The Government’s opting to provide capital to Crown-controlled power companies instead of reshaping its role in the energy sector.
Genesis, Mercury, and Meridian have been assured funding is available for major infrastructure projects.
A procurement process for a Liquefied Natural Gas facility has also been launched, which Energy Minister Simon Watts says will start on Monday.
He told Mike Hosking Cabinet will aim to make a decision by Christmas to get supply into the country as soon as possible.
Watts says their shortest timeline has supply arriving by Winter of 2027, but if a more traditional route is used, it’s more likely to come by 2028 or 2029.
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The Mike Hosking Breakfast