In this issue:

• Spot Market Commentary
• Spot Market Prices
• Hydro Storage

Spot Market Commentary

Overall New Zealand storage increased by 20% to 58% of maximum capacities.  October was a stormy month, with frequent westerly gales and below average temperatures in the South and above average in the North, the result of deep depressions hitting the South Island. Rainfall was above average in many parts of the country, and continued to produce significant inflows for the Southern hydro catchments. The forecast until December suggests above average temperatures and average rainfall in the South Island, and above average temps and rainfall in the North Island. 

Spot Market Prices

The Spot Market averaged $32.67 at Haywards for October 2007, a marked decrease from $52.17 for September 2007.

Half-hour spot prices at Haywards (per MWh) were relatively settled, ranging from a high of $93.12 for period 17 on 12th October, to a low of $0.04 for period 9 on the 18th of October.

Spot Price Statistics

Average Daily Prices

Average Half Hour Prices

Hydro Storage

Inflows for October for New Zealand were above average for 7 days of the month. Overall South Island storage increased from 34% to 56% of maximum capacity, whilst North Island storage fell from 56% to 69%.

The overall NZ level increased 20% to 58%.

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.