"It is the key to increasing our national wealth."
The awards will be held at the Langham Auckland on August 12 with winners for each of the 10 categories announced that evening.
The categories include innovation in energy, energy project of the year, energy and young energy executive of the year.
Toby Stevenson, the chairman of the judging panel, said the standard of the entries was high.
"The record number of entries received this year is a true testament to the excellent stories to be told about companies and individuals working in energy-related activity in New Zealand," Stevenson said.
"We appreciate the effort that goes into preparing an entry and wish to thank all those that entered this year. We are delighted to announce finalists today and wish them well on the night."
Two new categories have been added this year - community initiative of the year and large energy user initiative of the year.