News

Prices spiked to $119.62 at Benmore, $126.71 at Haywards and $139.97 at Otahuhu.

Average prices increased by 5% at Benmore, increased by 7% at Islington, increased by 125% at Haywards and increased by 101% at Otahuhu over the last week. Total Storage increased to 2,441 GWh. 

Due to the HVDC pole outage, we have been experiencing very high reserve prices in the North Island.

Spot price averages exceeded $200/MWh yesterday.

The index increased this month to 8.3 c/kWh on a volume of 13 contracts traded (8 CFD, 5 FPVV). The Energy Link indices exclude contracts from ASX, that are less than 6 months in duration, have volumes significantly less than disclosure rules require, are unverified or in dispute.

Average prices decreased by 29% at Benmore, decreased by 30% at Islington, decreased by 24% at Haywards and decreased by 19% at Otahuhu over the last week. Total Storage increased to 2,370 GWh.

A more settled day, with prices averaging $139.46 and spiking to $220.26 at Haywards.

Total storage increased 519.8 GWh over the last week. South Island controlled storage increased 42.3% to 1,564 GWh; South Island uncontrolled storage increased 12% to 537 GWh; with Taupo storage decreasing 0.8% to 270 GWh.

Prices spiked to $147.87 at Benmore, $184.22 at Haywards and $223.81 at Otahuhu.

The downward trend continued over the weekend, with Sunday averaging $63.59 at Benmore, $84.15 at Haywards and $99.80 at Otahuhu.

Total storage increased 139.6 GWh over the last week. South Island controlled storage increased 8% to 1,099 GWh; South Island uncontrolled storage increased 17.9% to 479 GWh; with Taupo storage decreasing 5.3% to 272 GWh.

Spot prices averaged $199.80 at Benmore, $203.77 at Haywards and $218.99 at Otahuhu.

Total Storage increased to 1,710 GWh. NI storage stayed the same on 287 GWh while SI storage increased by 3% to 1424 GWh.

Large price spikes pushed daily averages upward, with $439.10 at Benmore, $446.11 at Haywards and $462.66 at Otahuhu.

Total storage increased 41.8 GWh over the last week. South Island controlled storage increased 5.6% to 1017 GWh; South Island uncontrolled storage decreased 2.8% to 406 GWh; with Taupo storage remaining steady at 287 GWh.

Prices spiked to $530.04 at Benmore, $552.44 at Haywards and $584.75 at Otahuhu

Prices at Otahuhu averaged $306.44 on Friday, $313.66 on Saturday and $214.34 on Sunday.

Total storage decreased 7.3 GWh over the last week. South Island controlled storage increased 1% to 963 GWh; South Island uncontrolled storage decreased 2.3% to 418 GWh; with Taupo storage decreasing 2.2% to 287 GWh.

We’ve been asked many times recently why spot prices are so high, so this has prompted me to finally put fingers to keyboard for another blog.  The spot prices are a function of low hydro storage, restricted fuel supplies, and plant outages.