Source: New Zealand Government
The Government’s plan to ensure secure, affordable electricity for New Zealanders is working, with data today showing new records for renewable generation and a significant drop in wholesale electricity prices, Energy Minister Simeon Brown says.
Data from the Ministry of Business, Innovation & Employment for the three months ended 30 June this year shows:
- The highest ever solar generation for a June quarter, at 242GWh – 56.2 per cent higher than the same quarter last year
- A new record for geothermal generation in any quarter, at 2,621 GWh – 5.5 per cent higher than the same quarter last year
- A June quarter record of 92 per cent electricity generation from renewable sources
- Wholesale electricity prices fell 66 per cent compared with the same quarter last year
“These are significant wholesale price decreases, reflecting a number of factors including the Government’s decision to procure an LNG import facility to support renewable electricity,” Mr Brown says.
“This Government has also delivered policy to drive investment in the energy sector through the fast-track approval of eight renewable energy projects, and the reversal of the previous Labour Government’s oil and gas exploration ban.
“However, these figures also reinforce that the electricity system still depends on hydro lake levels as security to keep the lights on, which are susceptible to dry years.
“Significant April rainfall means we got through this winter with high hydro in-flows and above average storage levels. But in a winter when lake levels are low, the sun isn’t shining, and the wind isn’t blowing, New Zealand continues to rely on backup thermal generation to prevent power prices spiking and potential shortages that see industry shut down.
“That didn’t happen this year, but it did in 2024, and history shows that it will happen again. With dwindling natural gas supplies due to the previous Labour Government’s decision to ban oil and gas exploration, the country’s energy security has been put at serious risk in a dry year. That is why this Government is procuring an LNG import facility to ensure that during a dry year we can keep the lights on and protect consumers from price spikes.
“Investment in renewables will continue only while people know the system can be supported in a dry year, which was what LNG will provide.
“While today’s data release is encouraging, it also points to a need for continued focus on a secure and affordable energy supply, which is what this Government is focussed on.”
Original source: https://nz.mil-osi.com/2026/09/10/new-records-show-energy-policies-are-delivering/