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

 


Rainfall provides respite in May


Rainfall provides respite in May

Average wholesale electricity prices fell considerably during May as a result of an improving hydrological situation, the Target 10% savings campaign and the return to service of a key thermal power station (the Taranaki Combined Cycle thermal power station resumed generation on 17 May).

The average half-hour wholesale electricity price for the South Island reference point, Benmore, decreased significantly to 12.64 c/kWh in May, down from 19.91 c/kWh the previous month. Haywards, the North Island reference point, recorded 12.76 c/kWh, a decrease from 20.41 c/kWh in April. Otahuhu, an indicator of upper North Island prices, also decreased considerably, reducing to 12.25 c/kWh from 20.22 c/kWh in April.

Average daily power consumption was 95,480 megawatts during May, which was 6% lower than demand levels in May 2002. The Target 10% savings campaign, introduced by the Winter Power Taskforce, and unseasonably mild temperatures have helped keep demand levels low. The May national average temperature of 11.6°C was 1.1°C above normal, the warmest since May 2000 (source: NIWA).

Inflows into the major hydro catchment areas in May were well above average, with total inflows at 115% of the average. Total New Zealand storage also improved, from 61% of average on 1 May to 80% on 31 May.


© 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