“A combination of hydro lakes refilling beyond historical means, increased year-on-year geothermal, wind, and solar generation, along with reduced electricity demand resulted in 94.3 per cent of all electricity being generated from renewable sources in the December 2024 quarter. This also meant that we relied less on coal and gas fired generation,” says Generosa.

“The renewable share of generation reached its 4^th highest quarter level on record, with quarterly emissions from electricity generation falling to their lowest level on record.

“Often, a greater share of non-renewable energy is needed to meet overall electricity demand – however with generation at its lowest quarter level since 2016, renewables were able to meet the majority of demand.

“Lower electricity use by New Zealand Aluminium Smelters, following its demand response agreement with Meridian being called on in the September 2024 quarter, contributed to a 9 per cent year-on-year fall in electricity demand from the industrial sector.

“Gas generation fell 29.9 per cent year-on-year, while coal fired generation fell 64.1 per cent year-on-year this quarter. As a result, emissions from electricity generation fell accordingly. Emissions were 400 kt CO2-e in the December 2024 quarter, the lowest level on record.

“In addition to hydro lakes filling beyond historical means, total renewable generation capacity was bolstered this quarter with a 5% increase in new geothermal capacity due to a new plant at Te Huka 3 connecting to the grid,” says Generosa.

Alongside Energy Quarterly, MBIE has also released 2024 year end data for Oil, Gas, Coal, and Prices (petrol, diesel and natural gas). This data, along with full energy quarterly results, data, and graphs can be read on the MBIE website here: https://www.mbie.govt.nz/building-and-energy/energy-and-natural-resources/energy-statistics-and-modelling/energy-publications-and-technical-papers/new-zealand-energy-quarterly

2025 Quarter 1 results will be announced on 12 June 2025.