Power futures rise on winter gas, hydro risks

Thu, 26 Nov 2020

Electricity futures for next winter have jumped 10 percent in the past two weeks amid ongoing gas supply disruptions and the potential for low rainfall early next year.The June-quarter Otahuhu contract settled at $135 a megawatt-hour yesterday, a $15.50 increase since the middle of the month. The September-quarter contract settled at $133/MWh, an $11.60 increase over the same period.Prices started lifting after gas producer OMV reported an unexpected issue at its Pohokura field on Nov. 13 that was expected to reduce production by about a fifth...

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