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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Current Storage Positions
Overview
National hydro storage increased to 101% of the historic mean for this time of year due to the recent heavy rain. This is the first time hydro storage has been above the historic mean since the beginning of February. In response to improving hydro storage, thermal generators eased off output.
In this week's insight we highlight the key findings from the recently published 2025 Security of Supply Assessment (SOSA).
Security of Supply and Capacity
Energy
New Zealand hydro storage increased significantly to 101% of the historic mean this week from 93% the week prior. South Island hydro storage increased to 95% from 87% while North Island storage increased from 155% to 162% last week.
Capacity
Capacity margins were healthy last week with all almost all peaks having over 1,000 MW of residual. The lowest residual point occurred on Monday 23 June at 905 MW.
The N-1-G margins in the NZGB forecast are healthy through to late 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 807 GWh, a 23 GWh decrease from the week prior. The highest demand peak was 6,322 MW, which occurred at 8:00am on Tuesday 24 June. With the school holidays over the next two weeks we expect demand to be a bit lower, all else being equal.
Weekly Prices
The average wholesale electricity spot price at Ōtāhuhu last week decreased to $91/MWh from $150/MWh the week prior. Lower average wholesale prices coincide with an improving hydro situation, moderate wind generation and lower thermal generation over the week. Wholesale prices peaked at 7:00am on Wednesday 25 June during a period of price separation reaching $194/MWh at Ōtāhuhu.
North Island sustained instantaneous reserve prices spiked to $105/MWh on Saturday 28 June at 9:00am during an unplanned HVDC Pole 2 outage which meant that additional reserves needed to be procured in the North Island.
Generation Mix
Wind generation remained at 9% of the generation mix. Thermal generation decreased from 13% to 9% in line with improving hydrology, geothermal increased from 21% to 23% of the mix and hydro generation increased from 55% to 56%.
HVDC
HVDC transfer followed the typical patterns of northward flow during the day and southward flow overnight. In total 29 GWh was sent north and 11 GWh was sent south.
Consultations and notices
2025 Security of Supply Assessment
The 2025 Security of Supply Assessment was published on 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. This week's insight highlights the key takeaways.