Power shortage risks in 2024 after loss of gas-fired power plant

Power shortage risks in 2024 after loss of gas-fired power plant
A gas turbine like the one pictured suffered catastrophic damage when a turbine blade broke while it was running. (Image: Getty)
Pattrick Smellie
The loss of the country’s largest fast-start gas-fired peaker power stations in the last month bodes ill for winter 2024, energy market analyst John Kidd is warning.His comments follow the closure until 2025 of one of two of Contact Energy’s 100 megawatt (MW) peaking plants after a turbine blade broke and caused extensive internal damage to the machine.That came on top of the unscheduled loss of Genesis Energy’s Huntly unit 5 - a 403MW gas peaker - last month until May next year.Kidd, whose firm Enerlytica provides detail...

More Markets

Vital board backs Tait takeover
Markets

Vital board backs Tait takeover

Vital’s board has unanimously recommended that shareholders and option holders accept a full takeover offer from Tait Communications, despite their view that it undervalues the company.In May, Vital shares rallied after it disclosed that Tait, a Christchurch-based critical commun...

Listed property firms welcome ‘Investment Boost'
Property

Listed property firms welcome ‘Investment Boost'

The tax policy could translate into millions in extra cash.

Drury’s ASX stag, MetroGlass’s new owner, and more
Markets Small Cap Wrap

Drury’s ASX stag, MetroGlass’s new owner, and more

Rod Drury goes ‘pre-revenue’ again, plus small cap news from NZ.

NZX down as property company gets key renewal
Markets Market Close

NZX down as property company gets key renewal

ASB Bank has extended the lease for its downtown Auckland site for another nine years.

Tom Raynel 03 Jul 2025