Source: Radio New Zealand
The survey showed businesses wanted to invest more and at a faster rate, but energy worries were holding them back. RNZ / Nate McKinnon
More than one in three firms have delayed expansion plans or lost contracts due to energy costs and supply issues in the past year.
The findings are from survey of about 300 business leaders by global energy technology specialists Schneider Electric.
Nearly half of firms also warned of reduced profitability and rising operating costs if energy challenges continue.
The findings relate to issues on electricity and gas supply in New Zealand over past last year that have seen some manufacturing firmsshut or downscale operations.
They do not capture the recent spike in energy prices due to the Iran war.
Schneider Electric country president Oliver Hill said the survey showed businesses wanted to invest more and at a faster rate, but energy worries were holding them back.
“It’s a real concern that organisations are just getting by rather than making investments which will make New Zealand more competitive as a country.”
The survey also found the main barriers to adopting new technologies were upfront capital costs, skills shortages and complex regulations.
Top priorities for investment amongst those surveyed were energy efficiency, automating workflows and AI-driven efficiencies.
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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand
