Power prices plunge as demand falls, plants return from maintenance

Fri, 20 Dec 2019

Wholesale electricity prices dropped to a 21-month low this week as geothermal plants returned from maintenance and heavy rain reduced strong recent demand from irrigators.Electricity sold for an average $18.68 a megawatt-hour on Wednesday, down from $95.46 the day before and $160.68 on Monday, according to Electricity Authority data. Wednesday’s average national price was the lowest since March 2018.The sharp fall in prices comes a week after Haast Energy and other energy users and retailers lodged a complaint with the Electricity Authority th...

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