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
|
Image
|
|
Current Storage Positions
Overview
Another record breaking week for peak electricity demand with a new high of 7,415 MW on last Thursday morning. This new record is almost 300 MW higher than the previous record set on Monday 27 July 2026.
In this week's insight we discuss these record high demand peaks and give an overview of the Low Residual Customer Advice Notices (CANs) and the industry response.
Security of Supply and Capacity
Energy
National hydro storage decreased from 132% to 125% of the historic mean last week. South Island storage decreased from 135% to 130% and North Island storage decreased from 105% to 87%. Inflows have been lower than average for this time of year, but total storage remains above the historic mean.
Capacity
Residuals during the middle of last week were low with low wind generation and cold weather leading to record-high demand. The lowest residual of 81 MW occurred during the morning of Thursday 06 August.
The N-1-G margins in the NZGB forecast show tighter spots continuing as we are now in winter; we recommend the industry watch these closely. 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 increased to 930 GWh last week from 893 GWh the week prior. The highest demand peak occurred at 7:30 am on Thursday 06 August, at a new record-high of 7,415 MW.
Weekly Prices
The average wholesale electricity spot price at Ōtāhuhu last week increased from $79/MWh the week prior to $140/MWh. Wholesale prices peaked at $4,320/MWh at Ōtāhuhu during the 7:30 pm trading period on Tuesday 04 August coinciding with an Under Frequency Event (UFE).
Generation Mix
Wind generation was 8% this week, just below its yearly average of 9%. Hydro generation contributed 63%, above its yearly average of 60%. Thermal generation increased slightly to 4% of the mix. Geothermal generation contributed 22% last week. Battery generation (BESS) contributed a new record 193 MW during the 7:30 am trading period on Thursday 06 August.
HVDC
HVDC flows last week were entirely northward. Overall, 239 GWh was transferred north.