The Authority plays a critical role for all New Zealanders. The industry we steward provides an essential service. Electricity is a foundation for modern life, wellbeing and the economy.

Climate change, new economic drivers, consumer behaviours and external expectations have all shifted the way in which energy system development is considered. Impacts of COVID-19 also continue to affect our lives.

Resetting our strategy is an important step in this journey – giving the Authority the necessary foundation to meet new expectations and achieve better outcomes for New Zealand.

Our purpose

Our primary function remains to regulate New Zealand’s electricity system and markets, actively monitoring behaviour, enforcing the rules and holding industry participants to account.

However, we recognise that as the regulator, our work also provides a platform for the country to achieve its aspirations for enhanced quality of life, prosperity and environment.

We take our responsibility very seriously.

Five key sector ambitions now focus us, and five key strategic capabilities underpin success. This ensures delivery against our statutory objective creates a platform for economic recovery, growth and wider long-term benefit for New Zealand.

Our strategic framework (click here to enlarge)

We want consumer centricity to guide regulation and the industry

Consumer centricity

When decision making is centred around consumer outcomes, more diverse needs can be met. We will put consumers – whether they be individuals, households, communities, small, medium or large businesses or industrial consumers – and our understanding of their varied perspectives front and centre of what we do and how we do it.

Priority actions we will take

  • Provide clarity on consumers’ needs and the impact our decision making has on those needs being met
  • Increase the participation of and engagement with consumers in our decision-making processes

We want low-emissions energy to electrify the economy

Low-emissions energy

Electrification is a key enabler in the transition to a low-emissions economy. We need to promote a stable investment environment with robust rules and clear price signals to unlock the potential for more renewable generation and ensure the transition is as efficient as possible.

Priority actions we will take

  • Ensure electricity market settings and conditions support an efficient transition to low-emissions energy, through competition, whilst maintaining reliability
  • Implement price signals that facilitate lowest overall cost to consumers, including through investment in and operation of energy technology and demand-side flexibility

We want to build trust and confidence in the industry for all stakeholders

Trust and confidence

As regulator, we need to continue using markets and our compliance function to create the right incentives for progress. We want participants to have regulatory confidence, stakeholders to trust in the system’s performance, to see better practice across industry and for consumers to feel empowered to act.

Priority actions we will take

  • Increase our industry leadership and build trust and confidence in how we are taking up our kaitiaki role
  • Increase active monitoring and reporting on the operation of the sector to improve conduct and compliance
  • Monitor and enhance the operational efficiency and reliability of the electricity industry on an on-going basis
  • Increase knowledge gained by consumers and more broadly about New Zealand’s electricity sector and the energy trilemma trade-offs

We want to see thriving competition delivering better outcomes for New Zealanders

Thriving competition

Market competition is a key enabler to deliver a better energy future. We’re committed to encouraging participation and reinforcing competition in traditional and emerging markets by putting in place the mechanisms needed to maintain a level playing field.

Priority actions we will take

  • Identify and remove inefficient barriers to new entrants entering and competing with established participants, especially in the wholesale market
  • Ensure that networks are open and that regulatory and market settings enable the full potential of distributed energy resources (DERs) to be realised for all New Zealand electricity consumers

We want to see innovation flourishing

Innovation flourishing

Evolution of the electricity system will be achieved through innovation and disruption, with participants and the Authority thinking beyond the status quo. Our role is to help unlock the full benefits of innovation for consumers by making sure the settings are conducive to innovation and industry success.

Priority actions we will take

  • Increase the availability and transparency of industry data
  • Increase the ability of the regulatory system to accommodate new business models

Learn more

Cover page of the Statement of Intent 2020-2024

More information about our new strategy and the work we’re doing to support these ambitions is available in our 2020–2024 Statement of Intent.

Our strategy has been informed by a range of internal workshops with our staff and Board, and external engagement with stakeholders, industry, and consumers.

Statement of Intent 2020-2024

Last updated: 12 October 2020

Strategy development - Final strategy discussion paper

Last updated: 12 October 2020

  • Strategy development

    Published: 07/02/2020 12:00am

    The Authority is resetting its strategy to respond to the ongoing and rapid changes in the electricity sector. Read More