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
|
MO Latest Update.pdf
(PDF 2.56 MB)
|
Current Storage Positions
Overview
National hydro storage has continued to decline and is now at 103% of thehistoric mean for this time of year. This comes with low inflows at a time of year that inflows are traditionally high and as demand rises following the summer holiday lull.
In this week's insight we look at the significant load profile differences between this time of year and a shoulder month, using last September as an example.
Security of Supply and Capacity
Energy
New Zealand hydro storage decreased from 109% to 103% of the historic mean last week as a result of continued below average inflows to catchments. South Island hydro storage dropped from 109% to 102%, and North Island storage dropped from 119% to 117% of the historic mean for this time of year.
Capacity
Capacity margins were healthy last week, coinciding with low summer load. The lowest national residual was 921 MW during the morning peak on 23 January.
The N-1-G margins in the NZGB forecast are healthy for February and March. 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 weekly demand increased to 727 GWh from 703 GWh the week prior as demand continues to ramp up following the holiday period. Irrigation load was also higher last week than the week prior. Demand peaked at 5137 MW at 5:30pm on Thursday 23 January.
Weekly Prices
The average wholesale electricity spot price at Ōtāhuhu increased again to $189/MWh from $159/MWh the week prior, reflecting the continued decline in hydrology and increase in demand. Wholesale prices peaked at Ōtāhuhu last week at $276/MWh on Monday 20 January at 9am.
Generation Mix
The average renewable percentage last week was 86%. This is lower than in recent weeks due to an increase in thermal generation, again reflecting declining hydro. Thermal generation increased to 12% of the mix from 9% the week prior due to declining hydro storage, increasing demand and some central North Island transmission outages. Hydro generation contributed 55%, wind contributed 7%, and geothermal contributed 24% of the generation mix.
HVDC
HVDC flow was mostly northwards last week with a few overnight periods of low southward flow in the second half of the week. In total, 34 GWh was sent north and 3 GWh was sent south.
Transpower is planning an outage on the HVDC link on 8 February ahead of its annual maintenance programme starting later next month. CAN here.
2025 Security of Supply Annual Assessment
To prepare the 2025 Security of Supply Assessment (SOSA) we require information on existing and future investment in generation, energy storage, and demand response.
On Friday 17 January our annual survey was sent to participants. To those who received this survey, please complete and submit responses by Tuesday 11 February.