Highlights for July

• National hydro storage levels continued to track below 2005 levels, and remain below seasonal averages.
• Rainfall was below average for the South Island.
• Spot prices were on average approximately 7% below June prices.
• July was a relatively mild month, with few weather extremes hitting New Zealand.

Spot Market Prices

Spot prices eased across the country, largely as the result of milder weather. Mild temperatures were accompanied by below average rainfall across the country.

The national average monthly spot price was 6.98c/kWh (in Wellington), compared to 7.19c/kWh in June, and 8.52c/kWh in July 2005.

Average Daily Prices

Hydrology

National Storage

The national hydro storage situation continued to decline in July. Inflows into South Island hydro catchments were below average for the majority of the month, in particular in the southern most hydro lakes.  National storage is currently within 500GWh of the Electricity Commission Operational Minzone.