In this issue:

• Spot Market Commentary
• Spot Market Prices
• Hydro Storage

Spot Market Commentary

Spot market prices for the month of June averaged $305.90 at Haywards. Overall New Zealand storage fell 2% to 34% of maximum capacities. June produced another record monthly spot price, as hydro lake levels remained low in the South Island in particular, which has kept high-priced thermal generation and in particular the reserve diesel generator at Whirinaki in the market.

The savings campaign initiated by the EC and supported by the major power companies is driving steady savings at small business and residential levels, whilst large users continue to minimise their electricity consumption, where possible. MRP have indicated that the new 90MW generator at Kawerau will be on line early in August, which will help to manage demand and constraints in the central North Island.

Spot Market Prices

The Spot Market averaged $305.90 at Haywards for June 2008, a significant increase from $271.72 for May 2008. Half-hour spot prices at Haywards were as volatile this month as last, with a high of $588.54 for period 41 on 4th of June, and a low of $10.38 for period 10 on the 28th of June.

Spot Price Statistics

Average Daily Prices

Average Half Hour Prices

Hydro Storage

Inflows for June for New Zealand were above average for 12 days of the month.  Overall South Island storage fell 2% to 33% of maximum capacity, whilst North Island storage rose from 37% to 41%.

The overall NZ level fell 2% to 34% of maximum capacity.

National Storage

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

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