PM Edition: Top 10 Business Articles on LiveNews.co.nz for April 10, 2026 – Full Text

Source: Radio New Zealand

BusinessNZ has made its case to ministers as to why the food and grocery sector should be put in the highest priority level of any fuel rationing framework.

Top chief executives – from the organisation’s Major Companies Group – took part in an hour-long call on Thursday morning, featuring Prime Minister Christopher Luxon, Finance Minister Nicola Willis and Associate Energy Minister Shane Jones.

BusinessNZ chief executive Katherine Rich told RNZ that attendees sought “greater clarity” from the government on how fuel rationing would be implemented if it activated the more extreme phases of its National Fuel Plan.

She said Willis encouraged business leaders to take part in the current consultation process and to keep sending through their on-the-ground insights.

Rich, who previously led the Food and Grocery Council for more than a decade, said she lobbied for the food industry to be given highest priority alongside other “life-supporting services” in Band A, like hospitals, courts and lifeline utilities.

“Feeding people is about supporting life and maintaining calm,” she said.

Under the draft framework published in March, food supply and distribution were categorised as “economically important services” and placed in the second highest priority level, Band B.

Rich said ministers did not signal where decisions might land, but business leaders felt their views were valued: “We do feel heard.”

The session brought together representatives from some of the country’s largest employers, spanning sectors including banking, infrastructure, tourism and logistics.

As well as the ministers, it included senior officials from Treasury, the Ministry of Business, Innovation and Employment, and the Ministry of Foreign Affairs and Trade.

Officials also invited ongoing input from industry, Rich said, particularly around red-tape or practical challenges businesses might face if fuel supplies tightened.

She said that level of engagement marked an improvement on the Covid-19 response, with businesses now being given more opportunity to contribute to decision-making.

“We’re facing a very fast-moving situation, and the information flow is very important,” Rich said.

“There’s a lot here that business can do on its own to try and work around some of the international disruption, but we need to make sure we keep the government informed.”

Rich said attendees found it “valuable” to ask questions and share their views, and they left the meeting with confidence that ministers and officials were doing everything they could to ensure New Zealand was in a strong position to deal with any disruption.

Speaking from Nelson on Thursday, Luxon told reporters the government was “working really closely” with industry players, including daily contact with the fuel companies.

“We have worked well in partnership, incredibly well. And we’ve also put New Zealand’s Commerce Commission on watch from day one to make sure that fuel companies are not gouging New Zealanders, and we haven’t seen evidence of that.”

Asked about the latest developments in the Middle East, Luxon said the potential for a ceasefire was promising but very fragile.

“We’ve got a long way to go. There’s a lot of trust that needs to be built back between the US and Iran, and we… encourage everybody to put best efforts forward to get to that long, lasting peace that we desperately need.”

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Source: Media Outreach

New initiative equips finance, audit and accounting professionals with immediately applicable AI skill from Excel automation to AI agents as demand for practical AI capability accelerates across the region

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Source: Radio New Zealand

Madleine CarrWhite, Massey Journalism Student

Northland communities are again bracing for the arrival of wild weather, only a couple of weeks after heavy rain and wind devastated parts of the region.

Cyclone Vaianu is set to touchdown in Northland this weekend, with authorities across the North Island preparing to withstand the potentially life-threatening storm.

Residents, businesses and growers across parts of Northland are now preparing for the Cyclone and what it might mean for their homes and livelihoods.

The organising efforts of Northland’s west coast

The Hokianga area – located on Northland’s west coast – was hit particularly hard by heavy rain and wind that struck the region in late March.

Whirinaki Trust chair Ruth Tautari has been organising the recovery effort for her community, told RNZ a number of evacuation centres were being stood up around Hokianga.

“We’ve just been going around Whirinaki, just giving everyone an update on the storm itself… just making sure that they are prepared, whether they have water in their tanks, making sure they’ve got the essentials they need to keep them going in the event that we get cut off for a couple of days with no power and no roading.” she said.

Tautari said many whānau were still dealing with the affects of recent flooding leaving them feeling “anxious”.

“We had six homes that were completely lost… the water went through and those whānau had to evacuate. We’ve got three whanau that are currently in temporary accommodation and the other three whānau are living with their whānau all outside of Whirinaki at the moment.” she said.

“The rest of the whānau in Whirinaki, they’ve just been going through re-establishing their access ways like roading, their sanitation, their septic tanks and removing all of the rubbish that got pushed down into their whare and just trying to get back to some sense of normal reality.”

As the cyclone bears down, a series of service hubs – called Rai ki te Rai – have been set up across the North. Tautari said welfare agencies and hauora organisations would be present.

“We’ve also got some of the teams from the Ministry of Housing and Urban Development to at their temporary accommodation services that they provide, but also a lot of mahi from the civil defence teams from Northland Regional Council and the whānau Far North District Council are coming up.”

“It’s quite heartbreaking to watch whānau go through it over again and just watch the stress come when the rain gets heavier, knowing that they could have to move from their whare but also that they could have to go through the whole situation again, removing silt, waters going through our marae and just the toll it takes, not just physically, but a lot of mental and emotional tolls.” she said.

‘It’s not an easy time’

Former Ngāti Hine Forestry Trustchief executive and Green MP Hūhana Lyndon has been up North helping with the recovery effort. She told RNZ that the region now had to quickly switch it’s focus from recovery to readiness.

“The weather is comparable to Cyclone Gabrielle and touch down as early as lunchtime Saturday, whānau are now gearing up to brace and prepare for impact.” she said.

“We already have a stressed rohe or district from the last storm, it’s not an easy time”

Lyndon said she was in regular touch with local and central government, as well as marae and community members.

“There’s been a lot more response and pace by which people are moving now that we know that it’s coming, and the size and scale of what it could be.” she said.

“We’ve gone through Cyclone Gabriel, we’ve seen it, we’ve recovered from it. But it’s coming again, and it’s coming with significant impacts to Northland.”

Lyndon said marae were key parts of the region’s resilience infrastructure and should be resourced properly.

“We don’t have solar, we’ve got gaps in generators, we’ve got whānau who are cut off. They cannot get across to their home, and culverts are out. We need, sparkies, we need to be checking that are waterlocked… we are getting there, but unfortunately we’ve got a storm coming so it’s a bit of recovery as well as preparedness that’s going on right now.” Lyndon said.

Storms frieghtening for growers during prime harvest

The owner of a Wairoa business says everyone in the town is just hoping for the best.

Dianne Downey’s lime growing business was devastated after a nearby river burst it’s banks in 2024.

She is part of a class action lawsuit lodged against Hawke’s Bay Regional Council after many homes and businesses were flooded, with questions being asked about whether the river bar crest should have been lowered ahead of the weather event.

Downey said this latest storm was frightening for growers across the region.

“I’ve got pickers out there flat out picking at the moment because I just don’t want to lose all our fruit, we’re in prime harvest and all these growers around here are, so it’ll be the worst thing in the world if it all went pear shaped for us right now.”

Hawke’s Bay Regional Council said work was underway to maintain the lowered crest of the Wairoa bar to mitigate flooding.

Metservice has forecasted heavy rain and gale winds for Wairoa and surrounding rural areas on Sunday.

East Cape businesses getting geared up

Businesses in Hicks Bay say their community is resilient in the face of weather events.

RNZ spoke to businesses in Hicks Bay, where storms had badly hit the community at the start of the year.

One business told RNZ that there is no panic ahead of Cyclone Vaianu’s anticipated landfall this weekend.

A supermarket says people are getting extra supplies to prepare but aren’t getting more than what they need.

The store clerk says they want to stay open as long as it is safe so that they can be available to the community.

Retailers say the community is preparing to be self-sufficient, having learnt from the storms at the beginning of the year which caused roads to close and cut locals off from the rest of the motu.

A business owner says locals are getting used to living with severe weather events.

Cyclone Vaianu is expected to reach Northland late on Saturday night.

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Source: Radio New Zealand

NZME says its workplace review has identified “two specific issues” still to be addressed in the coming weeks.

The NZME board of directors commissioned the review in February, after three senior managers were terminated last year.

One of them was former OneRoof chief executive Greg J Hornblow, who admitted paying a 14-year-old for sex.

NZME chief executive Michael Boggs told RNZ in April Hornblow was under an employment investigation over other complaints at the time and was sacked when the company learned of his arrest.

He said Hornblow faced disciplinary action, and was alleged to have “demonstrated inappropriate behaviour” at a work function and received a final written warning.

A formal complaint was then made against Hornblow that included accusations he had made “inappropriate comments” at meetings and in the office.

During this process in November, NZME learned of his charge.

“When we learned of the charge, we immediately terminated his employment,” Boggs said.

Separately, ZM content director Ross Flahive was dismissed and Nicholas Hammond left NZME in December.

In an email to staff, NZME board chair Steven Joyce said the review looked at the events leading up to those departures, with a focus on how concerns were raised and responded to, and whether staff felt safe and supported, if they witnessed or experienced inappropriate behaviour.

“Firstly, the review concluded that the departure of the three senior managers from OneRoof and ZM addressed the specific safety and welfare issues, which were identified at the time in those two businesses.

“The review identified two other specific issues elsewhere in the company for referral to Michael [Boggs] and the senior leadership team. These will be addressed in the coming weeks.

“For reasons of natural justice and fairness to all parties, we are not currently able to provide any additional information on them.”

He said the review also found NZME had work to do to “promote and maintain a supportive work environment in which employees and other persons are treated with respect and dignity”.

“The reviewer found that NZME has adequate systems in place to enable reporting of inappropriate conduct, but for a number of reasons, including matters specific to the circumstances in each case, these were not accessed for some time at either OneRoof or ZM.”

To encourage people to report inappropriate conduct in future, the businesses needed to be clear that safety and welfare of staff was an “absolute priority”.

“We will not sacrifice staff safety to meet any other objective in the business. If you sense that is happening at any time, please communicate your concerns directly to Michael as CEO of the company, Steven as chair or to Sussan Turner as chair of the people, remuneration and nominations committee of the board.”

Joyce said Boggs and the management team would ensure all available reporting channels for any concerns and allegations were clearly visible and accessible, so every matter raised was promptly and thoroughly investigated.

“In addition, the roles of wellbeing advocates will be strengthened across the business, ensuring you know who they are and what they can help with – whether that’s advice, a listening ear or acting as a support person, if you need one.

“Members of the company’s people and culture team will be more visibly embedded within the business, being present, approachable and focused first and foremost on the welfare of our people. This will mean more regular and proactive check-ins with business units, providing regular updates and information on reporting processes, and ensuring people have the confidence to report concerns, because they know the information will be treated confidentially.”

Manager training would be refreshed at all levels, he said.

“You have the company’s commitment that any complaint (formal or informal) about inappropriate behaviour, either directed at you or witnessed by you, will always be taken seriously and assessed promptly. Where an investigation is required, it will be carried out fairly and thoroughly, with appropriate action taken based on the findings.

“The company will also check in regularly with complainants and provide appropriate support to them.

“Where it is deemed necessary to ensure your health and safety in the workplace, the executive team will suspend employees who are being investigated for serious misconduct.

“Once an investigation is complete, the leadership team will share outcomes as far as they are legally able to and they will provide feedback directly to the person who raised the concern.”

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Source: Media Outreach

The new investment was committed by existing shareholders, backed by leading global investors, reinforcing conviction in ESR’s strategy, platform, and growth momentum.

The capital will be deployed to fund growth initiatives across ESR’s logistics real estate and data centres platforms. This builds on the significant progress achieved following ESR’s privatisation in July 2025, as the Group advances its strategic transformation into a more focused business positioned for long-term growth.

In line with this strategy, since January 2025, ESR has realised more than US$2 billion in net proceeds through the divestment of non-core holdings and recapitalisation of balance sheet assets, simplifying the portfolio and recycling capital into core growth sectors.

Together, these developments have strengthened ESR’s ability to scale its fund management and development platforms, while capitalising on long‑term structural tailwinds including e-commerce growth, supply chain reconfiguration, and accelerating digitalisation.

Phil Pearce, President of ESR, said, “ESR has entered its next phase of growth with a stronger capital base and a more focused platform. As global capital continues to shift toward APAC, investors are increasingly seeking managers with local depth, strategic clarity, and a proven ability to execute in an evolving market environment.

We are pleased to be deepening our partnership with leading global investors, who are not only shareholders, but also long-term capital partners across our platform. With a sharpened focus on logistics real estate and data centres, we are accelerating development and fundraising while driving sustained growth in leasing and capital deployment. Looking ahead, we remain focused on scaling our core business with discipline and delivering long-term value for our capital partners and customers.”

ESR’s growth strategy is centred on priority markets in Australia, Japan, and South Korea, while expanding opportunities across Greater China, India, and Southeast Asia. Reflecting the strength of its institutional relationships, ESR partners with 12 of the world’s top 20 real estate Limited Partners and has raised an average of US$3.8 billion annually across its key sector mandates over the past five years.

In logistics real estate, demand continues to concentrate on modern, large‑scale, and well‑located logistics assets near consumption hubs and major population centres. Serving over 1,500 customers, ESR is advancing an approximately US$9 billion development pipeline to meet evolving customer needs while creating investment opportunities for capital partners.

Leveraging the scale and depth of its APAC platform, ESR’s data centres business is differentiated by its ability to secure land and power early in the development cycle, supporting a pipeline of over 3 GW of capacity for phased development in key growth markets.

https://www.esr.com/

Hashtag: #ESR

The issuer is solely responsible for the content of this announcement.

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Source: Radio New Zealand

A long-promised project to shift Stewart Island to solar power could be underway within months and operational by Christmas, officials say.

Rakiura’s 480 residents currently rely entirely on diesel for power generation, and are bracing for a steep rise in prices due to the conflict in the Middle East.

Southland Mayor Rob Scott said officials were looking at ways to speed up progress on the planned solar farm, which secured a $15 million government loan last year.

The council was about to apply for consent and, under the Resource Management Act (RMA), was seeking to classify the project as emergency works to be carried out in exceptional circumstances, he said.

“This is certainly an exceptional circumstance … so we’re currently exploring Section 330 of the RMA, which would enable us to get started while going through the consenting process,” he said.

The aim was to begin construction in June, and it could not happen soon enough, as far as Scott was concerned.

The solar farm would reduce diesel consumption for electricity by about 75 percent, he said.

“I guess the project’s kind of proven its value now. One of the reasons why we’ve done it is not just to address the high power prices that residents on the island were already paying, but to take out some of this vulnerability, the susceptibility to high diesel prices which we’re experiencing right now,” he said.

Long time resident Sharon Ross said she was setting aside cash in preparation for this winter’s power price hikes – and she dreaded finding out just how much of an impact global fuel price surges would have.

In a normal year, her household spent between $500 – $800 per month on electricity, she said.

Ross, who is also the co-owner of the island’s only petrol station, said fuel at the pump had gone well over the $4-a-litre mark.

“We are expecting this winter is going to be a lot harder than other winters have been for us,” she said.

Southland District councillor Jon Spraggon, from the Rakiura ward, said the council-owned power station had issued a warning to residents to conserve electricity where they could.

“It’s worth noting the price of diesel for the council for the power supply went up 45 percent in the last week, so that’s going to have to be passed on somehow,” he said.

There were limitations on how quickly the council could raise the price, but residents could expect a few “short steps” up in their power bills, he said.

“There’s no way we can hold the power price down, and people are going to have to look at the amount of power that they actually use.”

Spraggon said he was optimistic the solar farm could be running by Christmas.

“The community board chair and I are spending a lot of time trying to get this through as fast as we can,” he said.

Residents seeking their own solar power

Local business owner Helen Cave said the power bills for her hotel and fish processing business were already more than $10,000 a month each.

The potential for further price hikes this winter had prompted her to explore alternatives, she said.

“I’d rather pay more than not have it, but I have ordered some solar panels,” she said.

Resident Morgan Bellworthy Hamilton said he, too, was looking at ways to reduce his own reliance on the grid, even with the promise of an island-wide transition.

“We’ve been talking about solar, and I think it probably is the best option for us, as a house, to get solar,” he said.

Snuggery Café co-owner Simon Moir, who used solar to offset his power bill by about 30 percent, said he was excited for the whole-island upgrade but wary it would not be a silver bullet.

Rakiura’s climate made it a difficult place to rely on the sun for electricity, he said.

“I’m pretty excited for it, but I don’t know how much it’s actually going to fully cover and what sort of price reduction that will truly create … we don’t have a lot of sunshine here just because of where we’re positioned in the world, and we get a lot of cloudy days,” he said.

“But I’m really grateful that our Southland mayor has finally taken the true steps to get it across the line and get the money from the government to pursue this.”

A project long in the making

Stewart Island’s solar project follows a mooted hydro scheme and a failed wind farm.

Ross said when it came to switching the island off diesel, there had been years of false starts.

“When we moved here 14 years ago, we seemed to be in the exact same conversation. And they kept on doing studies, and they would revisit these studies, and nothing happened. And we’re thinking, if this is the third, well, probably fourth time that it’s been reviewed, and nothing is going to come of it again, it would be so incredibly frustrating,” she said.

Scott said while there were still hurdles to work through, residents could be assured that this time was different.

“I don’t accept failure and I’ve given the island my word that this project’s going to go ahead,” he said.

The volatility of global oil markets was another reason to make the project happen as soon as possible, he said.

The solar farm would not bring prices down to mainland levels, but would help lower bills and make them more predictable, he said.

“We do need to factor in the maintenance and the replacement of the solar farm. So the prices are still going to be relatively high, but they are going to be certain and stable,” he said.

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Source: Radio New Zealand

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Source: Radio New Zealand

The fuel industry says people should start seeing some relief at the pump over the next week, despite motorists using diesel fearing prices could reach more than $4 a litre.

Following news of the US and Iran ceasefire, oil prices have fallen, which Waitomo Group chief executive Simon Parham, said was positive news for prices of fuel.

Parham told Morning Report, there would be some relief at the pump in the next couple of weeks and that relief would start to be seen on some gasoline products over the weekend.

Diesel would be a different story however, Parham said, and he expected it would take some time for prices to unwind – but he believed it would not get to $4 a litre.

“I think we’ll skim just under that.”

RNZ went out to speak to drivers at petrol stations on Wednesday, about diesel becoming the most expensive fuel at the pump as it overtakes 98.

According to fuel finding app Gaspy, 260 stations in the motu were charging diesel at $3.99 a litre, with some truck stops in the Bay of Plenty and Waikato hitting $4.20 a litre.

Motorists said that commuters and individuals could switch to petrol cars, public transport or working from home.

But commercial trucking fleets do not have that flexibility.

One contractor told RNZ business owners had no choice but to absorb higher diesel costs in contracts agreed months ago before the fuel crisis.

Another business owner said companies would have to decide whether to pass on the higher cost of diesel to their customers in any new contracts.

A civil construction company owner said: “We’re definitely feeling the pinch. We’re trying to wear the cost as much as possible. But we are looking at price increases”

They said that could cause ripple effects across all industries from construction to agriculture.

One builder told RNZ: “All our suppliers are charging extra on deliveries now.”

Parham said purchases of fuel had softened as prices rose, after a couple of weeks of panic buying.

He said demand was down about 10 percent.

“There’s definitely been a change in behaviours. We’re more keen than anybody to get these prices back down.”

Gaspy spokesperson Mike Newton said dependence on overseas refineries and the lack of alternatives to diesel would likely keep prices high for a while.

Fuel prices in general rose following the outbreak of war in the Middle East and the closure of the Strait of Hormuz, a major oil shipping route.

US President Donald Trump announced a two-week ceasefire on Wednesday which led to crude oil prices dropping.

However, Newton said diesel prices were unlikely to drop because New Zealand had no refining capacity and would have to wait for supplies from overseas.

Newton said diesel prices had risen sharply and it was not clear why.

“It’s been creeping up five cents a day sort of thing, but we’ve seen jumps of 30, 40, 50 cents. At some stations just out of nowhere, and it’s not clear to us exactly what is causing such a big jump so suddenly.”

He said the fuel crisis was worse than the price spike that followed Russia’s invasion of Ukraine, which drove up diesel prices by about 50 percent.

“Currently, we have already doubled the price of diesel, so it’s over 100 percent increase,” Newton said.

“So although we’re seeing similar patterns, the numbers are just so much bigger than what we saw during the Ukraine conflict.”

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Source: Radio New Zealand

Motorists using diesel say they have little choice but to wear higher costs as prices reach more than $4 a litre in parts of the country.

RNZ went out to speak to drivers at petrol stations about diesel becoming the most expensive fuel at the pump as it overtakes 98.

According to fuel finding app Gaspy, 260 stations in the motu were charging diesel at $3.99 a litre, with some truck stops in the Bay of Plenty and Waikato hitting $4.20 a litre.

Motorists said that commuters and individuals could switch to petrol cars, public transport or working from home.

But commercial trucking fleets do not have that flexibility.

One contractor told RNZ business owners had no choice but to absorb higher diesel costs in contracts agreed months ago before the fuel crisis.

Another business owner said companies would have to decide whether to pass on the higher cost of diesel to their customers in any new contracts.

A civil construction company owner said: “We’re definitely feeling the pinch. We’re trying to wear the cost as much as possible. But we are looking at price increases”

They said that could cause ripple effects across all industries from construction to agriculture.

One builder told RNZ: “All our suppliers are charging extra on deliveries now.”

Gaspy spokesperson Mike Newton said dependence on overseas refineries and the lack of alternatives to diesel would likely keep prices high for a while.

Fuel prices in general rose following the outbreak of war in the Middle East and the closure of the Strait of Hormuz, a major oil shipping route.

US President Donald Trump announced a two-week ceasefire on Wednesday which led to crude oil prices dropping.

However, Newton said diesel prices were unlikely to drop because New Zealand had no refining capacity and would have to wait for supplies from overseas.

Newton said diesel prices had risen sharply and it was not clear why.

“It’s been creeping up five cents a day sort of thing, but we’ve seen jumps of 30, 40, 50 cents. At some stations just out of nowhere, and it’s not clear to us exactly what is causing such a big jump so suddenly.”

He said the fuel crisis was worse than the price spike that followed Russia’s invasion of Ukraine, which drove up diesel prices by about 50 percent.

“Currently, we have already doubled the price of diesel, so it’s over 100 percent increase,” Newton said.

“So although we’re seeing similar patterns, the numbers are just so much bigger than what we saw during the Ukraine conflict.”

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Source: Radio New Zealand

Solar advocates, electricians and consumer campaigners are among those calling on the government to ditch its plans for an LNG import terminal and consider other options.

The Sustainable Energy Association and six other organisations, including the Green Building Council, Master Electricians, and Consumer NZ, have joined together to present an alternative proposal to deal with the country’s winter energy problem.

The new Smart Energy Alliance says that includes rapidly rolling out rooftop solar, moving domestic users off gas, and better managing the country’s hydro lakes.

The government announced in February it would proceed with plans to build a liquefied natural gas (LNG) import facility in Taranaki, with whole-of-life costs spread across all electricity users through a levy.

The proposal, widely criticised at the time, has attracted renewed opposition after Iran’s closure of the Strait of Hormuz prompted the price of fossil fuels – including LNG – to spike.

Gentailer chief executives were the latest to express doubts at the energy sector’s conference last week.

The Ministry of Business, Innovation and Employment (MBIE) said in a statement last month that the LNG terminal was selected from a shortlist of five options that it considered “timely, feasible and of sufficient scale to meet dry year needs”.

It would also be beneficial to major industrial gas users, who had been forced to limit production or shut up shop altogether in recent years as domestic gas supply dwindled, the ministry said.

It said rooftop solar would support energy resilience in the longer term, but ruled it out as an immediate solution to the dry-year risk.

A Cabinet paper said distributed solar would not supply enough additional energy during winter, when the country was most likely to experience an energy shortage.

The options the ministry seriously considered – including more diesel and coal generation – were all capable of generating 1.5 terawatt hours of generation, no matter the weather, and could be deployed with a few years.

Smart Energy Alliance spokesperson Gareth Williams said the organisation did not accept the argument that solar was incapable of supporting the dry-year risk.

“It’s correct that solar isn’t the greatest resource in winter, but the modelling that we’ve done… shows that solar is really useful in terms of dry-year because it enables the [hydro] lakes to go into autumn and winter much fuller than they do currently,” he said.

“It was a very bold statement that it’s not relevant.”

What the country really needed was for politicians to agree on a cross-party energy strategy that properly weighed up all the options, Williams said.

“This constant change as to what we’re looking to do through every election cycle is just not going to lead to a good outcome.”

However, distributed rooftop solar was among the obvious solutions that should be rolled out straight away, he said.

Countries as diverse as Australia, Hungary and Pakistan have achieved massive uptake of rooftop solar and battery installations within a few years of rolling out government incentives.

A truly meaningful roll-out here would also need financial incentives.

“[Low-cost] financing by itself has some impact but the real acceleration comes when there’s some kind of rebate,” he said.

“Once it’s moving it has its own momentum and you don’t need [incentives] anymore.”

While solar capacity was built up, coal – which was already in the country – was capable of filling the gap that LNG would otherwise close.

“There is sufficient back-up from the Huntly power station using coal,” Williams said.

“Clearly we don’t want that to be the long-term solution… but as a temporary stop-gap for the next three or four years until those other projects can be accelerated, then we’re perfectly covered.”

Incentives could be particularly targeted at domestic gas users – which would have the additional benefit of saving limited gas supply for major industrial users who had limited alternatives, he said.

“The modelling we did looked for that 2TWh of additional generation, and we modelled it by reducing the amount of gas that was being used for electricity generation down to 45 percent of what it has been over the last three years.”

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