Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

ICCC report confirms importance of natural gas

ICCC report confirms importance of natural gas

Source: PEPANZ

--

The importance of natural gas in keeping power prices down and reducing emissions has been confirmed by the Government’s Interim Climate Change Committee (ICCC), says the Petroleum Exploration and Production Association of New Zealand (PEPANZ).

"The ICCC’s report concludes that moving away from natural gas and to 100% renewable electricity would be enormously costly to New Zealand households and for little environmental gain," says PEPANZ CEO Cameron Madgwick.

"Natural gas supports and enables renewable energy by keeping electricity prices much lower than would otherwise be the case. This is especially important when demand is high and other sources can’t keep up.

"A 100% target could see a 14% increase in retail electricity prices for households, 29% for commercial and 39% for industrial users.

"The report warns that ‘increased retail electricity prices will disproportionately impact low-income households, including Māori and Pasifika households.’

"Natural gas can also help lower emissions by encouraging industrial users to switch away from coal to electricity - a win-win outcome.

"We strongly support the focus on lowering New Zealand’s emissions in the least painful way to New Zealanders, and clearly natural gas needs to be a part of the solution."

ENDS


Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.