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For a small New Zealand manufacturing exporter, the 2026 election matters because energy and fuel policy can affect three major business costs:

1. Production costs: electricity, gas and fuel used to manufacture goods.
2. Distribution costs: diesel, road-user charges, freight infrastructure and shipping reliability.
3. Investment and staffing: the cost of upgrading machinery, switching energy sources and recruiting skilled workers.

The parties broadly agree that New Zealand needs more reliable and affordable electricity. Their differences concern how to achieve that, how quickly to move away from fossil fuels and who should pay for the transition.

The following comparison reflects published policies and announcements available as at 1 November 2026. The general election is scheduled for 7 November 2026.

1. Comparing the main parties' energy policies

The focus here is the potential effect on manufacturing businesses, rather than household electricity bills.

Party	Main energy approach	Potential business implications
National	More electricity generation, private investment, domestic gas exploration and imported LNG as backup.	More emphasis on energy security and maintaining gas availability for businesses that depend on it.
Labour	More solar, electrification, consumer protection and electricity market reform. Opposes new oil and gas exploration and the proposed LNG terminal.	Potential opportunities for businesses switching to electricity, but uncertainty for businesses dependent on gas.
ACT	Market-led investment, reduced regulation, more generation and continued access to gas.	Emphasis on private-sector investment and fewer regulatory barriers to energy projects.
Green Party	Publicly owned renewable generation, batteries, electrification and reduced fossil-fuel dependence.	Potential support for renewable energy and electrification investment, alongside a faster transition away from fossil fuels.
NZ First	More domestic oil and gas exploration, a $1 billion resource survey and restructuring the electricity market.	Focus on domestic energy security, industrial competitiveness and reducing fuel costs.
Te Pāti Māori	Community and Māori ownership of renewable generation, energy storage and stronger price regulation.	Potential opportunities for locally owned energy projects and community-based generation.
Opportunity	Major renewable electricity expansion, electricity market reform and business electrification.	Long-term opportunities for manufacturers investing in electric machinery and renewable energy.

Sources: MinterEllisonRuddWatts' October energy policy comparison and published party policies. The politics of power: Comparing energy policies ahead of Election 2026Power Prices for 2026We Want Cheaper Power And We Want Our People To Own It.Gas and the 2026 NZ election: where the parties stand

2. What the policies mean for manufacturing businesses

A. Electricity prices and reliability

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Electricity prices matter when deciding whether to purchase new machinery, increase production or expand factory operations.

The major party differences are:

• National: Wants to increase electricity supply through private investment, renewable generation and gas backup. Its approach includes an LNG import facility to help manage periods when hydroelectric generation is constrained.
• ACT: Supports private-sector investment and removing regulatory barriers to new generation and transmission.
• Labour: Proposes electricity market reform and its $160 million SolarSaver programme, primarily aimed at households and communities.
• Greens: Proposes Kiwipower, a publicly owned electricity company investing in renewable generation and backup capacity.
• NZ First: Wants to separate major electricity generators from their retail businesses, arguing that this would improve competition and pricing.
• Te Pāti Māori: Proposes a $1 billion Energy Sovereignty Fund to increase Māori and community ownership of energy assets.
• Opportunity: Wants 30 GW of electricity generation capacity by 2050, supported by a long-term renewable investment programme.

Power Prices for 2026The politics of power: Comparing energy policies ahead of Election 2026We Want Cheaper Power And We Want Our People To Own It.

What this could mean for your business:

If your factory uses significant electricity, you should consider:

• Whether electricity prices will be predictable enough to justify new machinery.
• Whether the electricity network can accommodate additional factory demand.
• Whether renewable generation, batteries or more efficient equipment could reduce operating costs.
• Whether government assistance will be available for industrial electrification.

An important distinction is that more renewable electricity does not automatically mean cheaper electricity. Storage, transmission and reliable backup generation also need investment.

B. Gas availability and industrial production

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This is particularly important if your manufacturing processes use gas for heating, boilers, drying or other industrial applications.

New Zealand's domestic gas supply is declining, and the parties have significantly different approaches.

Party	Position on gas
National	Supports further exploration and an imported LNG backup facility.
ACT	Strongly supports domestic exploration and LNG as backup.
NZ First	Supports more domestic exploration and a $1 billion offshore resource survey.
Labour	Wants to reinstate the offshore exploration ban and opposes LNG.
Greens	Opposes new exploration and LNG, favouring renewable alternatives.
Te Pāti Māori	Opposes new exploration and LNG, favouring renewable energy and storage.
Opportunity	Opposes new exploration and LNG, favouring renewable generation.

Gas and the 2026 NZ election: where the parties standThe politics of power: Comparing energy policies ahead of Election 2026

Business implications:

• Businesses that rely on gas may value policies that maintain domestic supply and provide backup during shortages.
• Businesses planning to electrify production may prefer policies offering assistance with equipment upgrades.
• Businesses considering long-term gas-dependent investments face uncertainty about future supply and prices.

One existing development worth knowing about is the Government's Gas Transition Loan Guarantee Scheme, which opened in July 2026. It supports qualifying businesses transitioning away from gas through Crown-backed lending.

The scheme is particularly relevant to larger industrial gas users, although eligibility requirements apply. Gas and the 2026 NZ election: where the parties stand

C. Diesel, petrol and freight costs

rnz.co.nz

For an exporter, fuel policy matters even if your factory itself uses relatively little fuel.

Diesel affects:

• Transport of raw materials to your factory.
• Delivery of finished products to ports and customers.
• Domestic freight and distribution.
• The cost of transporting goods between regions.

There are three particularly important policy differences.

NZ First: Removing the ETS fuel charge

NZ First announced on 24 October that it would remove the Emissions Trading Scheme charge from petrol and diesel.

The party estimates this would reduce fuel costs by 12–14 cents per litre.

That is a party-stated estimate, not a guaranteed reduction in the final pump price. NZFirst to Remove Climate Tax From FuelEnergy, climate and environment policy guide

National: Road-user charges and transport infrastructure

National proposes delaying planned increases in fuel excise and road-user charges, then introducing staged increases from 2028.

It also supports moving towards electronic road-user charges for the whole vehicle fleet, based on distance and vehicle weight.

For freight businesses, National emphasises road maintenance, highway infrastructure, rail and coastal shipping resilience. Where the parties stand on transport | The Chartered Institute of Logistics and TransportRoad User Charges system

Labour: Freezing fuel excise and RUC increases

Labour has promised no increases in fuel excise duty or road-user charges over the next three years.

It argues that this would help households and businesses manage transport costs.

Labour also supports investment in rail and freight infrastructure, particularly the Cook Strait ferry connection. Where the parties stand on transport | The Chartered Institute of Logistics and Transport

The Greens: Electrifying freight and expanding rail

The Greens support:

• Electrification of trucks and other transport.
• More investment in rail freight.
• Greater use of coastal shipping.
• Lower-emissions transport infrastructure.

The party argues that these changes could reduce dependence on imported fossil fuels and improve long-term transport resilience. Where the parties stand on transport | The Chartered Institute of Logistics and Transport

For your business, there is an important distinction between reducing the cost of fuel today and reducing your exposure to fuel-price fluctuations over the longer term.

3. Freight infrastructure and exporting

Energy policy is only part of the picture. Your ability to get products to international customers also depends on New Zealand's transport infrastructure.

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The parties have different transport priorities.

Party	Freight and infrastructure emphasis
National	State highway construction and maintenance, freight resilience, rail and coastal shipping.
Labour	Long-term infrastructure planning, reliable Cook Strait rail-enabled ferries and transport investment.
Greens	More rail freight, coastal shipping and electrified transport.
ACT	Market-led infrastructure and reduced regulatory barriers.
NZ First	Industrial development and energy security, including its proposed Marsden Point Special Economic Zone.
Te Pāti Māori	Energy sovereignty and community-based economic development.
Opportunity	Renewable energy infrastructure and long-term economic development.

Where the parties stand on transport | The Chartered Institute of Logistics and TransportGas and the 2026 NZ election: where the parties standThe politics of power: Comparing energy policies ahead of Election 2026

For an exporter, the practical questions are:

• Will road maintenance improve delivery reliability?
• Will ports and rail connections receive sufficient investment?
• Will coastal shipping provide more alternatives to road freight?
• Will freight operators face higher taxes or road-user charges?
• Will infrastructure investment support regional manufacturing businesses?

An especially important issue is the Cook Strait ferry connection. Disruption or inadequate freight capacity can affect the movement of goods throughout the country.

4. Skilled workers and equipment investment

Although energy policies are not the same as employment policies, the transition to new energy technologies creates demand for additional skills.

Manufacturers may need:

• Industrial electricians.
• Engineers and maintenance technicians.
• Automation and robotics specialists.
• Renewable energy installation specialists.
• Workers trained to operate new production equipment.

Some relevant party employment proposals include:

Party	Relevant workforce or business policy
Labour	Extending Apprenticeship Boost payments, toolbox grants and expanding eligible trades.
Greens	More apprenticeship support and abolishing the training wage.
National	Small-business support and a focus on reducing compliance costs.
ACT	Reducing the cost and risk of employing people and simplifying employment rules.
NZ First	Proposes reducing company tax to 20% for SMEs with turnover below $30 million.
Opportunity	Emphasis on high-skill industries, innovation and technology.

October AMM Comms: Election 2026 – What the Parties Are Proposing for Employers and Small Businesses2026 General Election Policies: What they could mean for businesses | New ZealandOctober AMM Comms: Election 2026 – What the Parties Are Proposing for Employers and Small Businesses

These policies could influence your ability to recruit, train and retain staff.

There is also a financial consideration: if your business buys new machinery, you need to consider not just its purchase price but whether qualified workers will be available to install, maintain and operate it.

5. The biggest differences for your business at a glance

Here is a way to connect the political debate to your actual business decisions.

Your concern	Policies worth examining
Uncertain electricity costs	National's generation plans, ACT's market approach, Labour's reforms, Greens' Kiwipower and NZ First's market restructuring.
Gas supply for manufacturing	National, ACT and NZ First's exploration and LNG policies versus the alternatives proposed by Labour, Greens and others.
Expensive diesel freight	NZ First's ETS fuel-charge removal, Labour's proposed charge freeze and National's staged increases.
Expensive equipment	Policies on electrification finance, investment incentives and business tax.
Finding skilled workers	Apprenticeship support, vocational training and immigration/workforce policies.
Export delivery delays	Road maintenance, rail freight, coastal shipping and port infrastructure.
Long-term investment uncertainty	Whether parties support stable, cross-party energy and infrastructure strategies.

6. Questions worth asking candidates before voting

I would encourage you to look beyond general promises about cheaper energy and ask candidates questions that relate directly to manufacturing and exporting.

These are particularly useful:

1. Electricity: What will your party do to make industrial electricity prices more predictable over the next five years?

2. Gas: What will happen to businesses that cannot economically replace gas-powered production equipment?

3. Freight: How will your party prevent fuel taxes, road-user charges and transport infrastructure costs from increasing the cost of exporting New Zealand products?

4. Equipment: Will you provide grants, tax incentives or affordable finance for small manufacturers investing in more efficient production machinery?

5. Skills: What practical assistance will you provide to businesses struggling to recruit qualified technicians, engineers and tradespeople?

6. Certainty: Will you support a long-term energy and industrial strategy that survives changes of government?

7. Where to investigate the actual party policies

These independent and official resources are useful for checking the detail rather than relying on campaign advertising.

• Rewiring Aotearoa – 2026 party energy policies: Side-by-side comparison of energy and electrification commitments.
• Gas and the 2026 NZ election: Particularly useful for gas-dependent manufacturers.
• Chartered Institute of Logistics and Transport – party transport policies: Direct contributions from National, Labour and the Greens.
• The Conversation – 2026 election policy tracker: Broader comparison of election promises.
• Ministry of Transport – Road User Charges: Explains the current freight and road-funding system.

8. A final consideration: separate your business risks

One thing worth remembering is that a New Zealand election cannot control international demand for your products, global oil prices, overseas shipping rates or exchange-rate movements.

Government policy can influence your domestic operating costs and business investment conditions, but it cannot remove those external risks.

For a manufacturing exporter, I would therefore examine three separate investment scenarios:

• Scenario A – Energy stability: Electricity and gas remain relatively affordable, making conventional machinery investment viable.
• Scenario B – Energy transition: Electricity becomes increasingly important, requiring investment in electrification, new equipment and workforce training.
• Scenario C – Cost volatility: Fuel, electricity and freight costs fluctuate, making flexibility and energy efficiency increasingly important.

The most useful election comparison is how each party's policies affect your exposure to these three scenarios, rather than simply which party promises the cheapest fuel or electricity.

One question that would help me make this comparison considerably more practical:

Does your manufacturing business primarily use electricity, natural gas or diesel in its production processes, or is its biggest energy expense actually freight and transport?

That distinction would allow me to compare the parties' policies against your real operating costs, equipment investment decisions and export competitiveness, without suggesting which party you should vote for.