Highlights for June

• Highest demand on record reached.
• National storage levels have decreased to levels below 2005 and remain below seasonal averages.
• Rainfall was above average for much of the east of New Zealand, but below average in hydro catchments in the south of the South Island.
• Spot prices were on average approximately 7% above May prices.
• Temperatures were well below the 1971-2000 average.

Spot Market Prices

Please note that spot price averages above exclude pricing for the 19th of June, which remains provisional at the time of publication.

Spot prices rose as a result of below average national inflows and increased demand on the back of very low national temperatures. It was the coldest June since 1972, with 50 year record lows in some parts of the South Island.

Average Daily Prices

Hydrology

National Storage

The national hydro storage situation deteriorated in the second half of June. Inflows to national hydro catchments were below average for the majority of the month, particularly in the southern most hydro lakes. Rainfall was 50% or less of the average for Fiordland and Otago.