Prime Minister John Key is squarely blaming the Pike River Coal Company for the disaster that killed 29 West Coast workers two years ago.

But he has accepted some responsibility by the Government regulator of health and safety, formerly the Department of Labour, saying it deluded itself it was doing things properly.

"In the end, it's as simple as this," Mr Key said at his post-Cabinet press conference after the release of the Royal Commission of Inquiry into the disaster.

"The company completely and utterly failed to protect their workers. And as a result of that, they were put in undue risk and an explosion took place that killed people."

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