By the same word recalls the first part of verse 5, hence Good News Translation “by the same command of God.” As noted in the discussion of verse 6 above, the three verses (5-7) may have God’s word as the common element. If, however, verse 6 is made to refer only to water, then the three verses will be related in a different way: word … water … word, which is what is called a chiastic pattern. The idea seems to be that, since God’s word has been proven as powerful and trustworthy in the act of creation, this same word can also be trusted when it proclaims that in the future the universe will be destroyed by fire.
The heavens and earth that now exist refers to the universe as it is at present, with now denoting the time of writing the letter. In the Bible heavens and earth can sometimes be taken as an idiom meaning “everything,” “the whole universe,” “all creation.”
Stored up for fire is unusual, since the word translated stored up is usually used for storing goods, treasures, and other valuable things, which are for use at a future time. For can also be interpreted as instrumental, “by means of” or “with”; but it is much more likely that for here defines purpose: the universe is being kept from destruction now (Good News Translation “preserved”), so that in the future it can be destroyed by means of fire. (See New English Bible “kept in store for burning,” and Translator’s New Testament “have been saved up … they will be burnt.”)
The idea of destruction by fire is found only in this passage and nowhere else in the New Testament. This has led some scholars to trace the background of this idea from non-biblical literature (Iranian or Stoic). However, the Old Testament does contain references to judgment by fire, not to destroy the universe but to punish the wicked (see, for example, Deut 32.22; Psa 97.3; Isa 30.30; 66.15-16; Mal 4.1 [3.19 in the Hebrew]). This is echoed in many parts of the Gospels (for instance, Matt 3.11; 5.22). In Jewish literature of the apocalyptic type, the Old Testament idea of judgment by fire has been developed into a picture of universal conflagration that will usher in the end of the world.
The two ideas of the punishment of the ungodly and the destruction of the world by fire are combined in the present verse. The day refers to the final day of judgment. The purpose of judgment is not to determine whether the ungodly are guilty or not, but rather to carry out the punishment that they deserve. For comments on judgment see Jude 15. Destruction is the result of such judgment: people will be punished to such an extent that they will be completely destroyed. For comments on destruction see 2.1, 3. For comments on ungodly see 2.5 and Jude 4.
An alternative model for this verse for languages that do not favor the passive is the following:
• But God is keeping (or, preserving) by that same command the heavens and earth that now exist, in order to destroy them with fire. He is keeping them for the day when he will judge and destroy people who don’t obey (or, honor) him.
Quoted with permission from Arichea, Daniel C. and Nida, Eugene A. A Handbook on The Second Letter from Peter. (UBS Handbook Series). New York: UBS, 1980. For this and other handbooks for translators see here .