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Story summary
- The government launched the Gas Transition Loan Guarantee Scheme, offering up to $1.2 billion in loans to shift businesses away from gas.
- Finance Minister Nicola Willis said rising energy costs have forced some gas-dependent manufacturers to close.
- The scheme includes a $48 million reserve in the 2026 budget to cover potential loan losses.
- Energy Minister Simeon Brown allocated $5.9 million to the Energy Efficiency and Conservation Authority to aid business transition options.
