New Zealand Greens Propose State-Owned Energy Company

The Green Party of New Zealand announced a new energy policy yesterday centered on establishing a publicly owned entity called ‘Kiwipower’. Party co-leaders Marama Davidson and Chlöe Swarbrick unveiled the plan at Dunedin’s Gasworks Museum, framing it as a solution to energy affordability and supply issues.

Kiwipower would aim to address a lack of ‘firming’ capacity, backup power for when renewable sources are insufficient, by investing in geothermal, batteries, and other resources, as well as contracting existing capacity from major energy companies. The $3.1 billion, four-year package would be funded by a proposed ‘super-rich tax’ and reallocation of fossil fuel subsidies.

It also includes initiatives like zero-interest clean energy loans for homeowners and a “renters’ right to solar.” Details on implementation remain unresolved, including the amount of capacity Kiwipower would require and how prices would be regulated. The Greens argue the current energy market has failed, leaving 200,000 households unable to afford heating.