A new initiative will help businesses transition from gas, protecting jobs and securing New Zealand’s dwindling gas supplies for other users, Finance Minister Nicola Willis, Energy Minister Simeon Brown and Associate Energy Minister Shane Jones say.
“The Gas Transition Loan Guarantee Scheme is a practical, helpful Budget 2026 initiative which is expected to make up to $1.2 billion of bank loans available to businesses to eliminate or reduce their dependency on gas,” Nicola Willis says.
“Under the scheme, the Crown will guarantee 80 per cent of each supported loan in return for banks passing on lower interest rates to borrowers. This will make loans more affordable for firms wishing to switch fuel sources.”
Read the full media release on the Beehive website (external link)