High power prices to persist with Pohokura outage

Thu, 11 Oct 2018

By Gavin Evans Oct. 12 (BusinessDesk) - High power prices may persist for another month with full production from the Pohokura gas field not expected to resume before late November. Output from the offshore field, the country’s biggest, was reduced about three weeks ago after the venture discovered a shutdown valve on the project’s offshore production platform was not operating as designed. The shutdown, coupled with falling hydro storage, pushed wholesale electricity prices to a 13-month high this week and has seen Genesis Energy ramp...

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