Wet weather causes misery for some, but joy for others as electricity prices fall

Like many hydro catchments, Lake Taupo is swelling due to recent wet weather. (Image: Getty)

Thu, 21 Jul 2022

Recent wet weather has substantially lifted hydro storage levels, the latest data show.This combined with wild weather driving up windfarm generation has helped cut recent average wholesale prices, though future prices remain above historical averages.The system operator, Transpower, said in the week ending July 17, national hydro storage increased to 91% of the historical average for this time of year. North Island hydro storage increased by 12% to 166% of the historical average due to a week of high inflows. South Island storage remained...

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