Fuel Industry (Improving Fuel Resilience) Amendment Bill

on behalf of the Minister of Energy and Resources: I move, That the Fuel Industry (Improving Fuel Resilience) Amendment Bill be reported to the House by 10 August 2023 and that the committee have authority to meet at any time while the House is sitting (except during oral questions), during any evening on a day on which there has been a sitting of the House, and on a Friday in a week in which there has been a sitting of the House and outside the Wellington area, despite Standing Orders 193, 195, and 196.

It is important that this bill is passed quickly with shortened select committee and report-back periods. Fuel resilience is clearly a significant matter as it is essential to keep our people connected and our businesses running. Recent jet fuel issues in Auckland late last year and Wellington earlier this year have highlighted the importance of having a resilient and robust fuel supply chain and the impact that a disruption can have on the wider economy. We need to provide assurance to fuel consumers that the fuel companies are managing their fuel stocks and supply chains properly.

The insight that this bill affords the Government over fuel company stockholdings is critical for providing that assurance that consumers need. The stockholding itself is another critical aspect that serves to provide customers with added reassurance that when an incident affecting fuel supplies occurs, there will be adequate fuel stocks in New Zealand to manage the incident. The bill is a key tool for the Government to keep clear oversight of the fuel companies’ stockholding levels and contingency plans and it should be passed as quickly as possible.