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I am delighted to be addressing you as Energy Minister as I understand just how vital this portfolio – including your part in it – is to our New Zealand way of life.

Electricity is fundamental to our well being and necessary to our economic success. As trustees of distribution companies you are the stewards of this important sector.

For many decades the electricity industry was largely stable and secure with little change. 

It’s a pleasure to welcome you all to New Plymouth in the Taranaki province, the heart of oil and gas production in New Zealand.

Although I’m relatively new as Energy and Resources Minister, I’m very enthusiastic about the future of this dynamic and extremely productive industry.

I’d particularly like to acknowledge PEPANZ for organising the conference, and our international guests for showing their interest this year. I hope you enjoy your time in New Zealand.

Industry downturn

Good morning and welcome everyone. Thank you for inviting me to your Downstream 2017 conference.

Having an affordable and secure supply of energy underpins everything we do- from the economic viability of our businesses, to the well-being of our households, to our individual quality of life.

At the same time, it is striking, coming into this industry, to see the amount and the rate of change you are experiencing now, and are likely to experience in the coming years.

Technological and consumer changes