Hydro volumes boost Mighty River Power generation by 27%

Extra hydro volumes boost Mighty River Power generation by 27%

Mighty River Power's total electricity generation for the three months to 30 June 2011 was up 27% on the prior comparable period, with continued strong geothermal output and increased hydro generation.

Generation from renewable sources increased by 445GWh to 1752GWh, making up 98% of the total. This is consistent with the overall increase in renewable generation as a % of New Zealand's electricity generation, largely as a consequence of investment in base-load geothermal in recent years.

Hydro generation was 1190GWh for the quarter, up 58% increase on the prior comparable period. This was largely driven by very wet weather conditions in the Lake Taupo and Waikato River catchments, compared with drought conditions in the previous year.

Gas fired co-generation during the period was down 65% to 33GWh (about 2% of total generation), reflecting the lower spot wholesale electricity prices due to national hydro storage being significantly above average. This resulted in Mighty River Power's carbon emissions dropping by 22% compared with the same period in 2010.

Mighty River Power's total electricity sales to residential and commercial customers were down 5% on the prior comparable period from 1792GWh to 1710GWh, due to a combination of strong competition in the sector, the impact of the Christchurch earthquake and warmer than usual conditions reducing seasonal demand.

ENDS

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