WEL Welcomes Government’s Energy Security Improvement Plan

WEL Networks welcomes the Coalition Government’s announcement outlining steps to improve New Zealand’s energy security and affordability, especially through the easing of restrictions on electricity lines companies owning generation.

As a community organisation with a vision to create and support an innovative and sustainable energy future, WEL has already been leading the way to help address energy security and affordability challenges for its customers.

WEL commissioned Rotohiko - New Zealand’s largest battery energy storage system - last year and is about to construct two Waikato solar farms. But as an Electricity Distribution Business there’s currently a 50MW cap on ownership of generation that has restricted WEL’s ability to build bigger, at pace, and introduce much-needed competition into the electricity market to help bring down the cost of energy.

WEL echoes Energy Minister Hon Simeon Brown’s remarks that New Zealand needs an energy system that is secure, reliable and affordable and WEL can play an even greater role in achieving this, with a change in the current regulatory settings that it feels are too restrictive.

Given the rate of Aotearoa’s current and forecasted energy needs, WEL also agrees with Prime Minister Christopher Luxon’s comment that New Zealand needs to double the amount of renewable electricity in the country.

WEL has ambitious plans to contribute more effectively to improving energy security and bringing down energy costs for the benefit of its customers, and all New Zealanders. The company looks forward to the details of the regulatory changes being confirmed by Cabinet later this year.