Fonterra warns of rising electricity prices and gas market uncertainties affecting NZ export competitiveness.

New Zealand's dairy giant, Fonterra, warns of rising wholesale electricity prices and gas market uncertainties negatively impacting the country's export competitiveness. Wholesale power prices have doubled, with hydro lake storage levels being lower than normal. Fonterra's COO emphasizes the need for long-term solutions to keep energy costs manageable for businesses. The government is considering importing liquefied natural gas to address the energy shortage, despite criticism for not investing more in renewable energy sources.

August 11, 2024
3 Articles