Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

September Electricity Prices Similar To August

Average wholesale electricity prices in September were similar to those reported in August, however prices spiked slightly higher in the middle of September and trended down at the end of the month.

Prices were high in mid-September because transmission lines neared maximum capacity between Tokaanu and Whakamaru and on the HVDC linking the North and South Islands. In particular, high prices in the upper North Island occurred during peak periods because of transmission constraints.

Prices fell towards the end of September due to increased inflows into the hydro lakes of both islands. During the month the wholesale price was lowest in the South Island, where an above average level of water in the hydro lakes, combined with above average inflows, resulted in prices substantially lower than those recorded in the north of the country.

Benmore, the South Island reference point, recorded an average monthly price of 3.01 c/kWh in September. In contrast, the average monthly price for Haywards, the lower North Island reference point was 3.38 c/kWh, and prices were even higher in the top half of the North Island, which recorded 4.68 c/kWh.

At the end of July, South Island storage was 2,506 GWh, 158% of the average for this time of year. National storage was at 2,804 GWh, which is 134% of the average for this time of year.

-ends-

For further information, please contact
Philip Bradley, Chief Executive
Ph 04 473-5240 (bus), 025 916-186 (mobile)
Prices represent the North Island reference point, Haywards, and the South Island reference point, Benmore


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>