Summary
Security of Supply
National hydro storage increased by 3 percentage points to 112% of the historical average for this time of year, breaking through the 90th percentile. North Island hydro storage increased to 157% of the historical average and South Island storage increased to 107% of the historical average for this time of year following a wet week across the motu.
Weekly Demand
National demand decreased to 848 GWh, 10 GWh lower than the previous week, however South Island demand was up on last week. Demand peaked at 6,880 MW on Monday 25 July at 5:30pm during a cold day, which is among the top ten all time peaks. Monday's total demand was 10GWh or 8% more than any other day last week.
Generation Mix
The contribution of renewables to the generation mix dropped slightly this week to 88%. Hydro generation dropped slightly to 62% of the generation mix whilst wind generation moved up to comprise 8% of the total generation mix.
Weekly Prices
Average prices decreased from the week prior. At Haywards, prices decreased by 29% from $62/MWh to $44/MWh. This is the lowest weekly average price since the holiday period in December 2021. Periods of low prices continue to be observed when wind generation is high.
Monday's high demand contributed to its average price reaching $110/MWh, this was more than $50/MWh higher than the average for any other day.
Reserve prices had a handful of peaks throughout the week with North Island and South Island SIR prices heading above $100/MW on Monday and on Sunday.
HVDC
HVDC transfer was net north over the week but changed direction often. In total 21 GWh was sent northward and 12 GWh was sent southward. Peak transfer was 480 MW in the northward direction and 385 MW southward.
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