News

Both the FPVV and CFD sub-indexes rose sharply this month, and the main index jumped almost 16% as a result. Hardly surprising, given the seemingly inexorable upward movements in spot and futures prices.

Average prices increased by 2.6% at Benmore, increased by 2.9% at Islington, increased by 2% at Haywards and increased by 1.3% at Otahuhu over the last week. Total Storage decreased to 2,458 GWh. NI storage decreased by 8 %  to 313 GWh while SI storage decreased by 4% to 2,145 GWh.

 Total storage decreased 122.7 GWh over the last week. South Island controlled storage decreased 1.8% to 1,842 GWh; South Island uncontrolled storage decreased 17.1% to 304 GWh; with Taupo storage decreasing 7.7% to 313 GWh.

Prices yesterday averaged $160 at Benmore and Haywards, and $165 at Otahuhu. Wind generation averaged 466 MW.

Average prices decreased by 10.9% at Benmore, decreased by 11.1% at Islington, decreased by 11.6% at Haywards and decreased by 11.9% at Otahuhu over the last week. Total Storage decreased to 2,581 GWh. NI storage decreased by 8 % to 339 GWh while SI storage decreased by 1% to 2,242 GWh.

Spot price averages exceeded $145/MWh yesterday. Wind generation averaged 322 MW. 

 Total storage decreased 57.2 GWh over the last week. South Island controlled storage increased 0.7% to 1,876 GWh; South Island uncontrolled storage decreased 10% to 366 GWh; with Taupo storage decreasing 8.2% to 339 GWh.

Average prices increased by 32.8% at Benmore, increased by 34.3% at Islington, increased by 33.1% at Haywards and increased by 32.4% at Otahuhu over the last week. Total Storage decreased to 2,638 GWh. NI storage decreased by 9 % to 369 GWh while SI storage decreased by 3% to 2,269 GWh.

Spot price averages exceeded $303/MWh yesterday. Wind generation averaged 327 MW. 

Spot price averages exceeded $248/MWh yesterday. Wind generation averaged 67 MW. 

Prices yesterday averaged $138 at Benmore, $142 at Haywards, and $143 at Otahuhu. Wind generation averaged 74 MW. 

We now know that the Tiwai smelter is likely to be around for another four years to December 2024; but prior to 14th January we didn’t know this. What do futures prices tell us about futures traders’ views of the probability of Tiwai staying longer than August 2021?

Spot price averages exceeded $165/MWh yesterday. Wind generation averaged 383 MW. 

 Total storage increased 131.1 GWh over the last week. South Island controlled storage increased 5% to 1,832 GWh; South Island uncontrolled storage increased 18.9% to 499 GWh; with Taupo storage decreasing 7.9% to 407 GWh.

Prices yesterday averaged $118 at Benmore and Haywards, and $121 at Otahuhu yesterday. Wind generation averaged 427 MW. 

Spot price averages at Otahuhu were $105 on Friday, $98 on Saturday, and $100 on Sunday.   

The Tiwai Pt aluminium smelter has received a stay of execution, with the news last week that Meridian Energy and the smelter’s majority owner, Rio Tinto, reached agreement on 13th January to amend their existing agreement so that its termination date is now 31st December 2024, and not August 2021.

 Total storage increased 124 GWh over the last week. South Island controlled storage increased 4.6% to 1,745 GWh; South Island uncontrolled storage increased 23.5% to 420 GWh; with Taupo storage decreasing 6.7% to 443 GWh.

Prices yesterday averaged $97 at Benmore and Haywards, and $99 at Otahuhu yesterday. Wind generation averaged 450 MW.