As director of advocacy Catherine Beard told RNZ: "The reason it's getting expensive is because there's not enough of it. So if we actually free up a bit for those that you know can't move for maybe 10 years, then we think the transition will go a lot better."

We concur.

She said the $200 million the government set aside for co-investment in oil and gas exploration was unlikely to be used and could help fund the loans.

"Businesses faced a cost barrier in switching from gas to other energy sources, so interest-free or concessionary loans from the government could help."

Around one third of businesses that use gas could switch economically now. Another third would need some help, perhaps with something like these loan schemes. And another third has limited options to switch. But the more businesses we can switch, the more of the shrinking gas pie will be left for those that need it.

We should not be buying a lottery ticket and hoping we find more oil and gas. We should instead be helping businesses electrify and then ensuring we create the cheapest possible electricity. That is a massive productivity opportunity for New Zealand and, as other countries with very cheap electricity have found, it could also help reverse the deindustrialisation we're currently seeing and attract more businesses here.

"If I had a political legacy, I wouldn't be happy to have have boosted energy supply and forgotten about the demand side - and there's no point in having this energy in the future if there's no one left to use it."

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