Tom Pullar-Strecker05:00, Apr 30 2021
Stuff-co-nz
Flick Electric chief executive Steve O Connor says he has a growing conviction the electricity market is “fundamentally flawed and failing”.
An attempt by the Electricity Authority to “correct misconceptions” about the electricity market has prompted a backlash from Flick Electric chief executive Steve O’Connor who said the authority needed to “see things as they are”. A statement issued by the EA earlier this week said New Zealand’s electricity market was well-regarded internationally and was “doing the job it is designed to do, reflecting lower levels of supply – hour by hour and day by day”.
There is no need to panic : Electricity industry takes first steps to prepare for shortages
15 Apr, 2021 11:00 PM
7 minutes to read
According to one analyst, the Huntly Power Station is expected to burn 1 million tonnes of coal over four months. Photo / Doug Sherring
According to one analyst, the Huntly Power Station is expected to burn 1 million tonnes of coal over four months. Photo / Doug Sherring
New Zealand s electricity system is taking steps to prepare for the risk of conservation measures, with Energy Minister Megan Woods acknowledging soaring wholesale prices are putting some companies in jeopardy. Transpower has begun publishing daily reports on the security of New Zealand s electricity supply, with water levels in hydro lakes - the key driver of New Zealand s day-to-day power needs - at unusually low levels.
Government was preparing to directly subsidise Rio Tinto s transmission costs
16 Apr, 2021 05:00 PM
9 minutes to read
Within an hour of Rio Tinto announcing a strategic review of Tiwai Point, Labour ministers promised there would be no financial assistance from the Government. Photo / Gregor Richardson
Within an hour of Rio Tinto announcing a strategic review of Tiwai Point, Labour ministers promised there would be no financial assistance from the Government. Photo / Gregor Richardson
In public the Government was clear: whatever Rio Tinto might threaten to do with the Tiwai Point aluminium smelter, taxpayers were not going to simply write a cheque to stave off closure.
But dry weather, gas shortages, and a long spell of relatively low investment in new generation have combined to send spot market prices soaring above 30 cents a kilowatt-hour for much of this year. Spot market prices have been reflected in steep rises in electricity futures prices, which are threatening to flow though into broader price rises for small businesses and consumers. The proportion of electricity generated by renewables has slipped below 80 per cent as the Huntly Power Station burns more coal to keep the lights on. Woods acknowledged the share of electricity produced by renewables would have fallen in both 2019 and 2020 but said it was too soon to say if it would fall for a third consecutive year, this year
Power struggle: industry warns thousands of jobs at risk due to electricity prices nzherald.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nzherald.co.nz Daily Mail and Mail on Sunday newspapers.