ASB Survey Finds Energy Costs Now Shaping Prices And Hiring

Nearly a third of firms have raised prices because of energy costs, while far fewer than expected could keep running through a prolonged outage.

By Newsroom NZ Business Desk

Thu, 8 October 2026

Office workers used to illustrate a business energy survey.

Energy has become one of the top two concerns for New Zealand businesses, according to an ASB survey of more than 400 business leaders carried out with Talbot Mills Research.

More than two-thirds said they were concerned about current and future energy costs. Seven in ten described energy as a major or actively managed cost, and a similar share said their costs had risen over two years.

The impact is reaching customers and staff: 31% had raised prices because of energy costs or supply uncertainty, 20% had cut production, hours or output, 18% had delayed or scaled back expansion and 16% had delayed hiring.

The survey also found a preparedness gap. While 64% believed they were well equipped for a long power outage, only 37% expected to keep operating for more than three days without their main energy source. A further 28% had identified energy as a risk but had no plan.

ASB pointed to declining domestic gas reserves, conflict in the Middle East and global uncertainty as drivers, and urged firms to treat energy as a strategic issue rather than a routine operating cost.