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Responsibly realising NZ’s energy potential

Responsibly realising NZ’s energy potential

National will continue to support the responsible development of our energy potential to create high-paying jobs, raise living standards, and build a more productive economy for all New Zealanders, Energy and Resources Spokesman Simon Bridges said today.

“New Zealand’s resources sector already contributes significantly to our economy —it employs more than 7000 people, and contributes around $800 million in taxes and royalties each year. Oil is our fourth-largest export earner at $1.7 billion in 2013.

“National believes we can realise the economic benefits of further resource development, while also maintaining the highest possible environmental and safety standards.

“We are investing $8 million over four years in a range of new data acquisition projects, such as aeromagnetic surveys and petroleum basin analysis, to provide better geological information for investors interested in exploring for oil and gas in New Zealand.

“We have significantly strengthened New Zealand’s regulatory regime to ensure our environmental and health and safety standards are at world’s best practice.

“In electricity, National’s sensible reforms have resulted in more competition and greater innovation, while ensuring that the lights stay on.

“Since 2008, electricity price increases have more than halved. And renewable generation is at 75 per cent – up from 65 per cent in 2008 – which ranks us among the top five in the OECD.

“We have encouraged business productivity and carbon reduction through energy efficiency initiatives in transport and industrial heat.

“And over 260,000 Kiwi homes are warmer, drier and easier to heat due to our Warm Up New Zealand home insulation programmes.”

If re-elected National will:

• Continue to develop our natural resources in a safe and environmentally responsible way.
• Ensure high levels of competition among electricity retailers and further transparency in the electricity market.

• Continue to make homes warmer, drier and healthier.
• Promote and develop projects to encourage energy efficiency and carbon reduction.
• Continue to pursue our target of 90 per cent renewable electricity generation by 2025.

“National will continue its balanced and responsible approach to realising New Zealand’s energy potential while adhering to the strong environmental and safety provisions we have developed during our term in office,” Mr Bridges says.

National’s Energy and Resources Policy is available at: http://ntnl.org.nz/1q1CE6g

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