Security and Reliability Council issues review of 2026 electricity year

The Security and Reliability Council (SRC) has released its first Year in Review report, for the 12 months to June 2026.

The SRC is established under the Electricity Act 2010 to provide independent advice on the performance of the electricity system, on Transpower as System Operator, and on reliability of supply, to the Electricity Authority Te Mana Hiko (Authority).

“The SRC acts as a ‘canary in the coal mine’ for New Zealanders – identifying electricity system risks and opportunities early,” says Independent Chair Hon Heather Roy.

The SRC report covers a year ‘characterised by change and challenge’. It summarises the SRC’s focus, its advice to the Authority and other parties, and its outlook for the year ahead.

Roy says 2026 was a pivotal year for New Zealand’s electricity and broader energy systems.

“We’ve faced challenges including a tight supply-demand balance, further deterioration in the gas supply outlook, growing electrification and rapid changes in technology.

“Shocks to the global energy system, such as the closure of the Strait of Hormuz, have shown that threats to New Zealand’s energy security remain very real.

“The aim of the report is to make the SRC’s work and advice more accessible to stakeholders. While the SRC engages with issues of the day, its real advantage is being able to step back and objectively assess medium- and longer-term challenges and opportunities.”

The SRC provides advice to the Authority each quarter. This advice is summarised in the new report, covering issues such as falling domestic gas production, electricity system stability, regulations around trees to reduce network damage, and the growing risk from cybersecurity to electricity systems worldwide.

Looking ahead, Roy says the Council will continue to identify and advise on emerging risks and focus on sector readiness to meet demand growth while preserving reliable supply through the 2030s.

The Authority’s Acting Chair Erik Westergaard welcomed the ‘Year in Review’ and said the SRC makes a valuable contribution to the Authority’s work to ensure a secure and reliable supply of electricity for the benefit of all New Zealanders.

“It’s great to have a document like this published so people can learn more about the important role the SRC plays, and see the scope and quality of its advice.

“We expect the SRC’s role to continue to be important as the sector continues to evolve. In particular we will rely on the SRC’s expertise and advice in reviewing the Security of Electricity Supply Report the Minister for Energy has asked us to start providing each year.”

The SRC’s 2026 ‘Year in Review’ report is available on the Authority website alongside its quarterly advice reports and other information.

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