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Electrical Industry Sales Up In The June 2024 Quarter
Seasonally adjusted sales for the electricity, gas, waste, and water services industry in New Zealand rose to $7.9 billion in the June 2024 quarter, up 22 percent on March 2024 quarter, according to data released by Stats NZ today.
In actual terms, industry sales increased by $2.1 billion (36 percent) in the June 2024 quarter compared with June 2023 quarter. This is the largest value increase since the beginning of the series in June 2016. Purchases for this industry also rose significantly, up $2.2 billion over the same period.
“The rise in electricity industry sales and purchases can likely be attributed to a combination of factors such as gas shortages and low hydro generation. The impacts have mainly been expressed in the higher wholesale price of electricity.
"It wasn’t just difficulty in electricity generation contributing to the shift we are seeing, the national demand for electricity was much higher this quarter, with NIWA noting the month of May as being the coldest May in 15 years,” business financial statistics manager Ricky Ho said.
- Electrical industry sales up in the June 2024 quarter
- Business financial data: June 2024 quarter
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