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

 


Spring Brings Higher Lake Levels & Lower Prices

11 December 2001

Media Release from M-co, NZEM Market Administrator

Spring Brings Higher Lake Levels & Lower Wholesale Electricity Prices

Spring has arrived in the electricity market. Above average rainfall and considerable snowmelt in late November and early December refilled the hydrological lakes. This, in combination with warmer spring temperatures, helped drive wholesale electricity prices down to levels unseen since the start of 2001.

Storage increased from 55% of the national average at the end of October to 77% at the end of November. By 10 December, lake levels had reached average levels for the first time since January, with national storage totalling 2,941 GWh.

The average half-hour wholesale electricity price for the South Island reference point, Benmore, was 4.20 c/kWh in November, down from 4.86 c/kWh in October. Haywards, the North Island reference point recorded 4.35 c/kWh, a decrease from 4.90 c/kWh the previous month. Otahuhu, often used as an indicator of upper North Island prices, recorded 4.59 c/kWh in November, down from 4.80 c/kWh.

During much of this year the North Island has had to meet some of the South Island's demand for electricity, meaning that electricity was transferred over the HVDC cable between the islands in a north to south flow. December was the first month that this did not occur since March 2001.

Other events of interest during November that influenced the wholesale electricity price included the outage of Contact Energy's Otahuhu B power station for routine maintenance.

-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