Current Storage Positions
Despite North Island declines, national hydro storage has increased by three percentage points this week to 68% of average for the time of year. This is the result of material South Island inflows. South Island hydro storage increased by three percentage points this week to 70% of average for the time of year. North Island hydro storage decreased by three percentage points to 30% of average.
Our current hydro position is 408 GWh above the 1% ERC (1,858 GWh). With further moderate inflows expected in catchment areas over the next five days we expect to cease our daily reporting from 18 May. We will confirm this at our security of supply webinar on 18 May.
Market Indicators
Demand
National demand decreased from 775 GWh to 752 GWh this week.
Prices
Prices decreased on last week, averaging at around $228/MWh at Haywards.
Generation Mix
This week saw the highest contribution by thermal to the generation mix since June 2020, at 25%, pushing down hydro generation to 45%.
Of this weeks generation mix, wind comprised 7%. Overall, renewables made up 73% of total generation.
HVDC transfer
The trend of relatively low northward transfer and increased southward transfer continues as a result of dry conditions.
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