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

 

Wholesale electricity prices double in February

7 April 2005

Wholesale electricity prices double in February

An increase in daily demand in February, below average hydro inflows, planned generation plant outages and environmental impact limitations on generation resulted in average wholesale market prices more than doubling over the month.

Average monthly prices at the Haywards, Otahuhu, and Benmore reference nodes in February were all more than double their respective figures for January. The average Haywards prices increased to 7.31c/kWh in February from 3.12c/kWh in January and Otahuhu prices increased to 8.02c/kWh from 3.46c/kWh respectively. The monthly average price at Benmore increased from 2.85c/kWh in January to 6.50c/kWh.

The Taranaki Combined Cycle (TCC) generating plant at Stratford was removed from service for planned maintenance on 03 February 2005. It is scheduled to resume generation in March. Generation at Huntly was restricted at times in February by an environmental resource consent limiting the amount of cooling water that could be released into the Waikato River.

Flows over the HVDC inter-island link were restricted in February, originally to the standing limit of 870MW and then from 17 February to an increased limit of 886MW. During the month these limits were often binding, sometimes resulting in noticeable price separation between the North and south Islands.

Daily demand during February 2005 was at a higher level than that recorded during January 2005 and January 2004. Average daily demand in February 2005 was 100.6GWh compared to 93.9GWh in January and 96.9GWh in February 2005.

Hydro inflows in February were 93% of average for the month and at 28 February total national storage stood at 106% of average for that time of the year. Inflows of over 200% of average were recorded on the 11th and 12th of February. These inflows resulted in national storage rising to 112% of average on 13 February before decreasing throughout the rest of February to the month end figure of 106% of average.

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

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>