New Zealand is the only non-EU country to consistently rank in the global top 10 for balancing sustainability, affordability, and security in energy.
In a new evolution of the index, historic trends in each dimension are now compared to a baseline year - 2000 - to give a more in-depth picture of national policies.
New Zealand, ranked 10th this year, continues to show stable growth in energy sustainability. This is driven by a growing proportion of generation from renewables, as well as managed emissions in the context of economic and population growth.
Numerous independent studies have shown New Zealand's renewable electricity is a key advantage in driving emissions reduction through electrification of transport and process heat. This leaves us well-positioned for transitioning to a low carbon future.
Business Energy Council Chair Hon David Caygill says recent fluctuations in the security dimensions represent a minor reduction in fossil fuel stocks and the slight upturn in import dependence since the late 2000s.
Equity remains stable and managed in a context of social change. Balanced policies for energy transition are represented in New Zealand's overall balance grade of AAA.
Mr. Caygill says, "we are currently developing a national 'deep dive' of the Energy Trilemma which we hope will provide the framework for the Government's recently announced five-yearly assessment of balanced energy policies."
With the drive to transition our economy to a low emissions future, this framework will be able to highlight areas that need attention.
"When combined with the soon to be released BEC2060 energy scenarios we will have a rich source of information to will help us shape and guide the policy and investment choices and trade-offs we make," Mr. Caygill says.