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

 


Electricity prices reach record lows in February


Electricity prices reach record lows in February

Electricity prices fell to historically low levels in February 2004. The average monthly prices at each of the three reference nodes were the lowest since the wholesale market began in October 1996. On 22 February, the average price at Haywards was 0.04c/kWh, the lowest daily average price recorded at Haywards since market start. Prices were also very consistent throughout the month, for example the average daily price at Otahuhu was below 2.50 c/kWh for all but two days.

The low prices reflected the strong inflows into key catchments which led to above average hydro storage levels throughout the country. February's inflows totalled 3107 GWh, 142% of average for the month. On 1 February, storage was 3695 GWh. By month's end storage had increased to 4177 GWh, 134% of average.

The average price for February at the Haywards reference node was 1.36 c/kWh, down from January's average of 6.96 c/kWh. The average price at Benmore, the South Island reference node, was 1.05 c/kWh in February compared with 4.91 c/kWh in January. Prices at Otahuhu, a typical upper North Island reference node, decreased to an average of 1.61 c/kWh in February from 7.58 c/kWh in January.

Average daily demand in February 2004 was 96.922 GWh, a 1.6% increase on January's level of 95.600 GWh. The average daily demand in February 2003 was 97.686 GWh.

For more information on electricity prices and hydrological conditions, visit: http://www.comitfree.co.nz/ or http://www.nzelectricity.co.nz/

© 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