Source: ASB Bank
8 October 2026
- Energy is now the second biggest concern of Kiwi businesses, with 73% concerned about current energy costs, closely behind the 79% concerned about general economic uncertainty.
- Fewer than 40% of businesses expect they could continue operating for more than three days if their primary energy source was down.
- ASB has partnered with Tether to launch Better Buildings, an industry-first platform to help Kiwi businesses invest confidently in more efficient, sustainable and resilient buildings.
More than two-thirds of New Zealand businesses are concerned about current and future energy costs, new research by ASB shows. Nearly one-third have raised prices because of energy costs or supply uncertainty, while one in five have reduced production, hours or output.
The survey of over 400 business leaders[1], supported by Talbot Mills Research, found seven in ten businesses say energy is a major or actively managed cost for their organisation, while the same proportion report that their energy costs have increased compared with two years ago.
The findings also reveal a gap between perceived resilience and actual preparedness. While nearly two-thirds (64%) believe their business is well equipped to keep operating through a prolonged power outage, only 37% expect they could continue operating for more than three days if their primary energy source was down.
In addition, more than a quarter of businesses (28%) have identified energy as a risk but do not yet have a plan in place to address it.
ASB Executive General Manager Corporate Banking Jonathan Oram says the findings suggest businesses need to treat energy as a strategic business issue, not simply an operational cost.
“Businesses clearly recognise the growing challenges posed by rising energy costs and potential supply disruptions, driven by declining domestic gas reserves, the Middle Eastern conflict, and global political uncertainty, yet many are not taking action.
“Technologies like solar power, battery storage, and electric vehicles are advancing rapidly. Research shows that businesses could reduce their energy costs by up to 20% through greater energy efficiency [2].
“Taking action on energy resilience today can help businesses reduce costs, manage risk and create a stronger foundation for long-term success. ASB is helping businesses through practical support, tools and trusted expertise, giving them the confidence to act and adapt in this uncertain environment.”
ASB partners with Tether to launch Better Buildings
More than 40% of businesses surveyed spend at least 40% of their energy costs on buildings and facilities. ASB has partnered with building performance company Tether, to launch Better Buildings.
This industry-first platform, available from today via ASB’s website and www.betterbuildings.co.nz, is designed to help property investors, owner-occupiers and their tenants reduce investment uncertainty and improve the efficiency, sustainability and resilience of their buildings.
“Better Buildings helps businesses identify energy resilience opportunities, build the business case for investment and create better-performing, future-ready buildings. When businesses are ready to invest, ASB can support eligible projects through our sustainable finance solutions,” Oram says.
Tether’s Founder and CEO, Brandon van Blerk, says: “Too often, property owners and occupiers have had to navigate building advice, suppliers and finance separately, making it harder to turn opportunities into action. Better Buildings brings the process together in one place, helping businesses build stronger investment cases, access funding and measure results.”
ASB has funded the expansion of the NABERSNZ energy efficiency certification scheme, enabling more businesses to measure and optimise their energy use.
As part of the expansion, shopping centres, retail stores, warehouses and cold stores can access the scheme from today. Administered by the New Zealand Green Building Council on behalf of the Energy Efficiency and Conservation Authority (EECA), NABERSNZ independently verifies a building’s energy performance through a one to six-star rating system. The expansion builds on the success of the tool in New Zealand’s office sector, where it has been widely used since 2014.
Access to Energy Consultants
For businesses with more complex energy needs, ASB is supporting access to independent energy consultants to help them identify opportunities to improve energy resilience, understand potential returns, and develop a roadmap for implementation. Eligible customers who proceed with qualifying ASB lending can receive reimbursement of consultancy costs of up to $50,000.
Investing for the Future
While the survey found 43% of businesses see upfront costs as the biggest barrier to investing in energy resilience, ASB offers a range of sustainable finance lending products for business and corporate customers. These include business sustainability loans, lending under the Government backed Gas Transition Loan Guarantee Scheme, as well as specialised lending for larger projects.
Notes
- The full ASB Business Survey can be found here.
- Through ASB’s Pathway to Resilience, the bank is committed to helping Kiwi businesses build resilience, improve performance and lower operating costs. Through its broader Pathways to Progress programme, ASB is supporting businesses to become more productive, resilient and better positioned for long-term success. More information about how ASB is backing business is available here.
- ASB recently teamed up with DETA to release ‘Opportunity in an Era of Energy Shocks’, a report exploring changes, challenges and possibilities during New Zealand’s energy transition. The full report is available here.
[1] Results in this report are based upon questions asked in a Talbot Mills Research online survey. The basis of the sample is n=406 NZ business leaders (business owners, C-suite, senior management). 402 were recruited from panel provider Dynata, and 4 were provided by ASB.
[2] Source: Sustainability Business Network, ‘Saving Energy’