Mercury NZ Limited released its quarterly operational update for the three months ended 31 March 2023, showing the wettest July to March period ever, with hydro generation up 367GWh compared to the prior period.
Total connections lifted by 11,000 in the quarter, while electricity futures prices remained high at around $170/MWh out to 2026.
National demand was impacted by Cyclone Gabrielle, while hydro and geothermal generation were up and down respectively.
Commercial and industrial yields increased, while forward prices remained high.
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