Lake Pūkaki returns to average levels, relieving some worries about next winter's electricity supply

NZ's largest hydro lake has been replenished. (Image: Meridian)

Tue, 08 Oct 2024

Lake Pūkaki is above its long-term average storage level for the first time since May, alleviating some concerns about winter 2025.New Zealand’s largest hydro storage lake has been below the 91-year average since May and was at record low levels as recently as mid-August. This lack of stored water, a shortage of gas and less wind than usual led to record-high sustained average wholesale electricity prices above $800 a megawatt hour, putting pressure on those businesses exposed to the spot price.There are fears the energy crunch durin...

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