Gas Transition Loan Guarantee Scheme launches today

The Scheme, announced by Ministers as part of Budget 2026, supports loans to businesses to fund capital investments for transitioning away from natural gas or reducing natural gas consumption. The Scheme can support up to $1.2 billion in new lending in total.

With the Crown assuming up to 80 per cent of the default risk of Scheme loans, participating banks are encouraged to pass on lower interest rates to businesses, provide financing with longer repayment periods and offer more favourable principal repayment terms.

Participating banks include ANZ, ASB, BNZ, Kiwibank and Westpac.

If your business is interested in accessing a Scheme supported loan, your first step is to express interest with one of the banks listed above, and they will work with you to determine eligibility.

The Energy Efficiency and Conservation Authority (EECA) is providing direct support for commercial and industrial businesses interested in making the switch. Visit the EECA website to access advisory support, ranging from practical tools and guidance to assistance developing a credible investment or business case:

Gas support(external link) — Energy Efficiency and Conservation Authority