Why energy storage is critical to our future

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Why is a country with an enormous renewable energy potential like ours now facing an electricity and energy shortage?

This should be extremely alarming, whether your priority is affordable household energy, jobs and tax revenues or climate change mitigation.

Spiralling wholesale electricity prices in the past two years have put New Zealand in the unenviable position of having the highest power prices in the developed world. This is hugely damaging to our industry, jobs, exports and climate goals. It’s also about to hit household budgets.

The unsustainable increases have driven the Government to scrutinise the electricity market and potential for competition regulation. The key drivers for our current predicament are relatively well-known.

We have four big generation retailers (gentailers) operating, effectively, as an oligopoly. There’s a natural temptation for them to keep out rivals, price for over-demand, and use generation revenues…

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