WELLINGTON, Oct. 9 (Xinhua) -- More than two-thirds of New Zealand businesses are concerned about current and future energy costs, with nearly one-third having raised prices because of energy costs or supply uncertainty, a survey found.
The survey of 406 business leaders found seven in 10 businesses considered energy a major or actively managed cost, while the same proportion reported higher energy costs than two years ago, according to a survey released by New Zealand's ASB Bank on Thursday.
One in five businesses had reduced production, working hours or output because of energy challenges, the survey found.
Despite 64 percent of respondents believing their businesses were well equipped to operate through a prolonged power outage, only 37 percent expected they could continue operating for more than three days if their primary energy source failed, the findings showed.
Another 28 percent had identified energy as a risk but had no plan to address it, according to the survey.
ASB Executive General Manager of Corporate Banking Jonathan Oram said businesses need to treat energy as a strategic issue rather than simply an operating cost, citing rising energy costs and potential supply disruptions amid declining domestic gas reserves, the Middle East conflict and global political uncertainty.
Advances in solar power, battery storage and electric vehicles offer opportunities to improve energy efficiency and cut business energy costs by up to 20 percent, the survey said. ■
