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The Government will invest up to $200 million in new Genesis Energy shares to support secure, affordable energy and maintain a 51% Crown ownership. This investment aims to enhance energy security by enabling Genesis to increase flexible capacity and strengthen the long-term value of the state-owned asset. It is part of a broader Government initiative to improve energy reliability and reduce living costs for New Zealanders.
New Zealand has joined 32 member countries at the 2026 International Energy Agency Ministerial meeting in endorsing a Declaration to strengthen global cooperation on critical minerals essential for the clean energy transition and long-term energy security. The Declaration directs the IEA to enhance data collection, market monitoring, emergency preparedness, and innovation in recycling and recovery, while New Zealand aims to leverage its mineral resources and strong environmental standards to become a reliable supplier in global critical mineral supply chains. Resources Minister Shane Jones emphasized that responsible development of these minerals will boost economic resilience, create skilled jobs, and strengthen international partnerships.
The Government is introducing the Social Security (Accident Compensation and Calculation of Weekly Income) Amendment Bill to clarify how ACC payments affect welfare entitlements and ensure fair treatment between different recipient groups. The bill aims to align the law with longstanding policy by authorizing MSD to retrospectively adjust benefits when backdated ACC payments reduce welfare to zero and to prevent inequities where some recipients receive dual income support for the same need. This legislation responds to court rulings and will not apply retrospectively to cases filed before the bill’s introduction, promoting fairness and certainty in the welfare system.
Andy Knight has been appointed chair of the expert panel advising the New Zealand Government on applications to the $200 million Gas Security Fund, which aims to enhance domestic gas supply and storage amid declining production. The panel also includes geophysicist Tim Allan and energy sector professional John Pagani, with two more members to be appointed, and will provide independent, expert advice to decision-making ministers Shane Jones and Chris Bishop. The fund, administered by Kānoa – Regional Economic Development & Investment Unit, supports projects with short- to long-term benefits to secure affordable and reliable gas for New Zealand’s economy.
The New Zealand Government will build a liquefied natural gas (LNG) import facility to enhance energy security, stabilize electricity prices, and support economic growth amid declining domestic gas supply and increasing reliance on coal and diesel. This facility, expected to be operational by 2027 or 2028 in Taranaki, will provide a reliable backup fuel source, potentially saving households $50 annually and protecting around 2,000 jobs by reducing price spikes and supply risks. The project aims to foster competition, enable resource development, and support gas-dependent industries while minimizing exposure to international gas prices through strategic import management.
A grant of up to $1.26 million from the Regional Infrastructure Fund will support the Whiti Mai Te Rā project, installing solar panels, batteries, and a diesel generator at a kura and five marae north of Kaitaia to provide reliable, affordable electricity and enhance energy security. The initiative, led by the Aupouri Ngāti Kahu Te Rarawa Trust in partnership with Kaumātua Energy, aims to save over $100,000 annually in energy costs and strengthen community resilience during emergencies. Installation will begin in March 2026, ensuring these vital community hubs can serve as stable civil defence centers for generations to come.
Construction has begun on a sustainable green hydrogen facility in South Taranaki, supported by a $19.9 million government investment and additional co-funding, with a total project cost of up to $112.3 million. The facility will supply renewable electricity to Ballance Agri-Nutrients' Kapuni site and produce green hydrogen for emissions-free transport, creating around 50 construction jobs and seven permanent roles. This project, a partnership between multiple organizations, aims to boost the regional economy by integrating wind energy, renewable electricity, and zero-carbon hydrogen fuel production at scale.
The New Zealand Government is investing up to $35 million through the Regional Infrastructure Fund to support OpenStar Technologies in developing a specialised fusion energy research facility. OpenStar is pursuing a unique fusion design with potential advantages in stability, cost, and scalability, aiming to position New Zealand as a leader in this emerging, carbon-free energy technology. This investment aims to boost innovation, attract international funding, create high-value jobs, and generate potential benefits for sectors like aerospace and medical technology.
The New Zealand Government is strengthening the Electricity Authority by amending the Electricity Industry Act to increase penalties for rule-breaking, introduce instant fines for minor breaches, and enhance market monitoring to ensure fair competition and protect consumers. These changes, alongside new appointments to the Authority’s board, aim to address high power bills, improve energy security, and foster a reliable, affordable electricity system. Concurrently, the Government is advancing energy projects and regulatory reforms to support abundant supply and manage risks like dry-year shortages.
The New Zealand Government is launching Open Electricity to help households and small businesses easily compare and choose the best power plans, enhancing competition and transparency in the electricity market. This initiative, following Open Banking regulations, will provide secure access to individual electricity consumption data, enabling consumers to optimize energy use, save money, and make informed decisions about energy-related investments. Changes will begin in September 2024 and be completed by mid-2027, benefiting around two million households and 165,000 small businesses with improved choice, innovation, and cost savings.
The $200 million Gas Security Fund, opening on 12 January 2026, aims to increase natural gas availability in New Zealand by supporting projects that accelerate supply or enable storage for critical demand periods. Declining gas production is raising costs and hindering economic growth, making natural gas essential during the transition to renewable energy sources. A new gas advisory panel will provide expert guidance to ministers, ensuring informed decisions amid the complexities of gas exploration and market conditions.
The New Zealand Government is updating health and safety regulations to better support the growth and innovation of the hydrogen sector, addressing outdated rules that hinder development. These changes include specific requirements for hydrogen infrastructure, easier approval processes, and adoption of international standards, aiming to balance safety with reduced compliance costs. By implementing these reforms, the government seeks to accelerate hydrogen adoption, drive economic growth, create jobs, and advance sustainable energy goals under the Hydrogen Action Plan.
New Zealand’s Government is replacing the Resource Management Act 1991 with two new bills to streamline the planning system, aiming to accelerate renewable energy projects by cutting red tape and reducing costs. Energy Minister Simon Watts highlights that the reforms will provide clearer national policy direction, faster consents, and investor certainty, supporting a renewable electricity boom with 95% of future electricity from clean sources. The bills will be introduced to Parliament soon, with the goal of becoming law by 2026, and public input will be sought through the Select Committee process.
On 5 December 2025, Australia and New Zealand held their third Climate and Finance Ministers’ 2+2 Dialogue, emphasizing collaboration on climate action, renewable energy investment, and regulatory alignment to lower energy costs, enhance security, and capitalize on economic opportunities from the net zero transition. They committed to joint initiatives including upgrading energy efficiency programs, aligning EV and battery standards, supporting sustainable aviation fuel development, and advancing sustainable finance frameworks to boost trade and investment. Additionally, the ministers reinforced their partnership in supporting Pacific resilience, coordinating economic reforms, and fostering regional cooperation to address climate impacts and promote long-term prosperity.
A $1.6 million grant from the Regional Infrastructure Fund will support a new solar project to strengthen electricity supply for the remote Māori community of Horeke in Northland, benefiting around 100 households, five marae, and one school. The upgrade will address frequent power outages, reduce reliance on diesel and gas, and enable economic growth through eco and cultural tourism. The grant, provided to the Utakura 7 Incorporation trust, will fund construction and network improvements to enhance energy security and support essential services, especially during extreme weather events.