In this issue:

• Spot Market Commentary
• Spot Market Prices
• Hydro Storage

Spot Market Commentary

Spot market prices for the month of August averaged $50.77 at Haywards.

Overall New Zealand storage reduced by 1 to 42% of maximum capacities.  August was a month of high winds across the country – limiting rainfall in the north and east. The national average temperature was 0.4ºC above average, with above average temperatures in many parts of the South Island.  The Taupo catchment received high inflows for the majority of the month, frequently above 150% of averages for the day.  The Waitaki catchment received similar levels of inflows during the second half of the month, whilst the other major South Island catchments had poor inflow months.

Spot Market Prices

The Spot Market averaged $50.77 at Haywards for August 2007, a significant decrease from $64.29 for July 2007.

Half-hour spot prices at Haywards (per MWh) were relatively settled, with a couple of minor spikes, ranging from a high of $220.91 for periods 37 & 38 on 7 August, to a low of $0.04 for periods 10 & 11 on the 12th of August.

Spot Price Statistics

Average Daily Prices

Average Half Hour Prices

Hydro Storage

Inflows for August for New Zealand were above average for 10 days of the month.  Overall South Island storage fell from 40% to 38% of maximum capacity, whilst North Island storage rose from 55% to 63%.

The overall NZ level fell 1% to 42%.

National Storage

The NZ storage level currently sits well above the EC Operational Minzone, as the following diagram illustrates:

NZ Storage and Minzone
October 2006 to December 2007

Disclaimer: The information contained in this document is based on information that has been provided to Mighty River Power Limited or its related companies by third parties and is intended for general reference only. Whilst every effort has been made to ensure the accuracy and completeness of the information contained in this document, this document is provided on the basis that neither Mighty River Power Limited nor any of its related companies make any representation or warranty as to the accuracy or completeness of the information contained in this document. Neither Mighty River Power Limited nor any of its related companies shall be liable for any losses, damages, costs or expenses suffered or incurred by any person who elects to rely on the information contained in this document.