September electricity prices show the impact of spring
September typically sees lowered demand and increased inflows into the hydrological storage lakes, and 2003 was no
exception.
Both the storage and inflow trends helped create downward pressure on prices. The average price for September at the
Haywards reference node was 5.19 c/kWh, down from the August price of 6.66 c/kWh. Benmore, the South Island reference
node, also decreased from 6.39 c/kWh to 5.05 c/kWh. The average price at Otahuhu, a typical upper North Island reference
node, decreased to 5.30c/kWh from 6.44c/kWh.
Inflows for the month were 115% of average, leading to an increase in hydro-storage levels. On 1 September national
storage was 1877 GWh, 80% of average. By the end of the month, this had increased to 2177 GWh, 101% of average.
As a result of warming temperatures, the average daily demand across New Zealand was 103.5 GWh, down from 108.3GWh in
August. Demand for the month was slightly higher than the September 2002 figure of 102.2 GWh.