Prices

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The prices section presents New Zealand’s energy prices, with all prices presented in New Zealand dollars. Prices are presented in units typical for each fuel (such as cents/litre for petrol and diesel or cents/kWh for electricity) and are displayed on a calendar year basis in both real (adjusted for inflation) and nominal terms for all available years. Prices are presented inclusive of all applicable taxes and levies. Industrial and commercial prices exclude Goods and Services Tax (GST) as these sectors can generally reclaim the GST component. Wholesale prices are assumed to relate to the commercial sector so exclude GST. Residential customers generally cannot reclaim GST therefore residential prices include the GST component.

To aid price comparison between fuels, prices are also presented by energy content in dollars per gigajoule (GJ). However, direct inter-fuel comparisons on this basis do not allow for differences in end-use efficiency, which can vary between fuel and application. For this reason care should be taken when comparing prices on an energy content basis.

Although fuel prices are now market driven, historically many were under some form of price control. The wholesale prices of diesel and petrol were controlled until July 1987 and May 1988 respectively. Gas prices were under price control until 1993. Before electricity sector reforms, which began in the late 1980s, electricity prices were influenced by the need for government approval of wholesale prices. For more information see the latter parts of section ‘D. Oil and Gas’ of Energy in New Zealand

Figure 1: Petrol and Diesel Prices (Real 2014)

[image] Figure 1: Petrol and diesel prices (Real 2014)

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Electricity cost and price monitoring

The Ministry uses sales-based data to monitor average residential, commercial and industrial electricity costs (essentially total electricity sales divided by the quantity of electricity supplied). The latest data can be found in the Prices data table.

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