NZ electricity market well-placed to drive innovation and efficiency

Energy and Resources Minister Simon Bridges says it’s encouraging an experts’ electricity forum has endorsed the Government’s market-led approach to regulating the electricity sector.

The Smart Grid Forum, which was established last year to help advance smart electricity development in New Zealand, has released its first year-end report today.

Amongst its key findings is that New Zealand is well-positioned to adapt to new, smart technology that will help benefit consumers.

“The Forum’s report provides some useful insights into the future development of smart grid technologies. It’s great to see we share the same vision of capturing the benefits of technological advances in this space,” Mr Bridges says.

“There is no doubt that in the future our electricity system will look very different to the way it looks today.  New technology is already giving consumers greater choices to meet their energy needs and use energy more efficiently.”

While the Forum found no reason to change how the market is regulated, it recommends measures to help consumers understand and compare new technologies, and also a way to monitor and report on the risks of transitioning to a smarter grid.

“Together with both the Energy Efficiency and Conservation Authority and the Electricity Authority, the Government will look at advancing these ideas.

“I have now asked the Forum to continue its work for at least another year, and have sought their views on two particular issues.  Firstly, how New Zealand is progressing relative to other countries and what can be done to accelerate such developments here to benefit our consumers.  Secondly, I have asked how smart grid developments might help New Zealand meet its emissions reduction targets.

“The Government is committed to the responsible and savvy use of resources and technology to secure our energy future and empower consumers.”

Read the Smart Grid Forum Report here.