Source: BusinessNZ
NZ’s energy system must keep improving to provide for NZ business competitiveness while simultaneously moving to net-zero emissions, BEC says.
“As NZ continues its energy transition, pressures to maintain an affordable and secure energy system are climbing. Within this context it is important to keep track of how the country is performing on the global stage.
“Over the last decade the World Energy Council’s annual trilemma report has provided this invaluable context, but due to major overhauls, is not releasing one this year.
“While not a direct replacement for the trilemma report, our research has benchmarked NZ against a diverse group of countries, selected on the basis of top and bottom trilemma placings, economic and geographic similarities, and importance as trading partners.”
The report includes notable insights into how other countries manage their energy sectors, including:
– China’s strategy of cross-subsidised pricing to combat hardship;
– Ireland’s economic management given relatively high energy prices;
– The consequences of capacity payments within Pakistan’s energy sector;
– Diverse national approaches to achieving energy security; and
– Iceland’s accomplishment of nearly 80% renewable energy consumption.
“Although the primary purpose of this report is not to rank countries but rather to highlight opportunities for improvement, it is noteworthy that NZ performs well, achieving an overall ranking of 5 th within the 16 countries considered.
“Continued improvement when compared to NZ’s international peers is essential for ensuring NZ business competitiveness while continuing the push towards net-zero emissions,” Tina Schirr said.
