Electricity Prices Spike In March Quarter

Prices paid by electricity and gas supply producers rose 28.7 percent in the March 2021 quarter, while prices they received for production increased 17.4 percent, Stats NZ said today.

“Lower lake levels in the South Island have driven up wholesale prices for electricity generation, while an unexpected fall in production at the Pohokura gas field has seen gas supply prices also increase,” business prices delivery manager Bryan Downes said.

“The quarterly price change is the largest since 2018 but is nowhere near the magnitude seen in the 2008 power crisis.”

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