New generation plans will break soil this year, says Forbar

Forsyth Barr predicts firm progress on grid solar generation. (Image: Vector)

Mon, 23 Jan 2023

A surge in wholesale futures prices and an explosion of new generation plans were the two big trends in the electricity market last year, says Forsyth Barr.In 2023, it expects to see grid solar plans break soil, volatile wholesale spot prices and mediocre market performance by the electricity sector. It predicts cabinet will axe the Lake Onslow pumped hydro project for less risky options.Forsyth Barr's analysts said long-dated future wholesale electricity prices rose 54% to almost $190 per megawatt-hour (MWh) by the end of 2022. I...

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