In this issue:

• Spot Market Commentary
• Spot Market Prices
• Hydro Storage

Spot Market Commentary

Spot market prices for the month of October averaged $38.89 at Haywards.

Overall New Zealand storage declined by 8% to 50% of maximum capacities.  November was a particularly dry month, with little rainfall in many parts of the country.  There are severe moisture deficits in many parts of the country, including the hydro storage areas.

Record high November temperatures were recorded in many parts of the country towards the end of the month, and continuing anti-cyclones in the Tasman Sea will drive more high pressure systems across the country in December. 

Spot Market Prices

The Spot Market averaged $38.89 at Haywards for November 2007, a slight increase from $32.67 for October 2007.

Half-hour spot prices at Haywards (per MWh) were relatively settled, from a high of $62.74 for period 24 on 27th November, to a low of $0.41 for period 5 on the 5th of November.

Spot Price Statistics

Average Daily Prices

Average Half Hour Prices

Hydro Storage

Inflows for October for New Zealand were above average for only 1 day of the month (1st November).  Overall South Island storage increased from 56% to 46% of maximum capacity, whilst North Island storage fell from 69% to 63%.

The overall NZ level fell 8% to 50%.

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.