Nov 29, 2017 - New Zealand Energy Corp. ("NZEC" or the "Company") (TSX-V: NZ) announced today it has filed with Canadian regulatory authorities its third quarter 2017 financial results and management discussion and analysis, which documents are available on the Company's website at www.newzealandenergy.com and on SEDAR at www.sedar.com.
Reflecting on the direction of the Company after the third quarter 2017 results, Chairman James Willis said: “During the last quarter the results for the Company were adversely affected by a number of issues arising from equipment failures and unplanned maintenance. I look forward to a better production performance in the next quarter. We continue to make solid progress towards implementing the Waihapa enhanced oil project. Small but important steps, such as upgrades to the gas processing system (to restore full gas dehydration and measurement) have been completed. And arrangements to enable sales of non-specification gas are being finalised. It is an important project for the Company - the Board, our CEO Mike Adams and his team are focused on ensuring we continue to optimize the project (technically, operationally and financially) and on safely implementing the next redevelopment stage in Q1 2018.”.
Cash used in operating activities for the nine months was $104,829 (2016: $131,768) and for the quarter was $170,437 (2016: $84,143). The net loss for the nine months was $1,463,669 (2016: $2,886,458), of which $1,236,800 (2016: $1,741,293) was represented by non-cash items (depreciation, depletion and accretion). For the quarter, the net loss was $320,376 (2016: $1,126,194) of which $382,531 (2016: $523,198) was non-cash (depreciation, depletion and accretion). The Company achieved average net daily production of 206 boe/d (87% oil) for the nine months (2016: 231 boe/d (76% oil)); and for the quarter 106 boe/d (93% oil) compared to 150 boe/d (84% oil) during the third quarter of 2016.
| An New Zealand Energy Corp. release || November 29, 2017 ||
Nov 29, 2017 - Some overseas reports say petrol cars may be obsolete by 2026 but either way the massive switch to electric vehicles will be the biggest disruptive change to people’s lives in more than 100 years, NZTech chief executive Graeme Muller says. As New Zealand’s 15,000 motor mechanics get ready for the exciting electric vehicle (EV) era, petrol cars will soon begin to phase out in the biggest change to transport in the modern era, Muller says. “A couple of weeks ago, I was at a conference on digital transformation and a presenter showed a photo of Times Square in New York from 1900, complete with horses and carriages. “Then we were shown the same view, in 1920 and not a horse to be seen. Something like 20 million horses were unemployed within 20 years. Last week, Stanford economist Tony Seba told APEC delegates in Wellington that this process has already started for cars. “He believes the tipping point is here and no petrol vehicles will be built after 2025. Tony also believes that the number of cars will have decreased by 80 percent by 2030, with most of us opting to ride in an Uber style self-driving vehicle. “I dropped my daughter off at school the other day and I was almost run over by a Tesla. We stepped out between two parked cars, heading towards the school gates, when this lovely looking car glided past. “It didn’t make a sound. Instant car envy. It got me thinking about technology change. Before my daughter finishes school, I will no longer have to do the school run. Maybe one of those purring Tesla’s will collect her.” According to Tony Seba, on current trends it will be cheaper to build a mid-range EV costing US$33,000 than a conventional car by 2019, and they would be cheaper than the average equivalent conventional small car by 2022. The next step is embeddeing the technology into roads. This is being piloted in several countries including UK, Israel and Sweden. The technology, similar to that developed by Kiwi company PowerbyProxi which was recently purchased by Apple, allows wireless charging from the road to the car. This charge-as-you-drive system would overcome battery limitations. “EVs will also play a crucial role in supporting the environmental sustainability of future transport. Helping to rid the environment of harmful fossil fuels, cutting down on air pollution emissions and providing not just a more convenient future, but a healthier one too,” Muller says. “So consider the horse and car example, by 2037 if you look along Highway 1 in New Zealand the number of human driven petrol vehicles will have probably dropped substantially to about 1 in every 10 vehicles. “The cost of insurance and enviro taxes making them too expensive for most people to run. It will be likely that many roadways in New Zealand will have embedded inductive charging systems allowing EV’s to travel and charge at low costs, and the majority of the population won’t own a car, instead choosing to “request” a vehicle when they need it. “There will be more ride sharing, lower cost of transport, reduced environmental impact, more space on roads and easier parking.”
Nov 21 2017 - An Energy Research Strategy for New Zealand released this week by the National Energy Research Institute (NERI) is an important step toward securing a sustainable future for the country’s energy needs, says Victoria University of Wellington Vice-Provost (Research) Professor Kate McGrath. NERI is a consortium of research providers and other stakeholders in the energy sector, including Victoria, and works to stimulate, promote, coordinate and support high quality energy research and education in New Zealand.
Its strategy, launched at Victoria Business School by the Hon Dr Megan Woods, Minister of Energy and Resources and of Research, Science and Innovation, was developed in association with over 150 energy stakeholders in research organisations, businesses, industry associations and government agencies, with the aim of providing a framework to develop more detailed research programmes.
“The actions set out in the strategy are all within New Zealand’s grasp, given the necessary commitment and backing,” says Professor McGrath.
“Victoria is proud to be a research member of NERI and myself to be one of its trustees. Academics from across the University, including our computer scientists, Robinson Research Institute, School of Chemical and Physical Sciences and School of Architecture and Design, are conducting ground-breaking research to transform how the country’s energy is produced and used. This strategy gives them, other researchers around the country and those commissioning and funding research an important framework.”
The strategy highlights long-distance transport, both domestic and international, as one of the biggest medium-term issues facing New Zealand’s energy sector, noting that about half the country’s energy is used servicing transport needs and that long-distance transport uses the biggest share of that.
Given our physical isolation and distances to markets, long-distance transport is critical for trade and travel, says the strategy. But because it is fossil fuel intensive, it faces significant risks, with few simple alternative such as the electric vehicles available for short-distance transport.
Food and tourism export earnings are particularly vulnerable, says the strategy, with fossil fuels featuring large in their production and delivery.
However, says the strategy, there are opportunities to manage this risk.
Dr Nick Long, Director of the Robinson Research Institute, explores these and other opportunities in an article for the Newsroom website.
The Robinson Research Institute’s own research includes collaborating with international partners to develop the technology for long-range hybrid-electric aircraft and that for rapid electric vehicle charging.
Alongside transport, other key focus areas in the Energy Research Strategy are in industrial processing, electricity generation and distribution, and the residential sector.
Affordable and clean energy is the seventh of the United Nations’ 17 Sustainable Development Goals to be achieved by 2030.
Victoria was earlier this year the first New Zealand university to sign up to a new international initiative known as the University Commitment to the Sustainable Development Goals.
‘Enhancing the resilience and sustainability of our natural heritage and capital’ is one of Victoria’s areas of academic distinctiveness.
| A Victoria University release || November 17, 2017 |||
16 Nov 2017 - The International Energy Agency’s new forecast that demand for natural gas will increase 45% by 2040 is a major opportunity for New Zealand, says the Petroleum Exploration and Production Association of New Zealand (PEPANZ). “Global demand for natural gas is only going to grow because it has half the greenhouse emissions of coal. This means that producing and exporting it from New Zealand has the potential to be a win-win outcome for global emissions and for our economy,” says PEPANZ CEO Cameron Madgwick.
“The report clearly highlights the role natural gas can play in reducing emissions by replacing coal in industrial processes and power generation. This reinforces the need for new exploration and development of our natural resources, benefiting New Zealand and the world.
“Liquefied natural gas (LNG) is going to be a major growth industry and this is great news for New Zealand given our potential deposits.
“Much of the demand is likely to come from China, India and other Asian countries. Other nations are eager to meet this demand and by the mid-2020s the United States is projected to become the world’s largest LNG exporter.
“This is an export industry New Zealand can and should be a part of. It could mean more jobs, exports and earnings for the Government through royalties and taxes.
“Taranaki is the only region currently producing but we know other areas have great promise. The recent report by New Zealand Oil and Gas looked at the Barque prospect off the coast of Oamaru and predicted it could generate $32 billion in taxes and royalties for the Government over the life of the field.”
The International Energy Agency also forecasts that global oil demand will continue to grow to 2040. While fuel efficiency and electric vehicles will reduce use by passenger cars, other sectors such as trucks, planes and shipping will continue to drive demand.
30 Oct: The blockchain is becoming popular and useful not only in fintech and related industries. Decentralized and distributed ledgers are also now being used in ensuring security and fair trade in industries like energy, which now enables communities to achieve better energy efficiency, reduced carbon footprint, and even the potential to earn from their real properties/assets.
Individual power generatorsOff-grid energy generation is a concept that is continually growing both in popularity and capacity. In some cases, individuals or household owners who generate more energy than they consume can actually sell such surplus to power companies.
The growth of the private power generation ecosystem is also encouraged by the increasing awareness of renewable energy. Hence, owners of power generation systems like solar panels or windmills can store the generated energy when not in use as credits. These credits can be used when needed or sold to power companies when there is a surplus.
This industry is growing rapidly and the transaction processes are becoming more cumbersome and complicated. For instance, there is a growing push to make it harder for folks who generate renewable energy to sell it back to the grid. Opponents of net metering argue that people who generate their own electricity should pay the utility company for the privilege of using the grid.
These emerging bottlenecks, coupled with other technical issues qualifies the encroachment of the blockchain into this sector as a timely intervention.
Blockchain is enhancing energy tradingBlockchain applications are now being made available in the energy trading marketplace.
The inherent qualities of the blockchain such as transparency, security, immutability and most especially, its decentralized nature which allows for peer-to-peer transactions, makes it very suitable for a market such as power trading.
Such blockchain platforms allow for units of electricity to be tracked from the point of generation to the point of consumption. This process protects the interests of both energy generators and consumers by offering a transparent process where the actual value is delivered and paid for.
The current blockchain systems still depend on the existing energy grids that store the originally generated electricity before distribution to consumers, hence despite the decentralized nature of the blockchain, for now it is becoming part of the answer to updating and improving centralized, legacy systems with a distributed hybrid system made up of a patchwork of both large power plants and microgrids powered by distributed energy resources such as solar power. Such a decentralized energy system would be capable of delivering efficient, reliable, and, in many cases, renewable energy.
The future is hereHowever, it is predicted that in the near future, the Internet of Things (IoT) will enable billions of smart devices to sense, respond, communicate and share data. Those things will also have the ability to generate, buy and sell their own electricity.
The Internet of Things (IoT), which refers to smart machines, especially everyday appliances that can communicate with each other and fulfill tasks, appears to be the desired and impending future of the energy trading industry.
Considering the poor outlook ahead for the existing system, factors such as the aging grids, increasing load on the grids, wastage of power through the wholesale broadcast from the grid to homes and not targeted appliances, it becomes desirable for a time when smart appliances will take over and disrupt such systems.
Total decentralization will be achieved when equipment and appliances employ peer-to-peer interactions within the ecosystem, albeit in automated processes. This will eliminate the need for third parties, improve efficiency and avoid wasting energy by supplying to redundant appliances.
Challenges still need to be overcomeA future of smart machines and blockchain efficiency resembles the perfect description of bliss. However, despite the inherent security of the blockchain, there still exists the risk of individual nodes or users being hacked, especially with the nature of IoT, wherein each individual device can become a security risk.
Think for instance of a user holding a private key, but keeping it secure under weak passwords or a weak infrastructure. This could lead to the entire system — or at least that user’s assets — being compromised.
Hence there is a need to follow security best practices, which will include protecting critical infrastructures with firewalls and reverse proxies, as well as other measures like continuity/redundancy tools, adequate power supply, and a reliable network connection. Take note that as a distributed ledger mechanism, blockchains require the unanimous confirmation of all nodes to achieve consensus. Protecting blockchain, therefore means minimizing risks of the numerous attack vectors that include social engineering, brute force attacks, denial of service, scripting, and other similar threats.
Blockchain tech is now everywhereThis is evident in the springing up of smart cities around the globe like we are seeing in New York and Singapore. Even Nigeria’s commercial capital, Lagos is on its way to hosting Africa’s first smart city as its government earlier this year signed an investment deal with Dubai, the United Arab Emirates to build the city.
Apparently, blockchain in its own way is gradually encroaching into every aspect of human existence and changing the way we do things. From financial transactions to energy distribution, we continue to see how increasingly necessary and reliable the technology is becoming. Even in our eco/environmental sector, tracking the basic elements of nature such as trees and animals nearing extinction is a data management sector where the blockchain will definitely play an important role in sustaining the planet.
Blockchains may not appear like the perfect solution for mankind, but it surely broadcasts the hope for a brighter tomorrow.
Dennis Barnes, Chief Executive of Contact Energy is urging New Zealand Inc to move past debates on technicalities and act on the climate change challenge.
“As a country I firmly believe there’s a real opportunity for us to innovate, to work together and do more to tackle climate change and Contact is keen to play a key role”, says Dennis Barnes.
Contact agrees with the Parliamentary Commissioner for the Environment’s recommendations that depoliticising New Zealand’s response to climate change is a key step to be taken. Decisions on how we move to a lower carbon economy need to be made, with emissions targets and budgets, policy developed to help us get there and a Climate Change Commission set up to provide expert, independent and objective analysis and advice.
“Hope won’t help us deliver a low carbon economy, but a plan that ensures government agencies and businesses can work together on how to achieve targets would be a great step.”
Contact believes having a truly market-priced Emissions Trading Scheme, covering all sectors, all gasses and with the removal of existing caps and transition periods, will help spur the transition to a lower carbon economy.
“New Zealand is blessed with abundant renewable energy and we can use this to decarbonise the transport and manufacturing sectors, by increasing the use of electric vehicles and converting fossil fuel fired processes to low carbon electricity.”
“We are actively working with our energy-intensive business customers to help them identify opportunities to transition to flexible, efficient, low carbon energy solutions and welcome conversations with other organisations who are keen to be involved.”
Contact produces roughly the same amount of electricity as six years ago, but has reduced its emissions by 53% and its gas purchases by nearly 80%, by closing gas-fired generation, investing in new renewable energy production and innovating to deliver lower cost and more efficient electricity generation.
Contact is a strong supporter of electric vehicles and initiatives designed to increase their use in New Zealand and 25% of Contact’s own vehicle fleet is electric. Through technology trials across the country Contact is working with customers to truly understand the opportunities for customers in pairing solar energy, battery storage, smart hot water control technology with app-based real-time control. Contact’s market-leading Green Borrowing Programme was introduced in August 2017 allowing investors, for the first time ever, to have the opportunity to invest in certified Green Debt Instruments issued by a New Zealand company.
Contact has outlined its thinking on climate change opportunities in its submission today to the New Zealand Productivity Commission’s Low Emissions Economy Inquiry and in a short video featuring Contact Chief Executive, Dennis Barnes. A copy of Contact’s full submission can viewed on Contact’s website (www.contact.co.nz/aboutus/media-centre) and the video viewed via Contact’s YouTube channel (https://youtu.be/F8Z0v-8Te4w)
| A Contact Enerrgy release || October 2, 2017 |||
As Tesla races to deliver its grid and wind farm-connected 129MWh lithium-ion battery in time for South Australia’s coming summer, a much smaller-scale version of some of the same technology is set to be switched on at a salt manufacturing facility across the Tasman, on New Zealand’s South Island.
NZ utility business Vector Energy Solutions said on Monday that a 250kW/570kWh Tesla Powerpack would soon be switched on at Dominion Salt’s Lake Grassmere works, to store and smooth energy from the already installed 660kW wind turbine.
Integration of the wind turbine and Tesla battery storage system – believed to be an Australasian first – is expected to meet around 75 per cent of the site’s energy needs, minimising its use of the grid, and maximising security of supply in a region susceptible to earthquakes.
“We contacted Vector because we decided that battery storage was critical to our energy needs,” said Dominion Salt CEO Shane Dufaur.
“It’s incredibly important to have security of supply for the overall sustainability of the business. Given out location and the recent seismic events, we need to make sure that we’re not reliant 100 per cent on the grid.
“Vector produced a design that incorporates our renewable energy sources, the lake system and the plants, to optimise our uses of energy. Very importantly, it includes our 660kW wind turbine,” Dufaur said.
Vector Energy Solutions connects Tesla Powerpack to wind turbine from Vector Ltd on Vimeo.
“The solution Vector has created for Dominion Salt provides sustainability and resilience benefits to the salt producer,” said Vector’s group general manager for development, Brian Ryan.
“The Tesla Powerpack will help with peak shaving and load management while ‘firming or smoothing’ the often-intermittent energy generated by wind turbines.
“The addition of a 250kW battery storage system, storing up to 570kW-hours of energy, will allow Dominion Salt to maximise the use of its wind turbine and store any excess generation for use at other times,” he said.
“The control system, built specifically for Dominion Salt, will be remotely monitored, 24/7, to ensure it’s running optimally.”
Ryan said the new wind and battery system – at the intersection of technology and sustainability – offered viable alternatives to businesses with both green and commercial benefits.
He said Vector was pursuing other opportunities in New Zealand, Australia and the Pacific Islands to deploy both on-grid and off-grid battery storage systems.
| A OneStepofTheGrid release || August 7, 2017 |||
The Taxpayers’ Union can reveal that over $7 million of taxpayer money has been spent on the power bills of 94 of New Zealand’s largest companies since July 2014. The Energy Efficiency and Conservation Authority’s (EECA) ‘large energy users programme’ provides funding to businesses, in an attempt to encourage them to reduce energy use. Of this $7 million, more than $1 million has been wasted on 'initiatives' which haven't recorded any energy savings to date. Taxpayers’ Union Researcher, Matthew Rhodes says, “Taxpayer money doesn’t need to be spent telling the country’s largest power users to save power. All of these companies pay millions for power, and have every interest as it is to lower their energy use.” “If the EECA don’t think that the corporations at the big end of town aren’t looking at how electricity costs can be saved, they are delusional. Most of these corporates are buying electricity off the spot market or have hedging arrangements. They are anything but unsophisticated consumers requiring the help from bureaucrats.” “This whole regime is a little bit of a rort. Electricity users are levied so that officials can tell people to use less power, meanwhile, people rightly scratch their heads about why electricity is so expensive.”
"We asked how much money has been recovered from companies where taxpayers' money has been thrown at projects where the promised energy savings cannot yet be demonstrated, and it appears that not a single dollar has been recovered." “At best, it’s a waste of money and pointless, at worst, it is corporate welfare in an environmental jacket, paid for by kiwis who have to pay more to turn on their heater.” A response to the Official Information Act request shows:
A total of $7,086,004 has been paid to companies since July 2014, up until the 21 March 2017 (the date of release by EECA).
The largest payment was made to ANZCO Foods Limited, who had received $668k since their partnership with EECA began in 2012.
Around $1.1 million of funding has been delivered to corporations who had not recorded any energy savings to date.
Under the large energy users programme, the country’s largest energy users can enter into an agreement with EECA to enter co-funded projects, with up to 40% provided by EECA, which aim to reduce the company’s energy use and emissions.
More information can be obtained on EECA’s website: https://www.eecabusiness.govt.nz/funding-and-support/support-for-large-energy-users/
Volvo Cars has announced that every Volvo it launches from 2019 will have an electric motor, marking a historic shift from cars with only internal combustion engines (ICE) and placing electrification at the core of its future business.
The announcement represents a significant move to embrace electrification and highlights an emerging chapter in automotive history.
“This is about the customer,” said Håkan Samuelsson, Volvo president and CEO. “People increasingly demand electrified cars and we want to respond to our customers’ current and future needs. You can now pick and choose whichever electrified Volvo you wish.”
Volvo will introduce a portfolio of electrified cars across its model range, embracing fully electric cars, plug in hybrid cars and mild hybrid cars.
The company will launch five fully electric cars between 2019 and 2021, three of which will be Volvo models and two of which will be electrified cars from Polestar, Volvo’s performance car arm. Full details of these models will be announced at a later date.
The decision follows this month’s announcement that Volvo Cars will turn Polestar into a new separately-branded electrified global high performance car company.
Volvo has also stated that it will offer a range of petrol and diesel plug-in hybrid and mild hybrid 48-volt options on all models. Although this means Volvo hasn’t committed to going fully electric, it does indicate that pure ICE cars will be gradually phased out and replaced by ICE cars with electrified options.
“This announcement marks the end of the solely combustion engine-powered car,” said Samuelsson. “Volvo Cars has stated that it plans to have sold a total of 1m electrified cars by 2025. When we said it we meant it. This is how we are going to do it.”
Energy and Resources Minister Judith Collins has today released the New Zealand Energy Efficiency and Conservation Strategy 2017-2022.
The Strategy, Unlocking our energy productivity and renewable potential, is a companion to the New Zealand Energy Strategy 2011-2021. It sets the overarching direction for Government and specific actions for the promotion of energy efficiency and renewable sources of energy.
Ms Collins says the goal of the Strategy is for New Zealand to have an energy productive and low emissions economy.
“Through this Strategy, we are encouraging businesses, individuals, and public sector agencies to take actions that will help New Zealand make the most of its clean, renewable energy sources and use energy more productively, which will benefit all New Zealanders,” says Ms Collins.
The Strategy focuses on three priority areas that will provide the most cost-effective opportunities for energy savings and emissions reductions for New Zealand: process heat, transport and electricity.
“Importantly, the targets are measurable, reasonable and practicable by 2022, and the Strategy includes a range of actions to help achieve them including the development of a new process heat action plan.
“The Strategy also works in conjunction with the Energy Innovation Bill and other Government policies and programmes, including the Electric Vehicles Programme.
“It is designed to provide clear direction for the energy sector over the next five years and will move New Zealand towards better energy productivity and lower emissions. I would like to thank all those who took the time to make written submissions on the Strategy earlier this year,” says Ms Collins.