NZ Steel loses $13m emissions subsidy

NZ Steel loses $13m emissions subsidy
The Glenbrook steel mill is one of NZ's largest industrial businesses. (Image: NZME)
Ian Llewellyn
New Zealand Steel has lost a greenhouse gas emissions subsidy worth about $13 million with the company warning the Government the money was part of the calculations used to justify it switching to an electric arc furnace.Under the emissions trading scheme (ETS), the Government provides companies in emissions-intensive industries exposed to international competition with NZ units (NZUs) each year.The logic is to reduce the risk of closure or moving production offshore to jurisdictions that do not face the same carbon cost.This industrial allocat...

More Law & Regulation

Manuka Doctor trademark appeal dismissed
Law & Regulation

Manuka Doctor trademark appeal dismissed

One judge dissented, saying he would have allowed the appeal.

John Anthony 10 Oct 2025
Smaller lenders eye prudential requirements in RBNZ review
Finance

Smaller lenders eye prudential requirements in RBNZ review

NBDTA proposed a total capital ratio of 10.5% of risk-weighted assets.

Andy Macdonald 10 Oct 2025
Smiths City owes creditors $26.8m
Retail

Smiths City owes creditors $26.8m

The outlook for unsecured creditors of the former retail icon Smiths City appears bleak, as liabilities have mounted to more than $26.8 million.Liquidators for the century-old retailer stated in their initial report that 240 creditors were owed money by the company, as reported b...

Staff reporters 09 Oct 2025
Cost-benefit issues in spotlight amid RBNZ review
Finance

Cost-benefit issues in spotlight amid RBNZ review

The Reserve Bank of NZ had received 42 submissions to the review.

Andy Macdonald 09 Oct 2025