Improving lake levels good news for electricity prices

(Image: Getty)

Tue, 03 Sep 2024

Wholesale electricity prices continued to plummet over the weekend as lake levels improved.Data from Energy Link showed that average prices were at $3.32 per megawatt-hour (MWh) at the Benmore price point and $3.22 at Ōtāhuhu on Monday.On Aug 29, they were $92.21 MWh and $100.22 MWh, respectivelyEven that is a far cry from mid-August when they were around $600 MWh with a sustained record average level of $800MWh before that.A dry year combined with an unexpected and rapid dwindling of gas supply sparked an energy crunch, pushing gas and wholesa...

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