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

Volatile stocks drive NZ sharemarket down nearly 0.5%
Markets Market Close

Volatile stocks drive NZ sharemarket down nearly 0.5%

The S&P/NZX 50 Index closed at 12.844.59, declining 60.45 points or 0.47%.

Graham Skellern 05 Feb 2025
Lyttelton Port result improves but CEO says it's not enough
Infrastructure

Lyttelton Port result improves but CEO says it's not enough

The CEO says Lyttelton Port does not generate sufficient returns on its capital base. 

Rebecca Howard 05 Feb 2025
Sky CFO Ciara McGuigan resigns in surprise departure
Markets

Sky CFO Ciara McGuigan resigns in surprise departure

Embattled broadcaster Sky TV is losing its chief financial officer with immediate effect.The pay-TV operator, facing a barrage of customer anger over poor satellite reception in recent weeks, announced the resignation of Ciara McGuigan on Wednesday.Her departure, effective immedi...

Staff reporters 05 Feb 2025
Ex-contractors reveal Harvey Norman business model pressures
Retail Exclusive

Ex-contractors reveal Harvey Norman business model pressures

The promise of big money can require extreme flexibility from ‘proprietors’.

Gregor Thompson 05 Feb 2025