Electricity prices, especially for households, have increased faster than inflation for many years, putting pressure on household budgets. In comparison, prices faced by commercial and industrial customers have remained relatively flat. The Government has commissioned this review to investigate whether the electricity market, as it exists at present, is delivering a fair and equitable price to end-consumers.
The review will consider whether the current electricity market and its governance structures will continue to be appropriate with rapidly changing technology and new innovations in the sector. As energy production and consumption is such an integral part to New Zealand’s economy, this review will be of great interest to the industry and the public.
The Minister of Energy and Resources has appointed an expert panel of advisors who will provide peer and technical advice for the review. The advisory panel has an independent chair who will report to the Minister of Energy and Resources.
The review will be structured into stages, with the initial stage focusing on determining facts and building evidence. The scope of further stages will be developed after findings emerge from the first stage.