Lack of 'prudence' behind wholesale electricity price pain

Many eyes are on hydro lake levels as wholesale prices squeeze industry.

Fri, 23 Apr 2021

The electricity regulator has defended the operation of the wholesale market saying those suffering from soaring spot prices have not followed prudent hedging policies.However, the head of a smaller independent electricity retailer said the Electricity Authority (EA) is abdicating responsibility and overseeing the destruction of competition.Large industrial users exposed to the spot wholesale price have been curtailing production as prices have soared in recent months. This is due to much lower than average hydro lake levels, curtailed gas supp...

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