PWC, September 2026
Provides an independent, evidence-based review of the implications and considerations of separating generation and retail activities in New Zealand's electricity market. Concludes that targeted measures show stronger evidence of delivering better outcomes across the Energy Trilemma than more intrusive forms of separation.
Summary Report
The Lantau Group, July 2026
Reviews the Government’s proposed Winter Energy Reliability Obligation which would require large wholesale purchasers to secure long-duration firm energy against dry-year risk. It supports the objective of better dry-year security but concludes the mechanism is premature and not well justified.
Concept Consulting, July 2026
Tests the diagnosis and prescriptions in the Government’s consultation on a proposed dry-year reliability obligation. Concludes that the case for the obligation hasn't been made out, arguing the administrative regime would likely worsen market outcomes.
Boston Consulting Group, November 2025
Examines how New Zealand can secure affordable, reliable and sustainable energy while supporting economic growth. It recommends faster renewable development, stronger electricity and gas markets, improved networks, reliable backup fuels, and support for industrial transition.
Independent Expert Panel, May 2025
Examines the Energy Competition Task Force’s proposed “level playing field” measures for electricity hedging. It assesses claims that generator-retailers disadvantage independent retailers, reviews the supporting evidence and market design, and considers whether regulatory intervention is justified.
Sapere, February 2025
Examines the key priorities for the New Zealand electricity industry. Identifies four key areas needing attention and concludes that progress depends on stable policy frameworks, market design expertise and regulatory capability.
Boston Consulting Group, October 2022
Outlines a pathway to net zero through rapid renewable generation, electrification, storage and network investment, while identifying the policy, market and regulatory reforms needed to maintain affordability and security.
Cognitus Economic Insight, October 2021
Reviews economic research on vertically integrated electricity businesses compared with separating generation and retail. It concludes integration generally improves risk management, investment and consumer outcomes, while acknowledging potential anticompetitive conduct and the need for balanced policy.