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

 


Electricity Prices Climb

10 July 2001


Average wholesale electricity prices climbed markedly in June, reflecting continued high demand and prolonged periods of below average rainfall into the country’s main hydro lakes. Demand for electricity in June was around 4.7% higher than this time last year and around 4.8% higher on average than in May.

While national hydro storage levels increased during June, this was predominantly due to the conservation of water in the main hydro lakes rather than their replenishment through high rainfall. At the end of the month national storage was at 1,970 GW/h, 77% of the average for that time of year, with South Island storage at 85% of average.

Intermittent periods of rain during the month saw some South Island hydro lake levels increase. However, the larger lakes did not benefit significantly from wet spells. Lakes Tekapo and Pukaki, which account for around 60% of New Zealand’s total storage capacity for hydro-electric generation, recorded storage levels of 49% and 51% respectively at the end of the month.

The capacity of the transmission lines transporting electricity down to the Wellington region was increased in mid June. This eased line constraints in the area and allowed more electricity to flow through to the South Island, helping to lower wholesale prices toward the end of the month.

The average monthly price at Benmore, the South Island reference point, more than doubled in June to 16.97 c/kWh, up from 7.45 c/kWh in May. The lower North Island reference point at Haywards recorded a similar price increase to 16.61 c/kWh, up from May’s figure of 7.55 c/kWh. The average price at Otahuhu, the reference point for the upper North Island, also rose to 14.90 c/kWh from 7.39 c/kWh in April.
-ends-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news