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Outcome 3: Competitive markets with informed consumers and business

A market with appropriate checks and balances increases the confidence of people and businesses to participate freely in the economy. We achieve this by regulating markets, providing critical information to consumers, providing dispute resolution services, and supporting businesses to grow and evolve.

Overview

This report presents comprehensive information on, and analysis of, New Zealand’s energy supply and demand for the 2024 calendar year.

Outcome 2: Skilled people engaged in safe and productive work

Skilled and productive labour and safe workplaces are essential attributes of long-term economic growth. A strong economy also needs the right mix of skills and labour supply to respond to global and domestic opportunities and shifts.

Balance tables

New Zealand’s energy production comes from both renewable and non-renewable sources. The energy balance tables show how energy supply and demand by sector varies by energy type.

Acronyms and glossary

Glossary of terms and acronyms from the annual report.

Oil

New Zealand is a producer of crude oil, with fields concentrated around Taranaki. However, the crude oil produced in New Zealand has historically been almost entirely exported. Since the closure of New Zealand’s only oil refinery at Marsden Point, all domestic petroleum needs are served by imports of refined products such as petrol, diesel, and jet fuel.

Our outcomes

Coal

New Zealand has in-ground coal resources of more than 15 billion tonnes, of which 80% are lignite in the South Island. There are also substantial resources of sub-bituminous coal in both islands, and a lesser amount of high-quality bituminous coal, mainly on the West Coast of the South Island.

Annual reports – Ngā pūrongo ā-tau

The Annual Report is our main reporting mechanism to Parliament, and is usually tabled in late October. The Annual Report outlines our performance compared to the performance targets set in the previous year's Statement of Performance Expectations.

Renewables

Renewable energy is often associated with electricity production, specifically wind, solar, or hydro generation. However, renewable energy is also used for direct heat applications such as milk powder drying, paper making, commercial space heating, or Rotorua’s heated pools.