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Survey shows resilience key to our energy future

Survey shows resilience key to our energy future

The newly released World Energy Issues Monitor, the World Energy Council’s annual survey for New Zealand, shows the issues keeping New Zealand energy executives awake at night reflect rapidly changing energy needs and the challenge of achieving a more resilient energy system.

The Hon David Caygill, Chair of the BusinessNZ Energy Council, says, “The uncertainties surrounding the climate framework and market design have this year been joined by innovative transport and electric storage. Smart grids, extreme weather risks and the energy-water nexus complete the complement of high-concern and high impact issues. Concerns about energy prices and affordability have matured into an issue, alongside the perennials of energy efficiency and renewable energies.

“New Zealand energy executives seem to believe that a future of new innovative market, technological and regulatory models, combined with a future of renewable energies will define the future of our energy sector.

“The map sends a clear signal to both business leaders and policy-makers to keep up with unfolding technological developments and the rise of the pro-sumer in order to allow new business models to emerge, compete, and deliver competitive prices.

“One thing is clear, energy resilience – the challenges it creates and the new and innovative policy, finance, and consumer responses to achieve it – are weighing on the minds of New Zealand energy executives.

“This finding reinforces the recently released BEC2050 Energy Scenarios where the NZ energy sector came together to map out two plausible futures for the energy sector. The report showed that transformative change is possible, but that policy and investment choices and trade-offs will be needed along the way. The choices and trade-offs being made today will have significant implications for the energy system of the future.”

Resilience is the theme of the Asia-Pacific Energy Leaders’ Summit taking place at the InterContinental Hotel in Wellington this Wednesday and Thursday, with delegates from over 18 countries. This is the first time energy leaders, top-level business executives, policymakers and thought leaders from around the world have been brought together to tackle this growing global concern.

More about the Asia-Pacific Energy Leaders’ Summit here.

More about the BEC 2050 energy scenarios here.

World Energy Issues Monitor Full Report.

ENDS

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