Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Positive trends in latest energy data

Positive trends in latest energy data


New Zealand’s demand for energy is increasing at a lower rate than the economy is growing, according to the latest New Zealand Energy Quarterly published today by the Ministry of Business, Innovation and Employment (MBIE).

Overall energy demand increased by 0.9 per cent during the year to December 2013, which included a 3.9 per cent increase in demand for diesel and a 2 per cent drop in electricity demand. This compares with an increase in gross domestic product (GDP) of 2.6 per cent for the year to September 2013 (latest available figure), and suggests that New Zealand is becoming more energy efficient.

“We are producing more GDP for every unit of energy we use as a country,” says Bryan Field, MBIE’s Manager of Modelling and Sector Trends.

The role of renewables in electricity generation increased to 75.1 per cent in 2013, up from 72.7 per cent the previous year. The increase reflected new geothermal generation plants Ngatamariki (82MW) and Te Mihi (166 MW, which is not yet at full production), as well as the mothballing of the second 250MW coal and gas fired unit at Huntly power station.

These changes also delivered a reduction of 15 per cent in greenhouse gas emissions from electricity for the year. For the December quarter, these emissions were the lowest in 17 years.

The Quarterly Survey of Domestic Electricity Prices, which MBIE also published today, shows residential electricity prices increased 2.9 per cent in 2013.

This reflected a 2.2 per cent increase in distribution and transmission charges (which translates to a 0.9 per cent increase in the retail price), and a 3.4 per cent increase in energy and retail charges, (which translates to a 2 per cent increase in the retail price).


[ends]

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Policy Statement: Spending Wins Over Tax Cuts; Big Ticket Items Get Boost

Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More>>

ALSO:

Fishy: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news