High winter power prices loom as gas supply dwindles

Tue, 12 Jan 2021

Prices for North Island electricity during winter have started 2021 about 26 percent higher than last year amid constrained gas supplies and forecasts for dry conditions around the South Island hydro lakes.June-quarter prices for electricity futures contracts settled at $152 per megawatt-hour yesterday, compared with $120.50 for the corresponding 2020 contract for Auckland supplies this time last year.The September-quarter contract was at $150.50/MWh, compared with the $134 being paid for July through September electricity supplies this time la...

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