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New Zealand Backs Gentailer Investments, Rejects Asset Sales, Starts LNG Terminal Procurement

The move responds to a market review by prioritizing firming capacity with tougher oversight to avoid repeats of last year's dry‑year stress.

Nicola Willis, New Zealand's Finance minister, speaks during an announcement at the parliament, in Wellington, New Zealand, September 24, 2025. REUTERS/Marty Melville/File Photo

Overview

  • The Crown will keep its 51% stakes in Genesis, Mercury and Meridian and will participate in equity raisings for major new generation projects.
  • Procurement for a liquefied natural gas import terminal begins next week with delivery targeted for winter 2027.
  • The government will strengthen the Electricity Authority with higher penalties and expanded information‑gathering and monitoring powers, with legislation expected in Q2 2026.
  • Ministers rejected amalgamating 29 distribution businesses, opting for standardisation and collaboration with milestones set by MBIE and the Electricity Authority.
  • The Commerce Commission is prepared to approve a Huntly coal stockpile to reduce dry‑winter risk, and Transpower will intensify monitoring of energy security.