'Eye-watering' energy prices possible for next five years

NZ's largest gas user Methanex has cut production to ease gas supply pressure

Tue, 01 Jun 2021

This year’s gas shortage is likely to be repeated next winter, pushing up energy prices, placing further pressure on large gas users and electricity supply, according to advice to the sector.Last week, Methanex agreed to cut methanol production and sell its contracted gas to Genesis to ease the energy crunch in a two year deal.This followed a preliminary report by the sector’s regulator – the Gas Industry Company (GIC) - warning investment was needed to maintain the current gas supply and without this, there is a ris...

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