Our strategy and priorities

Our strategic outcomes

We want to achieve a secure and resilient, efficient and affordable energy system that protects domestic and small business consumers and improves long-term outcomes for all consumers and New Zealand.

By carrying out our regulatory functions, engaging and collaborating to build trust and confidence in the electricity system and in the Electricity Authority, we anticipate improved long-term outcomes for consumers.

This means we are focused on achieving an electricity system that is:

• Secure and resilient – Consumers have trust and confidence in their energy supply. It’s reliable, secure and responsive to shocks.
• Efficient – Consumers can access an electricity system with a mix of renewable generation, storage and technologies that best fits their needs.
• Affordable – Consumers have simple, stable options to access to affordable electricity. They can choose their electricity supplier(s) from a competitive and efficient market.

Our priorities

New Zealand has committed to transition to net zero greenhouse gas emissions by 2050. Electricity has a key role to play in achieving this climate ambition. Aotearoa will require large quantities of new renewable electricity generation, increased use of distributed energy resources, new ways to participate and more participants.

As Aotearoa’s electricity regulator, the Electricity Authority acts as a kaitiaki of the electricity system. It's our priority to ensure that the low-emissions transition is as efficient as possible while maintaining energy security, system adaptability, and affordability for all New Zealanders. Our priorities are:

Secure and resilient

• Effective risk management: market participants have access to the tools they need to efficiently manage their risks and to provide signals to guide longer term decisions, such as investment in electricity generation.
• Regional resilience: regions and communities have a reliable energy supply even when there are disruptions eg, from natural disasters, cyberattacks or other unforeseen circumstances.

Efficient

• Consumer care and affordability: electricity customers receive the care and protection they need and have access to affordable energy.
• Accurate and efficient pricing: is crucial for the efficient reward of market participation and allocation of scarce resources.

Affordable

• Innovation and distributed energy: new initiatives and technologies are supported which can lead to improved competition, reliability, and affordability.
• Effective competition: delivers reliable electricity to consumers at the lowest possible cost.