National Unveils Plan to Make Power More Affordable with Secure Renewable Energy

New Zealand's National Party has outlined its plan to make power more affordable for households and businesses. Delivering secure, affordable energy is critical to their plan to grow the economy and support Kiwis with the cost of living.

Over the past term, National has undertaken significant actions to enable new renewable generation, supported by backup supply and pro-competition rules. As a result, wholesale electricity prices have fallen significantly, and the country now has the strongest pipeline of new renewable generation in a generation.

The Electricity Authority reports that more renewable generation has been built in the last three years than in the previous eight. This means there's a credible path to more affordable electricity prices over time for households, and lower wholesale prices also support businesses remaining internationally competitive.