Heavy industry closing plant as power prices sky-rocket

Pattrick Smellie
Thu, 08 Apr 2021

Hydro lakes are draining far earlier this winter than is normal.
Pattrick Smellie
Thu, 08 Apr 2021
Plunging hydro lake levels and a tight supply of natural gas are pushing wholesale electricity prices sky-high and forcing production cuts at some of the country’s largest heavy industrial plants.The Norske Skog Tasman pulp and paper mill is currently shut down and ran at between 40% and 60% of capacity last month, with wholesale power prices on the spot market averaging more than $300 per megawatt-hour (MWh) in the last fortnight of March.That is three to four times higher than the same time a year ago and comes at a time of relatively b...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Pet food millionaire snaffles Taupō racetrack
Pattrick Smellie | Sat, 17 Apr 2021

Tony Quinn is adding Taupō's Bruce McLean Park to the motorsport facilities he already owns at Hampton Downs and Highlands.

Markets Exclusive
Market regulator blasts Australian 'culture of leaks'
Dan Brunskill | Sat, 17 Apr 2021

Leaks are threatening market integrity and should not be tolerated, NZ RegCo says.

The traditional office is dying a slow, painful death
Jehan Casinader | Sat, 17 Apr 2021

The modern workplace has been through various iterations in recent decades, but no one questioned why it existed in the first place.

Partner Content
Highlights from the New Zealand company earnings season

The February earnings season has provided a snapshot of the impact covid-19 has had on different sectors over the last six months and expectations for the year ahead.

Now’s the time to ask hard questions on our future land use

How can we work together to strengthen our economy and support Kiwis to prosper while protecting our natural environment and our climate.