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For the 2026 New Zealand general election: What would the parties change about electricity prices, fuel costs and the security of energy supply?
New Zealand election 2026: electricity prices, fuel costs and energy security
Election day: 7 November 2026 · National overview
The main parties broadly agree that New Zealand needs more affordable electricity and a more reliable energy supply. Their biggest differences are how to lower power bills, whether to break up the big electricity companies, and how much New Zealand should rely on domestic oil and gas versus renewable energy. Power Prices for 2026The main parties vying to form New Zealand's next government
Here's a comparison of the major parties' published proposals and what they could mean for households, motorists and businesses.
At a glance
| Party | Electricity prices | Petrol and diesel costs | Energy security |
|---|---|---|---|
| National | More generation, competition and lower network costs | No fuel-tax increase in 2027; increases resume in 2028 under the announced schedule | Domestic oil and gas exploration, plus imported LNG as backup |
| Labour | Household solar support, stronger price-gouging laws | Freeze fuel excise tax for three years; crack down on excessive fuel pricing | More household renewables; restore the ban on new oil and gas exploration |
| Green Party | Publicly owned Kiwipower, solar and batteries | Less reliance on fossil fuels; no equivalent fuel-price guarantee identified in the sources reviewed | Renewable generation, storage and public investment |
| ACT | More private investment and competition; oppose breaking up major power companies | No specific pump-price reduction commitment identified in the sources reviewed | More generation and infrastructure, with domestic gas available |
| New Zealand First | Split major electricity generators from their retail businesses | Develop domestic energy resources to reduce dependence on imported fuel | A $1 billion subsurface survey programme and greater use of domestic resources |
Sources: published party policies and election announcements. These are proposals or announced commitments, not guaranteed price outcomes. Affordable power Kiwis can rely onLabour's Cost of Living PlanGreen Party launches plan to cut power bills and take power back from the big energy companiesACT New Zealand"Power to the People" - Winston Peters - State of the Nation 2026Future Proofing our Fuel SecurityGovernment cancels fuel tax hike
1. Electricity prices and power bills
National — build more power and reduce costs
National's proposed Electrify NZ 2.0 plan aims to make new generation and grid infrastructure easier to build, improve competition and address rising electricity network charges.
Its proposals include:
- Reviewing the rules governing electricity lines charges.
- Making it easier to connect new homes, businesses and renewable generators to the network.
- Improving independent retailers' access to backup electricity supply.
- Requiring AI data centres to bring their own power rather than add costs for other consumers.
National also backs an LNG import facility and domestic gas exploration to help the electricity system cope when hydro lakes are low. Affordable power Kiwis can rely onPower Prices for 2026
Labour — household solar and stronger consumer protection
Labour's SolarSaver programme would provide government-backed, low-interest finance for rooftop solar and batteries, with additional support of up to $3,000 for eligible households.
It also proposes:
- Making excessive electricity pricing illegal and requiring companies found to have overcharged customers to repay them.
- Extending solar options to renters through plug-in systems.
- Helping households reduce the amount of electricity they buy from the grid.
Labour estimates that SolarSaver could save an average household around $1,000 annually, although actual savings would depend on the household and its energy use. Labour's Cost of Living PlanLabour's Cost of Living Plan
Green Party — create a publicly owned power company
The Greens propose establishing Kiwipower, a state-owned electricity company intended to invest in affordable renewable generation and provide backup capacity during dry years.
Their broader plan includes:
- Zero-interest loans for household solar panels and batteries.
- Support for community-owned renewable electricity projects.
- Home insulation and measures to help households use less energy.
- Changes to the electricity market to tackle the influence of large generator-retailers.
The central idea is that public investment should help deliver affordable electricity while reducing reliance on fossil fuels. Green Party launches plan to cut power bills and take power back from the big energy companiesPower Prices for 2026
ACT — increase competition and private investment
ACT wants to make it easier for private businesses to build power stations, invest in transmission and compete to provide electricity connections.
Its published proposals include allowing households to sell surplus solar power to whichever retailer offers the best deal, and requiring electricity network companies to justify costly upgrades before passing those costs to consumers.
ACT opposes breaking up the major electricity generator-retailers, arguing that more supply and competition are preferable to restructuring the industry. ACT New ZealandEnergy Policy: Where NZ Parties Stand in 2026
New Zealand First — split the big power companies
New Zealand First proposes separating the generation and retail arms of the major electricity companies.
It also wants long-term, fixed-price contracts for new generation projects, measures to prevent generators withholding electricity to increase prices, and a requirement that household solar exporters receive the same price for electricity sold to the grid as they pay when buying it.
The party argues that these changes would increase competition and encourage investment in new power stations. "Power to the People" - Winston Peters - State of the Nation 2026Power Prices for 2026
What might these proposals mean for your power bill?
The main difference is how parties intend to tackle the problem:
- National and ACT: make it easier for private businesses to build generation and compete.
- Labour: help households produce their own power and strengthen enforcement against excessive prices.
- Greens: use a new publicly owned company to invest in generation and backup supply.
- New Zealand First: restructure the electricity industry to change how generators and retailers compete.
No party can guarantee that retail electricity bills will fall by a particular amount. Generation costs, transmission and distribution charges, retailer pricing and the cost of backup supply all affect what households pay. Affordable power Kiwis can rely onPower Prices for 2026
2. Petrol and diesel costs
Fuel prices are particularly sensitive to international oil prices, exchange rates, refining and shipping costs, as well as domestic taxes. The parties differ in how much they propose to change directly.
National
The Government announced that the planned fuel-excise increase in 2027 would be postponed. Under its revised schedule, the next 5-cent-per-litre increase takes effect on 1 January 2028, with further increases scheduled after that. This is the announced policy if the schedule remains in place, rather than a permanent fuel-tax freeze. Government cancels fuel tax hike
Labour
Labour promises to freeze fuel excise tax for three years and make fuel-company overcharging illegal. It estimates the tax freeze would save an average family around $520 a year by 2030.
That is Labour's estimate of the effect of its tax policy, not a guarantee that the total cost of filling up will fall. Global oil-price increases could still make petrol and diesel more expensive. Release: No increase in fuel taxes under LabourLabour's Cost of Living Plan
Green Party
The Greens' wider approach emphasises renewable energy, lower fossil-fuel dependence and reducing energy use. I did not find a directly comparable, specific commitment to cut petrol prices by a stated amount in the sources reviewed.
ACT
ACT's energy policy focuses on expanding supply and encouraging investment, including domestic oil and gas exploration. I did not find a specific election commitment guaranteeing a reduction in petrol prices or a quantified pump-price saving.
New Zealand First
The party proposes investing $1 billion over the term of a government in a national survey of subsurface energy and mineral resources. It aims to identify domestic oil and gas reserves that could eventually reduce dependence on overseas supplies and bring down local fuel costs.
These are longer-term ambitions: finding commercially recoverable resources would not automatically produce cheaper petrol in the near future. Future Proofing our Fuel Security
3. Security of energy supply: what happens when fuel or electricity runs short?
Energy security means having enough energy available at a price households and businesses can manage, including during droughts, international conflicts or disruptions to imported fuel.
New Zealand has a particular electricity challenge: hydroelectricity is important, but when water levels are low, the country needs other sources of generation or backup supply. Meanwhile, declining domestic gas reserves have increased concern about how the system will cope in future. New Zealand grants first offshore petroleum permit since reversing exploration banRelease: Serious questions remain on LNG facility
National — domestic gas plus imported LNG
National supports renewed oil and gas exploration and a liquefied natural gas (LNG) import facility. The intention is to provide backup when domestic gas is scarce and hydroelectric generation is constrained.
Trade-off: imported gas could provide additional backup, but would expose New Zealand to international gas prices and import-market risks. Labour disputes that the proposed LNG facility is the most cost-effective option. Affordable power Kiwis can rely onRelease: Serious questions remain on LNG facility
Labour — renewables and household generation
Labour says it would restore the ban on new oil and gas exploration while supporting household solar, batteries and stronger consumer protections.
Trade-off: more solar and batteries can reduce grid demand and provide some resilience, but the electricity system still needs sufficient generation and backup during prolonged periods of low renewable output. New Zealand grants first offshore petroleum permit since reversing exploration banLabour's Cost of Living Plan
Green Party — renewable generation and Kiwipower
The Greens propose using public investment to expand renewable electricity, develop backup capacity and address the dry-year problem. They oppose the proposed LNG import facility.
Trade-off: this approach would reduce reliance on imported fossil fuels if enough renewable generation, storage and other dependable capacity were developed. Delivering that capacity requires investment, infrastructure and time. Green Party launches plan to cut power bills and take power back from the big energy companiesPower Prices for 2026
ACT — investment and more generation
ACT favours faster approvals for new energy projects, more private investment in electricity infrastructure and keeping domestic oil and gas exploration available.
Trade-off: this approach relies on investors responding to market opportunities and building enough new capacity to meet demand. ACT New ZealandACT New Zealand
New Zealand First — identify and develop domestic resources
Its proposed $1 billion national subsurface survey would investigate potential energy resources, including oil, gas and geothermal energy. The party wants to develop viable discoveries to strengthen national energy independence.
Trade-off: surveys can identify potential resources, but commercial discoveries, production and any effect on consumer prices could take years and are not guaranteed. Future Proofing our Fuel Security
4. What are the key differences for households?
| If your main concern is… | The policy difference to examine |
|---|---|
| Lowering electricity bills now | Labour's consumer protections and solar support versus National and ACT's competition and network-cost reforms |
| Changing how electricity companies operate | New Zealand First's proposed separation of generation and retail, and the Greens' public-ownership approach |
| Keeping petrol taxes down | Labour's three-year freeze versus National's revised schedule of increases from 2028 |
| Reducing dependence on overseas energy | National and ACT's support for domestic oil and gas development; New Zealand First's resource-survey proposal; Labour and Greens' greater emphasis on renewables |
| Avoiding electricity shortages in dry years | Compare each party's plans for dependable generation, storage and backup, not just its renewable-energy targets |
These distinctions reflect the parties' published positions as of October 2026. Affordable power Kiwis can rely onLabour's Cost of Living Plan"Power to the People" - Winston Peters - State of the Nation 2026Green Party launches plan to cut power bills and take power back from the big energy companiesACT New ZealandFuture Proofing our Fuel Security
One important distinction: a promise to reduce energy costs is not the same as a guaranteed reduction in your bill. The most useful questions are what each party will change, how it will fund those changes, how quickly new supply can be delivered, and who will bear the cost if the plan falls short.
For the complete published policy comparisons, see Policy.nz's 2026 election guide, alongside the individual party announcements linked above.
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