Volatile power prices show need for more quickfire gas generation, say analysts

Growing peak demand is forcing Genesis to fire up its Huntly plant to do a job it was not designed for. (Image: Genesis)

Ian Llewellyn

Mon, 10 Oct 2022

Recent wild fluctuations in wholesale electricity prices highlight the market’s need for more fast-start gas-fired peaking generation or other technology to help reduce extreme price peaks, energy analysts at Forsyth Barr said.Lead analyst Andrew Harvey-Green also said in a note that the first futures prices for 2026 indicated the market believed wholesale electricity prices will remain elevated, showing the need for more new generation.The Electricity Authority recently noted that spot prices were volatile at the start of September. High...

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