In this issue:

• Spot Market Commentary
• Spot Market Prices
• Hydro Storage

Spot Market Commentary

Spot market prices for the month of December averaged $57.71 at Haywards.

Overall New Zealand storage increased by 12% to 61% of maximum capacities.  Despite this, storage remained below average for the time of the year (89%) which impacted prices accordingly.  Prices at the end of the month were considerably more settled after significant mid-month inflows in the south.

Continuing anti-cyclones in the Tasman Sea drove high pressure systems across the country in December, with below average rainfall and continuing soil moisture deficits in the South Island hydro catchments.  Temperatures were largely above average, due to ongoing dry north-easterly wind flows. 

Spot Market Prices

The Spot Market averaged $57.71 at Haywards for December 2007, a significant increase from $38.89 for November 2007.

Half-hour spot prices at Haywards were somewhat volatile, from a high of $206.82 for period 38 on 9th December, to a low of $0.01 for periods 7-9 on the 14th of December.

Spot Price Statistics

Average Daily Prices

Average Half Hour Prices

Hydro Storage

Inflows for December for New Zealand were above average for 12 days of the month.  Overall South Island storage increased from 46% to 60% of maximum capacity, whilst North Island storage fell from 63% to 67%.

The overall NZ level improved by 12% to 61%.

National Storage

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

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.