Rain falls, lakes fill, wholesale electricity prices fall

Lake Manapōuri has filled reducing stress on other hydro lakes. (Image: Meridian)

Tue, 10 Sep 2024

Meridian Energy said the major hydro lakes are returning to normal levels after persistent rain, and more is forecast in the coming days.This comes as wholesale electricity prices return to very low levels after weeks of sustained record high prices due to a gas shortage and very low hydro lake levels.Sustained prices above $800 a megawatt-hour (MWh) are stressing businesses exposed to spot power prices.However, they dropped after a deal with Taranaki's Methanex to shutter its methanol operations and sell its gas to Contact Energy...

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