Current Storage Positions
Overall, national hydro storage has increased by three percentage points to 77% of average for the time of year (56% of total full). Moderate inflows in the South Island resulted in an increase of three percentage points for South Island hydro storage this week. This now sits at 81% of average for the time of year (62% of total full). North Island hydro storage has also gained this week, increasing by five percentage points to 28% of average (12% of total full).
For the first time since late January, current hydro storage conditions in the South Island sit above the 10th percentile historically. The ERCs are now trending downwards at the same time as current hydro storage is improving. These two factors combined mean that the current hydro position is now 1,269 GWh above the Watch Curve.
What do you think?
Further to our request last week we are keeping our quick (3 minute) survey on our reporting of the dry year sequence open for another week. If you would like to provide us with some valuable feedback, please follow the link here.
Market Indicators
Thermal
Thermal generation over the week was 216 GWh representing a capacity factor of 67%.
Demand
National demand decreased this week, from 803 GWh to 792 GWh due to warmer weather across the motu (country).
Prices
Prices dropped to average $240/MWh at Haywards this week.
Generation Mix
This week wind generation comprised 3% of the generation mix and hydro comprised 51%. Overall, renewables made up 71% of total generation.
ERC's (Energy Risk Curves)
We have completed our June update of the ERC's. As a result, they now show a slight increase in risk for June, July and August 2021. This is due to the Kawerau station outage. See here for more information.
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