New Zealand’s industrial gas market is in the grips of crisis and urgent action is needed to remedy the situation and avoid knock-on impacts across a range of economic sectors.
Speaking to the New Zealand Herald, Tina Schirr, from Business New Zealand (NZ)’s Energy Council issued a stark warning as gas supplies have dwindled and prices on average have more than doubled over the past five years.
“About 80% of companies surveyed will come off contracts in the next two years which in turn means the gas situation isn’t going to get any better – there’s simply not enough energy supplied in the market,” she said. “The crisis will be quite confronting over the next year if we don’t do something about it.”
The bulk of responses came from businesses that were involved in manufacturing or food processing, but the survey appeared to show the degree of concern was mixed.
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