Our Market Operations Weekly Report contains the latest information about the electricity market, including security of supply, wholesale price trends and system capacity.
It is published every Tuesday. Click here to receive the report via email every week.
If you have any comments or questions please contact the Market Operations Team at [email protected].
Latest Report / More Information
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Current Storage Positions
Overview
New Zealand hydro storage increased to 83% of the mean for this time of year. Capacity margins were relatively healthy last week with over 700 MW of residual during all peak demand periods.
This week’s insight provides an overview of intermittent generation curtailment on the grid and how frequently they are constrained.
Security of Supply and Capacity
Energy
New Zealand hydro storage increased after above average inflows and below average hydro generation, rising from 77% of the historic mean to 83% over the past week. South Island hydro storage picked up from 73% to 80% of historic mean and North Island storage remained at 104%.
Capacity
Capacity margins were relatively healthy last week with residual at all peaks exceeding 700 MW. The lowest residual occurred on the morning of Wednesday 3 September, at 735 MW. This coincided with low wind generation and the highest demand peak during the week.
The N-1-G margins in the NZGB forecast are healthy through to the start of November. Within seven days we monitor these more closely through the market schedules. The latest NZGB report is available on the NZGB website.
Electricity Market Commentary
Weekly Demand
Total demand last week remained at exactly 821 GWh. The highest demand peak occurred at 7:30am on Wednesday 3 September, at 6,302 MW.
Weekly Prices
The average wholesale electricity spot price at Ōtāhuhu last week increased to $182/MWh from $148/MWh the week prior in line with decreased hydro generation and increased thermal. Wholesale prices peaked at $351/MWh at Invercargill at 6:00am on Monday 1 September.
Generation Mix
Hydro generation contributed 52% of the generation mix last week, 1% lower than the previous week. Wind generation increased from 9% to 13% of the mix. Thermal generation increased from 11% to 13% with lower hydro generation. The geothermal share remained close to its average level at 23% of the mix.
HVDC
HVDC flow last week was predominantly southward with the exception of Wednesday and Saturday which saw high northward flow during the day. In total, 22 GWh was sent south and 12 GWh was sent north.
CACTIS Consultation Open
Consultation to seek feedback on the proposed Connected Asset Commissioning, Testing and Information Standard (CACTIS) opened on 1 September. The closing date for submissions is 29 September. More information on this consultation can be found here.