Highlights

• National storage levels remain below seasonal average.
• Demand in September was lower than September 2004.
• Spot prices moved slightly lower.

Spot Market Prices

Demand for electricity in September was 2% lower, when compared to the same period last year, due to warmer than expected temperatures for this time of year. 

Once again spot market prices lowered slightly but remained firm with 97% of Otahuhu prices being greater than 6.0c/kWh and the maximum price reaching 13.5c/kWh.

Average Daily Prices

Hydrology

National Storage

South Island inflows were higher than normal during September leaving storage at 80% of historical averages. Storage levels in the North Island was at 120% of historical average at the end of September.

Outlook

Downward pressure on prices is expected during October due to daylight savings and falling seasonal demand.