Wholesale electricity market summary: 18 July 2004

Media fact sheet Wholesale electricity market summary for the week ending 18 July 2004

Spot Market Daily Average Reference Point Prices 0.00 2.00 4.00 6.00 8.00 10.00 20 Apr 5 May 20 May 4 Jun 19 Jun 4 Jul

Price (c/kWh) Otahuhu Hayw ards Benmore 11-Jul 12-Jul 13-Jul 14-Jul 15-Jul 16-Jul 17-Jul 18-Jul Sun Mon Tue Wed Thu Fri Sat Sun

Daily Average Reference Price (c/kWh) Otahuhu 2.47 7.67 3.67 3.14 2.83 2.89 1.96 0.83 Haywards 2.24 7.01 3.34 2.89 2.57 2.61 1.81 0.77 Benmore 1.85 2.75 2.67 2.64 1.92 1.93 1.68 0.69

M-co Electricity Price Index (c/kWh) New Zealand 2.23 2.86 3.14 3.37 3.54 3.54 3.19 3.01

The M-co Electricity Price Index is a demand weighted seven-day rolling average that smoothes out price volatility distortions. The wholesale electricity price differs from the retail electricity price, which is the price domestic consumers see on their electricity bill.

The wholesale price is only one of the factors that influence retail prices. The Marketplace Company Limited Level 2, Wool House, 10 Brandon Street, PO Box 5422 Wellington, New Zealand Telephone +64-4-473 5240 Facsimile +64-4-473 5247 Home Page http://www.m-co.co.nz Email info@m-co.co.nz page 1 of 2 11-Jul 12-Jul 13-Jul 14-Jul 15-Jul 16-Jul 17-Jul 18-Jul Sun Mon Tue Wed Thu Fri Sat Sun

NZ Demand (GWh) Total 103.3 117.5 119.8 118.3 116.1 116.7 106.6 102.8 7 days ago 103.0 118.4 115.2 115.6 117.2 118.7 106.9 103.3 14 days ago 100.6 110.5 115.8 116.3 114.9 115.2 104.5 103.0 7 Day Change 0.3% -0.7% 4.0% 2.3% -1.0% -1.8% -0.3% -0.4% 14 Day Change 2.6% 6.4% 3.4% 1.7% 1.0% 1.3% 2.1% -0.1%

NZ Generation Output (GWh) NI Hydro 26.0 28.6 28.7 27.8 27.7 28.9 27.7 31.1 NI Other 25.8 33.9 36.2 36.6 34.6 34.0 29.1 27.4 SI Hydro 54.1 57.9 58.0 56.8 56.5 56.6 52.0 46.3 Total 105.9 120.5 122.9 121.2 118.8 119.5 108.8 104.8 Inter-Island Transmission Transfers (GWh) South to North 14.6 14.1 15.0 13.6 14.5 14.6 11.5 6.7 North to South 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2

Hydrology (GWh) Storage 3588 3551 3512 3478 3478 3463 3444 3453 % of average 142% 141% 140% 139% 139% 139% 139% 140% Inflows (GWh/day) 49 46 45 48 46 61 66 103 % of average 88% 83% 82% 88% 83% 112% 121% 188%

ENDS

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