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June Sees Fall In Wholesale Electricity Price

Average wholesale electricity prices in June fell over the month in comparison with prices in May.

A feature of the price in June was a clear demarcation in the prices for the upper North Island with the rest of the country – the average price for Otahuhu (an upper North Island grid point) was 4.85 c/kWh. Contributing to this demarcation were constraints in parts of the national grid, particularly above Lake Taupo.

In contrast the average monthly price for Haywards, the North Island reference point, was 3.81 c/kWh, a fall from 4.10 c/kWh in May. Benmore, the South Island reference point, also recorded a decrease in price to 3.49 c/kWh from 3.86 c/kWh in May.

At the end of June national storage was at 3,503 GWh, 138% of the average for this time of year. South Island storage was 3,266 GWh, which is 152% of average.

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