Low inflows influence electricity price in April

Friday, 14 May 2004, 9:57 am
Press Release: M-Co

Low inflows influence electricity price rises in April

Total inflows for April were 70% of the average for the month. As a result, national storage levels decreased steadily from 3,851 GWh on 1 April to 3,331 GWh on 30 April. By month's end, storage was at 112% of average for the time of year, a 14% decrease from 31 March 2004.

The lower hydro storage levels resulted in fewer northward transmission flows across the inter-island link than in the previous month. During early-morning non-peak times, inter-island transfers in April were often southwards.

The average price for April at the Haywards reference node was 4.63 c/kWh, up from 2.97 c/kWh in March. The average price at Benmore, the South Island reference node, increased from 1.04 c/kWh in March to 4.42 c/kWh in April. Prices at Otahuhu, the upper North Island reference node, increased to an average of 4.57 c/kWh for April from 3.39 c/kWh in March.

At 17.30 on 24 April, a transmission constraint restricted flows into the Tauranga area. As a result of this constraint, provisional prices in the area rose to approximately 8.00 $/kWh. The Electricity Commission has suspended publication of final prices for this period while it investigates an alleged undesirable trading situation.

The average April daily demand of 103.3GWh was 2.5% higher than the previous month's figure of 100.8GWh.

ENDS

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