New Zealand's energy system ranked third most secure in the world
19 June 2016
New Zealand has been ranked third for energy security amongst the top 25 energy users in the world.
The International Index of Energy Security Risk is a United States Chamber of Commerce tool designed to facilitate a better understanding of global energy markets.
New Zealand has consistently ranked in the top five. Ranked alongside the 24 largest energy user countries, which account for about four-fifths of total world energy demand, New Zealand was added to the group to provide some country diversity.
Norway is the most energy secure country in the large user group and has been since 2006. Mexico, NZ, the United States and Denmark complete the top five.
"This consistently high ranking is helped by New Zealand having one of the most diverse power sectors in the large energy user group, and producing all of the natural gas and coal we use. It also highlights the hard won benefits that have accrued to New Zealand from its liberalised energy markets and our stable regulatory settings" says the Hon. David Caygill, Chair of the BusinessNZ Energy Council.
"However, our carbon dioxide emissions trend is worse than the OECD average, as is the amount of energy we use to generate a dollar’s worth of GDP. So there is room for improvement, especially with the impetus provided by the climate change agreement struck in Paris last December.
"Our two BEC2050 energy scenarios - Kayak and Waka - shed light on renewable energy targets, and we look forward to working with the government as it develops its renewable energy targets, including carbon and energy intensity.
"Ensuring that targets are underpinned by a robust narrative about the performance of the economy and its transition to lower carbon emissions will be important to New Zealand retaining its excellent energy security ranking into the future."
The energy security risk report can be found by clicking here.
About the BusinessNZ Energy Council (BEC)
The BusinessNZ Energy Council (BEC) is a group of New Zealand organisations taking on a leading role in creating a sustainable energy future for New Zealand. The BEC is the New Zealand Member Committee of the World Energy Council (WEC). BEC members are automatically members of the WEC. www.bec.org.nz