Rain boosted Mercury's hydro generation 38% last quarter

Mercury had almost the wettest ever December quarter in its Waikato catchment. (Image: Getty)

Thu, 26 Jan 2023

Mercury NZ said almost the wettest ever December quarter in its Waikato catchment meant its hydro generation rose 38% on the same three months of 2021.Hydro generation was up by 352 gigawatt hours (GWh) to 1,281GWh and the company’s hydro spill was 386GWh for the quarter and 675GWh for the six months ended December to keep lakes within operating levels.Spot electricity prices in the quarter were relatively low, averaging $47 per megawatt hour (MWh) in the quarter and $59MWh in the half-year in Auckland.“However, forward electricity...

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