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


Electricity Prices Increase Because of Low Rainfal

Low hydro lake levels and power stations halting generation for routine maintenance contributed to an increase in average wholesale electricity prices last month.

Monthly average prices at the two locations used as reference points increased substantially in March. Benmore, the South Island reference point reported a considerable increase in the average monthly price to 5.02 c/kWh, up from 4.38 c/kWh in February. The price at the lower North Island reference point of Haywards also recorded an increase to 5.18 c/kWh from the previous month’s figure of 4.63 c/kWh. The average price at Otahuhu (used as a reference for the upper North Island) rose slightly to 5.29 c/kWh from 5.01 c/kWh.

Storage levels declined in March due to below average inflows into the main hydro lakes, however towards the end of the month major rainfall into the southern hydro lakes improved lake levels. At the end of March, national storage was at 2,735 GW/h, which is 86% of the average for this time of year and South Island storage was at 88% of average.

The dwindling lake levels throughout most of the month continued an unusual trend where the North Island supplied the South Island with small amounts of electricity in early morning periods.


For further information, please contact
Malcolm Alexander, General Manager Market Services
Ph 04 473-5240 (bus)

© Scoop Media

Business Headlines | Sci-Tech Headlines


Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>


Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>


Talking Up The Economy: NZD Gains On PM's Mistaken GDP Comment

Her comments were downplayed by her chief press secretary who said she was referring the government's June year financial statements and had "made a mistake." More>>