Our Market Operations Weekly Report contains the latest information about the electricity market, including security of supply, wholesale price trends and system capacity.
It is published every Tuesday. Click here to receive the report via email every week.
If you have any comments or questions please contact the Market Operations Team at [email protected].
Latest Report / More Information
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MO Latest Update.pdf
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Current Storage Positions
Overview
National hydro storage decreased slightly last week to 93% of the historic mean for the time of year. Total demand increased on the previous week with continued cold weather.
A particularly cold and still morning on Wednesday 18 June resulted in the lowest residual so far this year (423 MW). In this week's insight we look at how this compares to the highest historical winter peaks.
Security of Supply and Capacity
Energy
New Zealand hydro storage decreased to 93% of the historic mean this week from 94% the week prior. South Island hydro storage decreased to 87% from 88% while North Island storage decreased from 164% to 154% last week.
Capacity
Most capacity margins were healthy last week, but the morning peak of Wednesday 18 June had the lowest residual so far this year at 423 MW. This was due to cold weather and very low wind generation (30 MW). We discuss this further in this week's insight.
The N-1-G margins in the NZGB forecast are healthy through to mid August. Within seven days we monitor these more closely through the market schedules. The latest NZGB report is available on the NZGB website.
Electricity Market Commentary
Weekly Demand
Total demand last week was 830 GWh, a 5 GWh increase from the week prior. The highest demand peak was 6,698 MW, which occurred at 8:00am on Wednesday 18 June, coinciding with cooler temperatures across the motu. Load is expected to increase further in July and August, in line with typical winter demand.
Weekly Prices
The average wholesale electricity spot price at Ōtāhuhu last week increased to $150/MWh from $142/MWh the week prior. Wholesale prices peaked at 8:00am on Wednesday 18 June with high demand and low wind generation, reaching $402/MWh at Ōtāhuhu.
Generation Mix
The generation mix last week was very close to the past 52 week average with 9% wind, 13% thermal, 21% geothermal and 55% hydro. This generation mix is similar to last week, with a two percentage point drop in the hydro share and a two percentage point increase in the wind share.
HVDC
HVDC flow last week was roughly balanced between northward and southward flow, with a typical pattern of northward flow during daytime periods and southward flow overnight. In total, 22 GWh was sent north and 17 GWh was sent south.
Consultations and notices
2025 Security of Supply Assessment
The 2025 Security of Supply Assessment will be published by 30 June. This annual assessment uses forecasts of electricity supply and demand to assess the ability of the electricity system to meet New Zealand's needs over the decade ahead.