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
|
Image
|
|
Current Storage Positions
Overview
New Zealand hydro storage remained at 83% of the mean for this time of year with inflows being offset by an increase in hydro generation. Wind generation remained above average and despite having less thermal unit commitment residuals remained healthy.
This week’s insight looks at the change of peak-to-average load ratios over the last decade.
Security of Supply and Capacity
Energy
National hydro storage remained at 83% of the historic mean for this time of year. South Island hydro storage decreased from 80% to 78% of historic mean while North Island storage increased from 104% to 110%.
Capacity
Capacity margins were healthy last week with residual over most peaks exceeding 500 MW, the exception being on the morning of Monday 8 September where residual dropped to 475 MW.
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 in line with the last few weeks at 822 GWh. The highest demand peak occurred at 7:30am on Tuesday 9 September, at 6,408 MW.
Weekly Prices
The average wholesale electricity spot price at Ōtāhuhu last week decreased to $174/MWh from $182/MWh the week prior, in line with increased hydro generation. Wholesale prices peaked at $286/MWh at Benmore at 6:00am on Thursday 11 September.
Generation Mix
Renewable generation contributed 89% of the generation mix last week. Hydro generation contributed 54%, 2% higher than the previous week but still below the average of the last 52-weeks. Wind generation decreased from 13% to 11% of the mix. Thermal generation decreased from 11% to 10%. The geothermal share remained average at 23% of the mix.
HVDC
HVDC flow last week returned to being predominantly northward with an increase in hydro generation. In total, 28 GWh was sent north and 14 GWh was sent south.
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.