New Zealand Energy Monetary Stock Account (1987 - 2001)

The New Zealand Energy Monetary Stock Account (1987 - 2001) presents the environmental asset value of energy resources in New Zealand. The country’s energy resources include non-renewable resources (coal, gas, and oil) and renewable energy resources (biogas, biomass, geothermal energy, hydro energy, solar energy, and wind energy).

This report focuses on the concepts and methodology used to derive the energy stock estimates, and the stock tables themselves. The monetary stock accounting methodology gives a short description for each of the components used to produce the account. The asset values of nonrenewable and renewable energy stocks are presented as balance sheets, with opening and closing stocks, and stock change. These balances are provided as an annual time series and can be used to analyse trends in utility and asset value of New Zealand’s energy resources. New Zealand’s renewable (excluding heat generation) and non-renewable energy resources are valued using a Net Present Value (NPV) method, which attempts to estimate the ‘market value’ of energy resources. This is recommended by the System of Environmental and Economic Accounting (SEEA) and is used internationally for non-renewable energy resource valuation. As far as can be determined, this methodology has not previously been extended to valuations of renewable energy resources.

Highlights of the report include:

• Statistics New Zealand has extended the SEEA methodology to produce asset valuation for renewable energy resources (electricity generation only).
• The total estimated asset value of New Zealand’s energy resources is $7,521 million fo the year ended March 2001.
• Of the total asset value, $2,547 million is for renewable energy and $4,975 million is for non-renewable energy.
• Gas is New Zealand’s most valuable energy resource, valued at $2,803 million in 2001.
• Hydro is the next most valuable energy resource, valued at $2,190 million.
• Natural resource asset values for other renewable energy resources used for electricity generation are geothermal ($262 million), wood ($35 million), and biogas ($59 million).
• Crude oil stocks have a natural resource value of $1,310 million and coal stocks have a value of $862 million.

Statistics New Zealand also produced the New Zealand Mineral Monetary and Physical Stock Account for the same time frame, presenting the asset value of minerals in the country.