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 continued to increase last week to 95% of the historic mean for this time of year. Demand increased due to a cold snap developing towards the end of the week resulting in Friday evening having the highest demand peak of the week - an unusual occurrence. Hydro generation increased to 55% of the generation mix, up from 53% the week prior, while thermal generation remained low at 9% of the mix.
In this week's insight we provide an overview of the Week-Ahead Dispatch schedule (WDS) and explain price spikes noticed in a WDS last week.
Security of Supply and Capacity
Energy
New Zealand hydro storage increased to 95% of the historic mean this week from 93% the week prior. South Island hydro storage lifted slightly to 92%, from 91% the week prior. North Island storage increased from 124% to 145% last week as heavy rain resulted in high North Island inflows.
Capacity
National capacity margins were relatively healthy last week with over 700 MW of residual generation during all peaks. The lowest residual point was 716 MW during the evening peak on Sunday 8 June during a period of low wind generation and high demand due to cold weather.
The N-1-G margins in the NZGB forecast are healthy through to the start of 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 802 GWh, a 31 GWh increase from the week prior due to colder temperatures. Load is expected to increase through June as we head into winter. The highest demand peak was 6,287 MW, which occurred at 5:30pm on Friday 6 June, with the onset of cold weather later in the week.
Weekly Prices
The average wholesale electricity spot price at Ōtāhuhu last week increased to $150/MWh from $138/MWh the week prior. Wholesale prices at Ōtāhuhu peaked at $308/MWh on Wednesday 4 June at 3:30pm coinciding with a slight drop in wind generation.
Generation Mix
Wind generation remained above average at 10% of the mix last week, but decreased from 12% the week prior. Hydro generation increased to 55% of the mix last week, which is now above the 52-week average of 53%. Thermal generation remained below its average level at 9% of the mix as hydro storage continued to increase last week. The geothermal share decreased slightly to 23% of the mix last week, down from 24% the week prior.
HVDC
HVDC flow was mostly northward last week with lower thermal generation. Periods of southward transfer coincided with low demand overnight, when there was reasonable levels of North Island wind and thermal generation. In total, 28 GWh were sent north, and 11 GWh sent south.
Consultations and notices
Security of Supply Assessment (SOSA)
Thank you to those who contributed to our draft Security of Supply Assessment (SOSA) consultation. We received five submissions which are published on the consultation page. Our summary and response to feedback will also be published on the consultation page when it becomes available.
Māngere grid exit point (MNG1101)
The Electricity Authority has determined that the Māngere 110kV grid exit point (MNG1101) should be reclassified from non-conforming to conforming. This means purchasers at this GXP are no longer to submit nominated bids. Instead, the system operator will forecast the demand at this GXP. This classification will come into effect at 12:00pm on Wednesday 11 June 2025. More information is available here.