New Zealand: Asia-Pacific energy series, country report

The New Zealand energy sector has undergone significant changes in the past few years. Reform and deregulation came to New Zealand in large doses and at a rapid pace. Unlike Japan where deregulation was designed for a five-year phase-in period or even Australia where the government was fully geared up to handle deregulation, deregulation occurred in New Zealand almost with no phase-in period and very little planning. Under fast-paced ''Rogernomics,'' the energy sector was but one more element of the economy to be deregulated and/or privatized. While the New Zealand energy sector deregulation is generally believed to have been successful, there are still outstanding questions as to whether the original intent has been fully achieved. The fact that a competent energy bureaucracy was mostly lost in the process makes it even more difficult to find those with long enough institutional memories to untangle the agreements and understandings between the government and the private sector over the previous decade. As part of our continuing assessment of Asia-Pacific energy markets, the Resources Programs at the East-West Center has embarked on a series of country studies that discuss in detail the structure of the energy sector in each major country in the region. To date, our reports to the US Department of Energy, Assistant Secretary for International Affairs and Energy Emergencies, have covered Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, the Philippines, Singapore, South Korea, Taiwan, and Thailand. The country studies also provide the reader with an overview of the economic and political situation in the various counties. We have particularly highlighted petroleum and gas issues in the country studies and have attempted to show the foreign trade implications of oil and gas trade. Finally, to the greatest extent possible, we have provided the latest available statistics