More government cash for the three Crown-controlled gentailers

That's the biggest change to come from this morning's energy announcement - alongside plans for a new LNG import facility.

Energy Minister Simon Watts says a report concluded sector players weren't confident they could ask the Government for money to fund new generation projects.

He says increasing capital - and creating an LNG backstop for dry years - will help the market.

He says some of the changes will have an immediate effect - and he guarantees his Government's actions will put downward pressure on prices Kiwis pay.