The Government has unveiled a raft of new measures set to ease the nation's energy security crisis.

Cabinet has agreed to cut regulation stopping New Zealand bringing in foreign Liquefied Natural Gas in order to ease power bills.

It will also speed up overturning a ban on oil and gas exploration - and will review the electricity market's performance.

Enerlytica Head of Research John Kidd says the impacts from undoing the ban on oil and gas exploration will take a while.

"Exploration is a years - sometimes decades - type horizon. It's not going to be something you'll see come back in just a year or two or even three."

LISTEN ABOVE