains in transitioning to a lower carbon economy,” Mr Bridges says.

“As I announced earlier in the year, in 2014 renewable electricity generation hit 79.9 per cent, the highest level since 1996.

“We have an abundant mix of renewable options to meet our energy needs.  These latest figures show more and more businesses are making the most of New Zealand’s renewable advantage.  The Government will continue to promote initiatives, such as Wood Energy South, to help realise the renewable energy potential in our own back yard.”

Other key insights in the report show oil and gas exploration was also up in 2014, with over $2 billion spent – the highest level of expenditure on record.

“The Government’s approach to encouraging oil and gas exploration has generated serious momentum and I am optimistic this will continue even in tough global conditions.

“As the world transitions to a low carbon future, energy diversity is the key to achieving energy security, accessibility and affordability, and environmental sustainability.

“This is why this Government takes a long-term view, with a mixed and balanced approach where we’ll pursue opportunities in both renewable and non-renewable energy,” Mr Bridges says.

To view the ENZ, click here.