New liquified natural gas terminal: 'Vital' or 'bonkers'?

The government wants taxpayers to pay for a new liquified natural gas import terminal, but is promising lower power prices will come as a result.

It is estimated the new terminal, expected to be ready next year at the earliest, will save New Zealanders around $265 million a year by reducing price spikes and lowering the risk premiums.

But a new levy will be charged to get it built.

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