ACT's new energy policy is being praised as a helpful solution for New Zealand's future.

The party has reiterated its pledge to overturn the ban on oil and gas exploration, and revealed it will scrap the Lake Onslow pumped hydro project.

ACT is also campaigning on cutting red tape for offshore wind power projects - and bringing in a regulatory framework for carbon capture technology.

Energy Resources Aotearoa chief executive John Carnegie says ACT's policy announcement takes New Zealand a step closer to affordable energy.

"We only need to look over the ditch at Australia- their standard of living is proof of what can be achieved if countries utilise resources to create jobs and abundant, low-cost and resilient energy."

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