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
National hydro storage remains above average, with levels at 128% of the historic mean for this time of year. Residuals are lower with higher winter demand but the sector is managing these peaks well.
This week's insight looks at off-peak load surges and the involvement of time-of use plans.
Security of Supply and Capacity
Energy
National hydro storage decreased slightly to 128% of historic mean at the end of last week from 130% the week prior. South Island storage has remained steady at 128% and North Island storage decreased from 155% to 135% with inflows below the average for this time of year.
Capacity
Residuals continued to be lower than usual during morning and evening peaks most of the last week. The lowest residual of 419 MW occurred during the morning of Friday 3rd July, which coincided with the highest North Island demand peak of the week.
The N-1-G margins in the NZGB forecast show tighter spots appearing as we are now in winter; we recommend the industry watch these closely. 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 was again high this week at 857 GWh, up from 842 GWh last week due to colder than average mornings. The highest demand peak of 6,750 MW occurred at 8:00am on Wednesday 1st July. This is the highest demand peak of the year but well short of records set in recent years.
Weekly Prices
The average wholesale electricity spot price at Ōtāhuhu last week jumped to $78/MWh from $47/MWh the week prior. Wholesale prices peaked at $290/MWh at Ōtāhuhu at 8:00am on Friday 3rd July, coinciding with the lowest residual. Energy and reserve prices spiked in the North Island but not the South Island with the HVDC link setting the North Island risk.
Generation Mix
Wind generation made up 6% of the generation mix last week, lower than its yearly average of 9%. Hydro generation was unchanged at 63% of the mix and thermal generation increased slightly from 4% to 5% of the generation mix. Geothermal generation increased from 22% to 24%, sitting above its annual average of 23%.
HVDC
HVDC flows last week were predominantly northward with very brief periods of southward flow overnight. Overall, 155 GWh was transferred north, while only 2 GWh was transferred south during the week.
Consultations and Engagement
System Operator Strategy
Our Phase 2 Consultation for the development of a new System Operator Strategy is open. Responses are due by Friday 24 July 2026. The draft Strategy sets out our proposed direction for how the System Operator service will need to evolve over the next ten years to support a secure, reliable and efficient power system.