“Labour’s oil and gas ban wasn’t environmental policy, it was a publicity stunt. ACT welcomes today’s announcement from the ACT-National coalition agreement to repeal the ban on offshore exploration,” says ACT’s Energy and Resources spokesperson Simon Court.

“A high-wage economy depends on affordable and reliable energy.

“Under the last Government, almost 8 percent of households could not afford to keep their houses warm. The Electricity Networks Association has forecast households will be paying twice as much for electricity in five years. In other words, Labour’s “nuclear-free moment” cost Kiwis big time.

“Kiwis need a cost effective and reliable way to keep lights and heaters running on a cold and still night in winter, when the wind is light and the dams are low.

“Last year, New Zealand’s natural gas reserves dropped below 10 years’ supply for the first time since the 1970s. Reversing the ban will lead to increased access to natural gases, more energy security for New Zealanders and less reliance on importing other energy sources amid volatile international markets.

“Taking full advantage of the resources at our disposal will allow us to get electricity prices under control, ease the cost-of-living crisis for the families who are struggling most, and grow the economy with international investment.”

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