Regulator rules Meridian 'wasted' water, price reset possible

Tue, 22 Dec 2020

Wholesale electricity prices for December 2019 look likely to be reset after the Electricity Authority confirmed its earlier decision that an undesirable trading situation had occurred that month.The regulator found that a “unique and extreme” set of events that month — including record flooding — reduced competition in the wholesale power market and meant prices did not fall as much as would usually be expected.The authority said excess spilling by Meridian Energy increased spot power prices between Dec. 3 and Dec. 27 b...

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