Power futures slide on weak demand outlook

Tue, 07 Apr 2020

Electricity futures fell further yesterday as generators and industry reassessed the demand outlook and the Pohokura gas field returned to full production sooner than expected.The April Otahuhu electricity contract fell 6 percent to $46 a megawatt-hour yesterday. The June-quarter contract, which should capture the end of the covid-19 lockdown and increased autumn power demand, fell 4 percent to $64.75/MWh.The shutdown of the economy has seen national daily electricity demand fall about 16 percent from levels two weeks ago. June-quarter futures...

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