Category: CTF

MIL OSI

LiveNews: https://livenews.co.nz/2026/03/25/economy-1970s-style-stagflation-could-hit-global-economy-devere-ceo/

LiveNews: https://enz.mil-osi.com/2026/03/24/economy-why-new-zealanders-still-feel-squeezed-despite-lower-inflation-rbnz/

LiveNews: https://enz.mil-osi.com/2026/03/25/economy-positions-recruitment-for-assistant-governor-financial-stability-underway/

Source: Radio New Zealand

New Zealand is an expensive country, Reserve Bank chief economist Paul Conway says, with many products priced well above the OECD average.

And some things – such as construction services, household utilities and some food items – are among the most expensive in the OECD.

Conway spoke to the National Financial Advisers Conference in Auckland on Wednesday.

He said inflation had been one of the most obvious economic disruptions over the past few years, particularly over the pandemic, when demand combined with a lack of supply sent inflation soaring at the sharpest rate in decades.

He said people were still asking why everything felt so expensive, even though inflation was much nearer the Reserve Bank’s targets than it had been.

Conway said, since the start of the pandemic, overall prices had risen by 26 percent and the price of some essentials had increased much more.

Wages rose 32 percent but that increase was probably not evenly felt – people who moved jobs were more likely to have received larger wage increases.

Conway said that for the past five years, one or more of a range of everyday household essentials that were hard to avoid had been increasing strongly in price at almost every point. “That included prices for council rates, construction services, some foods – including meat and butter, and insurance.

“Because households cannot easily avoid some of these costs, this has no doubt added to the sense of a ‘cost-of-living crisis’.”

Rates, insurance and gas had jumped particularly in recent years.

Tobacco products were among the most expensive in the OECD and milk, cheese, eggs and fruit prices were well above the average. Seafood, clothing, and meat were slightly below average.

“For services, the price of construction in New Zealand is the highest in the OECD and more than double the average. This is undoubtedly a handbrake on housing and infrastructure development here. In fact, the price of ‘capital formation’ – which covers machinery, equipment and construction – is 70 percent above average in New Zealand and also the highest in the OECD. The price of housing services and utilities in New Zealand is also assessed as being the most expensive in the OECD.”

He said low and stable inflation mattered for the cost of living but it was not the whole story.

Monetary policy – such as the official cash rate set by the Reserve Bank – could help to anchor prices but not make New Zealand affordable on its own. He acknowledged that inflation ended 2025 just above the Reserve Bank’s 1 percent to 3 percent target band and was likely to be more elevated because of the Middle East conflict.

He said what mattered for households was their purchasing power.

Before 2020, the purchasing power of wages in New Zealand was growing faster than the OECD average on the back of strong employment growth and favourable terms of trade.

“Today, while wage purchasing power is around average across all 38 OECD members countries, it is about 20 percent below the average of the more advanced OECD economies that we typically compare ourselves to.”

Productivity the key

For there to be continued sustained improvements in purchasing power, there would have to be more productivity, he said.

Real per capita income in New Zealand was below the OECD average, he noted. It had been about 80 percent of the average until the mid-2000s then increased to more than 95 percent by 2020.

“Since 2020, real income in New Zealand has fallen back to around 90 percent of the OECD average and the income gap vis-à-vis Australia has widened. Purchasing power, as measured by real income, has not kept pace with the rest of the OECD nor Australia since the beginning of the pandemic.”

Wages had declined less compared to the OECD average and were at best average, he said.

“Importantly, this is compared to all 38 current OECD member countries, which includes several emerging economies. Compared to the 30 OECD member countries in 2010, average incomes in New Zealand sit around 20 percent below the average.”

He said productivity growth would be the single most powerful determinant of higher real incomes and better purchasing power over the long run.

“New Zealand’s productivity performance leaves much to be desired and has lagged other OECD economies. Further, productivity growth in the New Zealand economy fell significantly following the global financial crisis and has been negative in the wake of the pandemic.

“While low and stable inflation is a key ingredient in lifting productivity and improving purchasing power, it is insufficient on its own. By anchoring prices, monetary policy creates the conditions for growth. But sustained gains in purchasing power require structural improvements in the economy.”

Measures to improve resilience

He said a more fragmented and unpredictable global economy would raise the stakes for ensuring New Zealand’s structural policies were resilient, adaptive and fit for purpose.

“We are in a new era of heightened geopolitical risk and persistent uncertainty, with the conflict in the Middle East a timely reminder of how quickly geopolitics can disrupt the global economy. At the same time, cross-country flows of trade, capital, and people are shifting, governments are becoming more interventionist, and the rules-based order that once underpinned global integration has weakened considerably.

“This is not a temporary shock that we can simply wait out. It’s a durable shift that makes the global economy more difficult and dangerous for small economies like New Zealand. We are more exposed to external shocks, fragile global supply chains, and shifts in global rules and norms over which we have little control.”

He said sustaining living standards would depend on structural policy settings that built resilience into the structure of the economy by encouraging flexibility, investment and adaption.

“A more resilient and flexible economy would mean monetary policy does not have to work as hard, or be as aggressive, to stabilise inflation as shocks wash through the economy.

“While monetary policy plays a critical role in responding to shocks, it cannot solve New Zealand’s ‘cost-of-living crisis’. Low and stable inflation underpins economic stability and is critical for sustained gains in purchasing power. But monetary policy does not create prosperity directly. It creates the conditions in which prosperity can endure.

“Improving the purchasing power of New Zealand households requires improved productivity. Productivity gains support stronger real wage growth, while competitive markets help keep price increases in check… stronger productivity raises the economy’s speed limit – allowing faster growth without inflation. A more resilient and flexible economy also means monetary policy doesn’t need to be as aggressive to keep inflation stable when shocks hit.”

Sign up for Money with Susan Edmunds, a weekly newsletter covering all the things that affect how we make, spend and invest money.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://nz.mil-osi.com/2026/03/25/new-zealand-is-expensive-reserve-bank-economist-says-heres-what-we-can-do-about-it/

Source: New Zealand Government

A new prospecting permit application in the offshore Canterbury Basin signals renewed sector confidence in pursuing opportunities in New Zealand’s search for oil and gas, Resources Minister Shane Jones says.

New Zealand Petroleum & Minerals (NZP&M) has today opened a three-month competitive process for an application submitted by CBX Energy Limited. The proposal outlines a programme of technical and economic studies, including work on a comprehensive Canterbury Basin development strategy.

“The Canterbury Basin, off the east coast of the South Island, is one of New Zealand’s 18 sedimentary basins with known or potential hydrocarbons. It has long been viewed as a promising but largely untapped opportunity,” Mr Jones says.

“The basin remains far less explored than comparable regions overseas, highlighting how much potential is still to be tested.

“Further prospecting and exploration in the Canterbury Basin could unlock new domestic energy resources, strengthening New Zealand’s long‑term energy resilience and creating valuable economic opportunities.”

NZP&M will accept competing applications until 5pm, 24 June. Applications will be prioritised in accordance with the criteria set out in the Minerals Programme for Petroleum 2025. A permit may be awarded in response to the best application that also meets requirements of the Crown Minerals Act 1991. A petroleum prospecting permit is an early‑stage, low‑impact permit that allows a company to search for evidence of petroleum/oil and gas.

Since the removal of the petroleum exploration ban in late 2025, two exploration permit applications have already progressed through the competitive process and are now under assessment, with decisions expected later this year.

For more information see: Applications under the open market competitive process – New Zealand Petroleum and Minerals

LiveNews: https://nz.mil-osi.com/2026/03/24/prospecting-application-targets-frontier-acreage/

Source: Maritime New Zealand

Vessels can discharge oily water that causes harm to the oceans and rivers we depend on for our livelihoods and wellbeing.

LiveNews: https://nz.mil-osi.com/2026/03/24/easy-ways-to-avoid-oil-discharges/

Source: New Zealand Government

The Government is taking practical steps to strengthen New Zealand’s fuel resilience by temporarily allowing fuel that meets Australian specifications to be supplied to the New Zealand market, Associate Energy Minister Shane Jones says.

“In a tight global fuel market, flexibility matters. Countries that can access a wider range of shipments are better placed to keep fuel flowing. This decision removes unnecessary technical barriers and helps ensure New Zealand isn’t excluded from available supply our neighbours across the Tasman are accessing,” Mr Jones says.

The temporary alignment will open up more options for fuel importers by allowing fuel refined to Australian specifications to be supplied domestically.

“The change reduces the risk of supply disruptions driven purely by technical specification differences. Fuel companies have told us this could allow them to secure shipments more quickly and from a wider pool of suppliers.

“Our fuel specifications are already very similar to Australia’s. Fuel refined to Australian standards is compatible with New Zealand vehicles and meets safety and quality expectations.”

New Zealand will not, at this stage, be following Australia’s lead and relaxing standards to allow higher sulphur fuel. Australia has made the decision so it can access high-sulphur fuel from its Brisbane refinery.

“However, we will keep an eye on whether further changes to fuel specifications could open up further supply channels if necessary,” Mr Jones says.

“This is a sensible, time‑limited step that gives importers access to a broader range of fuel shipments, including those already in our region.

“We are closely monitoring market conditions and will keep under review any further practical measures that could strengthen New Zealand’s fuel supply resilience while global conditions remain uncertain.”

The temporary alignment with Australian specifications could remain in place for up to 12 months if needed.

Editors’ note:

Fuel specifications set the minimum technical and environmental requirements that petrol, diesel and other transport fuels must meet before they can be supplied in New Zealand. Each country has its own fuel specifications.
Where there are differences in fuel specifications for the purpose of catering to different climatic conditions, this is dealt with by the requirement that fuel sold in New Zealand must still be ‘fit for common purpose’. For example, this means diesel for hot climates cannot be sold in very cold ones. 

LiveNews: https://nz.mil-osi.com/2026/03/23/government-widens-fuel-supply-options/

LiveNews: https://enz.mil-osi.com/2026/03/25/energy-re-energise-26-highlights-opportunity-for-energy-sector-workforce-to-secure-new-zealands-energy-future/

Source: The Conversation (Au and NZ) – By Tauel Harper, Associate Professor in Communications and Media, Murdoch University

The US military action in Iran may have an unintended secondary effect – ending the cultural dominance of the internal combustion engine and ushering in the age of electric vehicles.

Back in the 1970s, a sudden increase in the price of oil led to the public embracing smaller and more fuel efficient cars; similarly, the choking of the Strait of Hormuz, and the resultant high cost of oil, is driving a historic surge of interest in electric vehicles.

Google Trends data shows that almost three times as many Australians searched for “electric vehicles” on March 23 when compared to February 27, the day before the US started to bomb Iran and the cost of oil (and fuel) started to skyrocket. The increase in RSV (Relative Search Volume) represents a 278% increase in Australians searching for “electric vehicles”.

While research shows a number of factors influence Australians’ choice to own an electric vehicle, the price and availability of energy clearly plays a central role and the weight of public opinion is slowly shifting towards embracing EVs.

EV interest remains over time

Historically, the relationship between the cost of petrol and interest in electric vehicles (EVs) is even more telling. The graph below shows a clear pattern of higher petrol prices leading to more searches for EVs.

While the most notable feature of this data is the dramatic increase in searches for EVs since the US attacks on Iran began, it’s also interesting that while interest in EVs often drops as oil prices return to “normal”, it never drops back down to its previous level. Once sparked, our interest in EVs remains higher than before.

For instance, after the spike in oil prices following Russia’s invasion of Ukraine in 2022, you can see a similar spike in searches for EVs. However, even after the oil price had dropped back down and stabilised, the Relative Search Volume (RSV) of Google searches for EVs remained at a higher level than before the invasion.

This suggests consumers retain some interest in EVs after the increase in oil prices has passed. Perhaps these global oil crises prompt the realisation that relying on energy imported from the other side of the world is more tenuous than relying on energy from your own rooftop.

A pragmatic interest in saving money

My colleagues and I recently explored Australia’s cultural attitudes to EVs. We argued increasing access to household solar energy was driving an enthusiasm for a new relationship with energy. But long-held anxieties around range, infrastructure, gender roles and national image, as well as traditionalist hold outs like enthusiast car culture and engine sounds, as factors that inhibit the take up of EVs in Australia.

However, the clear signal this trend data sends is that Australians are a pragmatic lot. If using an EV might save them money, then they are interested.

The data also presents a warning to car makers that have “bet against” the rise of the electric vehicle. Porsche, Lambourghini and Ferrari have all recently announced plans to reconsider or scale back their production of EVs. This is based on their assessment of shifts in the “political climate”, with security and trade taking precedence over “environmental concerns”.

While economic driving may not be a concern for many Ferrari drivers, Toyota has also made the decision to “not go all in” on electric. Instead, it offers only one full EV in Australia, amid a range of internal combustion and hybrid options. This bet against electric vehicles may look foolish if oil prices continue to rise.

Is this the ‘critical mass’ for EVs?

Google trends data is an enigmatic metric. It tells you how interest in things changes but not how much interest there is overall. According to sales data, there was a slump in EV sales in 2024, but EV sales in February 2026 were already 95% higher than they were in February 2025. The evidence of Google Trends suggests March’s results will show even more of an increase.

While technological change can be difficult to initiate, new technologies tend to reach a tipping point when they reach a “critical mass” of public adoption. Like the move from LPs to CDs to streaming services, what starts out as idiosyncratic can soon become a norm. Similarly, technology that once seemed here to stay can quickly become outdated.

With the cost of petrol rising once again, and Australians increasingly harnessing their solar electricity, we are rapidly normalising the benefits of electric vehicles.

I’d like to acknowledge the contribution to this article of my colleague, car enthusiast and academic Damian Fasolo, whose understanding of car culture contributed significantly.

– ref. Our interest in electric vehicles has grown due to oil price spikes. And it’s likely to remain – https://theconversation.com/our-interest-in-electric-vehicles-has-grown-due-to-oil-price-spikes-and-its-likely-to-remain-278664

Evening Report: https://eveningreport.nz/2026/03/25/our-interest-in-electric-vehicles-has-grown-due-to-oil-price-spikes-and-its-likely-to-remain-278664/

Source: The Conversation (Au and NZ) – By Jason Tian, Senior Lecturer, Finance School of Business, Law and Entrepreneurship, Swinburne University of Technology

Many Australians don’t realise their superannuation savings – worth A$4.5 trillion and growing – may be invested in fossil fuel companies, gambling, or even weapons manufacturers.

If you’ve switched how your super is invested to avoid any of those industries, you’re not alone.

The latest official superannuation statistics show most of Australia’s major super funds now offer investments designed to reduce exposure to everything from coal and oil to other industries like tobacco, weapons, gambling and alcohol.

But if you care about particular issues – from climate change to weapons of war – it’s worth reading the fine print to be sure where your money is going.

It’s easy to put off thinking about superannuation when retirement is years away. In this five-part series, we ask top experts to explain how to sort your super in a few simple steps, avoid greenwashing, and set goals for retirement.

What even counts as ‘sustainable’?

There’s no single definition of what makes a super option “sustainable” or “responsible”. So it’s not easy for consumers to compare different funds.

That’s why the federal government is currently consulting on clearer labelling rules for financial products marketed as “sustainable” (and a long list of similar terms) – including for superannuation.

For now, each fund sets its own criteria.

A few funds, such as Australian Ethical and Future Super, only offer sustainable options, with tighter investment restrictions than most super funds. Even so, the fine print matters.

For instance, in Australian Ethical’s case, weapons makers and tobacco producers are excluded outright. But a diversified company earning a small share of revenue from fossil fuels or alcohol may still be held, if its positives are judged to outweigh its negatives.

Among the biggest super funds, which most Australians have their super in, there’s a wide variety of “sustainable” options on offer.

Check what’s screened in or out

Most super sustainable options in Australia use some combination of “negative screening” (excluding sectors like fossil fuels, gambling or weapons) and “positive screening” (favouring companies with strong environmental, social and governance practices). But those thresholds vary widely.

A common approach is to set a revenue threshold, rather than an outright ban. This means a company can still be held as long as its income from a screened activity stays below a set percentage.

For example, HESTA’s “sustainable growth” option has a long list of exclusions, including companies with thermal coal, oil and gas reserves, tobacco and controversial weapons. Its thresholds vary for each category, from outright bans (such as on uranium miners) to restrictions on revenue (such as weapons).

Australia’s biggest super fund, AustralianSuper, has a “socially aware” option with some of the same exclusions. But its thresholds also vary. Last year, AustralianSuper attracted criticism for buying back into Whitehaven Coal for its wider, non-sustainable investment portfolio – a reversal of its 2020 sale of stocks in the coal miner.

The Australian Financial Review recently reported Australia’s third-largest pension fund Aware Super was lifting some restrictions on investments in carbon-heavy companies, under a new benchmark system to track which companies are doing most to cut emissions.

However, Aware Super told The Conversation that current fossil fuel screens in place for its “socially conscious” investment options “remain unchanged”.

Just last month, the Environmental Defenders Office lodged a complaint with the Australian Securities and Investments Commission (ASIC) about industry fund UniSuper. The complaint came after UniSuper halved the environmental revenue threshold for its “global environmental opportunities” product – from 40% to 20%.

UniSuper has said those changes were made “to expand the investible universe while maintaining the option’s environmental theme”.

Watch out for greenwashing

Australia’s corporate regulators are responding to more greenwashing allegations – with some resulting in fines.

ASIC has had several wins against major funds for misleading sustainability claims.

In a landmark first Federal Court greenwashing case in 2024, Mercer Super was fined $11.3 million after admitting it made misleading statements about its “sustainable plus” options.

Vanguard was then hit with a record $12.9 million penalty, after it was found to have misled investors about its $1 billion ethical bond fund.

And last year, Active Super was ordered to pay $10.5 million in a third greenwashing case. The court found Active Super’s marketing claimed it had eliminated investments in areas like gambling, coal mining and oil tar sands – when it hadn’t.

The Australian Competition and Consumer Commission (ACCC) has again made greenwashing one of its enforcement priorities for the next year. The watchdog predicts misleading environmental claims will “continue, if not increase” as Australia transitions toward “net zero” emissions.

It pays to ask questions

None of this means sustainable investing is a bad idea.

In fact, research suggests companies investing in sustainable and socially responsible activities tend to be better governed – and that this is more often than not good for shareholders too.

But the labels and screening methods matter enormously.

If you’ve chosen a “sustainable” or “socially responsible” option because you care about particular issues, it’s worth checking if the fine print in your fund meets your expectations.

If you think your fund’s claims don’t stack up, try contacting your fund. If that doesn’t work, you can report concerns to ASIC or the ACCC.

Disclaimer: This article provides general information only and is not intended as financial advice.

– ref. Is your ‘sustainable’ super funding fossil fuels or weapons? How to check the fine print – https://theconversation.com/is-your-sustainable-super-funding-fossil-fuels-or-weapons-how-to-check-the-fine-print-276879

Evening Report: https://eveningreport.nz/2026/03/25/is-your-sustainable-super-funding-fossil-fuels-or-weapons-how-to-check-the-fine-print-276879/

Source: New Zealand Government

A report released today shows coordinated action is needed to build New Zealand’s energy workforce and meet growing demand across the energy sector, Social Development and Employment Minister Louise Upston says.

“The Re‑Energise 26 report shows that without the right people, in the right roles, at the right time, we risk slowing growth and missing opportunities across the energy sector”, Louise Upston says. 

Re-Energise 26 maps workforce needs across the full energy sector and identifies key challenges including sectoral uncertainty, uncoordinated workforce initiatives, training pipeline issues, pressure to fill critical roles, and bottlenecks in supervision, mentoring and assessment.

“This report is clear about the challenges facing the sector, but it also points to real opportunities. It is now more important than ever that we support talent development across the energy sector. 

“A more unified approach could help get New Zealanders into work, strengthen pathways into energy sector careers, and ensure employers can access the skills they need.”

Government, industry and training providers all have a role to play in strengthening the energy workforce, including improving career visibility and building clearer pathways into energy sector jobs.

“Our Government is focused on fixing the basics and building the future and we need a strong pipeline of talent, better connections between job seekers and employers, and training that gives people the skills they need for sustainable careers.”

The report also highlights the importance of timing, particularly in regions experiencing declining industries, where skilled workers risk being lost before new energy opportunities are available.

“The Government welcomes the clarity and evidence this report provides, and looks forward to working with industry, educators, regions and communities to turn these insights into action,” Louise Upston says.

Re-Energise 26 was produced by Energy Resources Aotearoa and the Electricity Engineers’ Association, with data and analytical insights provided by the Ministry of Business, Innovation and Employment.

The report is available at: https://eea.co.nz/what-we-do/projects/re-energise-2026/

MIL OSI

LiveNews: https://livenews.co.nz/2026/03/25/workforce-planning-key-to-meeting-new-zealands-energy-needs/

Source: New Zealand Government

A new prospecting permit application in the offshore Canterbury Basin signals renewed sector confidence in pursuing opportunities in New Zealand’s search for oil and gas, Resources Minister Shane Jones says.

New Zealand Petroleum & Minerals (NZP&M) has today opened a three-month competitive process for an application submitted by CBX Energy Limited. The proposal outlines a programme of technical and economic studies, including work on a comprehensive Canterbury Basin development strategy.

“The Canterbury Basin, off the east coast of the South Island, is one of New Zealand’s 18 sedimentary basins with known or potential hydrocarbons. It has long been viewed as a promising but largely untapped opportunity,” Mr Jones says.

“The basin remains far less explored than comparable regions overseas, highlighting how much potential is still to be tested.

“Further prospecting and exploration in the Canterbury Basin could unlock new domestic energy resources, strengthening New Zealand’s long‑term energy resilience and creating valuable economic opportunities.”

NZP&M will accept competing applications until 5pm, 24 June. Applications will be prioritised in accordance with the criteria set out in the Minerals Programme for Petroleum 2025. A permit may be awarded in response to the best application that also meets requirements of the Crown Minerals Act 1991. A petroleum prospecting permit is an early‑stage, low‑impact permit that allows a company to search for evidence of petroleum/oil and gas.

Since the removal of the petroleum exploration ban in late 2025, two exploration permit applications have already progressed through the competitive process and are now under assessment, with decisions expected later this year.

For more information see: Applications under the open market competitive process – New Zealand Petroleum and Minerals

LiveNews: https://nz.mil-osi.com/2026/03/24/prospecting-application-targets-frontier-acreage/

LiveNews: https://enz.mil-osi.com/2026/03/25/transporting-new-zealand-calls-for-payload-increases-to-mitigate-diesel-price-hikes/

Source: Radio New Zealand

Some Meridian customers have complained of increases in the cost of the power they use for their electric vehicles – but interest in electric cars overall is booming.

A number of EV owners have taken to social media to question increases in the power company’s Electric Vehicle Power Plan.

One was told that when his plan renewed on 1 May he would be put on a new fixed rate plan, which would mean more than 50 percent increases on the day and night rates, and a 30 percent increase on the daily fixed charge.

Another said the increase could add hundreds to his monthly power bill.

Meridian said some customer plans were changing.

“Our EV plan offers a fixed rate for two years and we recently communicated with some customers whose term is coming to an end about their new offer. As you know, beyond our own costs there have also been substantial increases from lines and distribution networks over the last couple of years and this is another flow-on effect of that.”

Mike Casey, chief executive of Rewiring Aotearoa, said he had been contacted by people about the changes, too.

“What is driving these increasing costs is probably not actually Meridian themselves, but the cost to transport the electrons or the power from the power plants all the way to your home, and that’s namely the poles and wires.

“What we’ve seen very recently is the Commerce Commission allowing for much higher expenditure and much higher charging of customers for the maintenance and the growth of our poles and wire network in New Zealand.”

He said it would have been nice if the power company had “read the room a little bit” in the context of fuel prices increasing quickly.

“We have a really big opportunity here to convert a lot of drivers over to electric, and the news that energy into electric vehicles is also going up isn’t really what we want to be hearing right now.

“We want to be trying to encourage as many drivers into electric vehicles as possible because they will save a lot of money.

“The key thing here is even with the prices going up, the savings potential is absolutely huge. All this increase in Meridian’s prices are absolutely dwarfed by what’s going on the fossil fuel market at the moment, so I hope that New Zealanders, even though they see price rises on both options, that they realise how small one price rise is compared to the other price rise at the moment.”

He said charging an electric vehicle off the normal grid would cost the equivalent of about $1.50 a litre. “If you charge an electric vehicle off your rooftop with your solar, you’re probably paying close to $1.15 a litre … compared to what $3.30, $3.50 a litre, whatever it might be at the moment, you can see there’s still incredible savings by going electric.”

Westpac New Zealand managing director of institutional and business banking Reuben Tucker said demand for electric vehicles through the bank’s greater choices home loan top up and other loans for electric vehicles had soared.

“In the last two weeks the number of applications for EVs through these products has roughly doubled,” he said.

“We’re the only bank to offer interest-free lending on EVs and chargers, which is a key way we can help customers manage higher living costs not just now but in case of future events.”

Trade Me said people were also motivated to look for ways to become independent with their homes.

Searches for “off-grid” properties were up 68 percent year-on-year in the last month.

Sign up for Money with Susan Edmunds, a weekly newsletter covering all the things that affect how we make, spend and invest money.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://nz.mil-osi.com/2026/03/25/ev-owners-complain-of-50-percent-power-price-increases/

Source: Radio New Zealand

The rural sector says it is being challenged by soaring diesel prices, the likes of which one operator says it has never seen before.

JTC Viticulture in Marlborough is partway through a busy grape harvest, with 14 harvesting machines and 28 tractors running 24 hours a day.

“We have about 90 people to run that operation,” managing director Jason Tripe said. “Our diesel price has increased sort of 90 percent over the last two-and-a-half weeks, pretty much.”

Tripe said the company was used to fluctuating fuel prices, but nothing like this.

“Fuel is a large part of our cost, and the biggest challenge about this has been the short nature, it’s happened so quickly.

“And we’ve quoted or priced work based on a known number and fuel has been part of that, we’ve been seriously impacted by that because of the speed it’s gone up.”

Tripe said the immediate impact had been “incredible”.

“So it’s been pretty difficult to manage that, our clients have been very open to discussions about it but they’re under pressure as well because our industry is facing a few headwinds at the moment and our returns are down, so this is just another hit to us basically.”

He said clients were being asked to consider paying more, but it was a double-edged sword given the challenges they were facing themselves.

“But our clients for the main part have been understanding, and we’ve sort of soaked up what we can and we’ve sort of met in the middle.”

Asked if he had seen anything like the surge in diesel pricing before, Tripe said “nothing even comes close” in the time the company had been operating.

“It’s staggering, really.”

Tripe said every load of diesel being delivered was a different price and going up several times a week.

The sooner harvesting was complete the better, he said, and added his supplier had already said diesel supplies were getting tight.

“We’re dealing with the increased costs, but in the background is concern about supply. We’re using large volumes daily, and if we can’t get that fuel delivered then machines will come to a halt.

“We’re just hoping we get the harvest completed before things really start to bite from a supply issue, not to mention the cost.”

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– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://nz.mil-osi.com/2026/03/25/staggering-diesel-prices-changing-several-times-a-week-always-up-grape-farmer/

Source: Radio New Zealand

The logging industry is warning some companies could be on the brink as the conflict in Iran pushes up the cost of diesel.

Logging operators say it’s increasingly difficult to get logs to port and if the situation drags on, export-reliant regions like South Canterbury and the west coast of the North Island could face shutdowns.

“The costs of shipping have risen dramatically, with rates going from roughly 33 US dollars per cubic metre into China for March, through to about 45 US dollars in April. It’s a perfect storm just right now.”

Forest Management group director Glenn Moir said that would put some companies on the brink.

“I can see that if it does continue we’re going to face some real pressure in the higher cost forests, so the ones that are further away from the market and have steeper country, just to make it economic.”

There had been some huge cost pressures going through the chain. The industry was diesel dependent, and it took 12 litres of diesel to produce one tonne of logs.

Higher diesel prices meant a 25 percent increase in costs across their operations for logging contractors.

“The industry can’t sustain that.”

Talks were continuing with everyone involved, including forest owners, to try and get some agreement on what could be done in the short-term.

The costs of shipping were also rising dramatically, Moir said.

“It’s a perfect storm right now.”

Moir said until the war in Iran started, 2026 had been looking like a fantastic year for the forestry industry, with export prices rising and domestic demand growing.

“All that turned on its head three weeks ago, and we’re struggling a little bit now with these rising costs.”

The government’s latest Situation and Outlook for Primary Industries report showed forestry exports were forecast to rise 2 percent this year.

The industry employs 42,000 people around the country and is the sixth-largest export owner.

While the Chinese market was declining, there was growing demand for New Zealand logs from India, Moir said.

“… and the FTA towards the end of last year really helped that.”

The forestry industry were a resilient bunch.

“We’ll work together and get through this. It is going to be pretty tough, especially if we move to Level 2 under the National Fuel Plan.”

Impact on older New Zealanders

The head of Age Concern Auckland said soaring petrol prices were making the basics of life even more difficult for already vulnerable elderly people.

The government announced yesterday around 143,000 people would receive up to $50 per week through the in-work tax credit to help with fuel costs.

But beneficiaries and superannuitants would not qualify.

Age Concern Auckland chief executive Kevin Lamb said increases in superannuation, in response to the high cost of living, were not agile enough to meet the sudden rise in petrol prices.

Superannuitants would miss out as trips to the doctor or medication started to eat into basic budgets for food and essentials, he said.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

LiveNews: https://nz.mil-osi.com/2026/03/25/higher-diesel-shipping-costs-pile-pressure-on-logging-industry/

Source: Maritime New Zealand

Vessels can discharge oily water that causes harm to the oceans and rivers we depend on for our livelihoods and wellbeing.

LiveNews: https://nz.mil-osi.com/2026/03/24/easy-ways-to-avoid-oil-discharges/