Todd Energy

Contribution to the economy

Todd Energy is a major and growing contributor to the Taranaki and national economies. In conjunction with our retail brand, Nova Energy,  we meet the energy needs of a large number of New Zealand households and businesses,  employ many New Zealanders and make a substantial contribution to GDP.  

Todd Energy and our retail brand, Nova Energy, supply electricity and natural gas to many thousands of households and businesses around New Zealand, ensuring ready access to affordable, reliable, safe, clean energy.

A reliable supply of natural gas from our Mangahewa field has enabled Methanex to restart the second methanol train at its Motunui facility, north of New Plymouth.

Todd Energy employs staff from a wide range of professions, including oil and gas exploration, accounting, law, and energy trading. We also engage many specialist contractors, including oilfield services providers, builders, engineers and truck drivers.

Nationally the oil and gas sector contributes $2.2 billion to GDP annually and provides 6,000 jobs. Labour productivity per worker for direct industry jobs in Taranaki is $525,000, more than five times the national average. In Taranaki, where most exploration and production activities take place, the sector is responsible for 32% of regional GDP. New Plymouth is New Zealand’s fastest growing city.

The government expects to receive $2.1 billion in royalty payments from the oil and gas industry for the five years from 2008/09 to 2012/13, including $375 million in the current year. Company and other taxes add to these figures significantly. For example, it is estimated that the government received a total of $1 billion from the oil and gas sector in the 2009/10 year.