One day after the world's leading climate scientists told us we're tipping towards climate tipping points - the fossil fuel lobby is using the cost of living crisis to argue against rapidly investing in renewable power generation.
Energy Resources Aotearoa, formerly known as the Petroleum Exploration and Production Association, this morning released a report written by Castalia, which says New Zealanders could pay an extra $7 billion on their power bills over 12 years.
That compares to the more-than the estimated $13 billion in damage from Cyclone Gabrielle, which scientists know was stronger and wetter thanks to climate change.
The Government is working to publish its Gas Transition Plan by the end of this year.
Energy Resources Aotearoa chief executive John Carnegie spoke to Kim Hill.
