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Weekly Update sent on 28 June 2022
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Summary

Security of Supply

National hydro storage decreased by 2% to 90% of the historical average for the time of year. This remains within the historical 10th to 90th percentile range. High hydro generation in the first half of the week contributed to the decline in hydro storage despite average inflows. North Island hydro storage decreased by 6% to 166% of the historical average. South Island storage decreased by 2% to 83% of the historical average for the time of year.

The Maui gas field is now fully operational.

Weekly Demand

Demand increased from 821 GWh in the week prior to 850 GWh, this was driven by cold temperatures across the country. Demand peaked at 6,868 MW on Monday 20 June at 5:30pm, as the evening peak coincided with much colder temperatures than the week prior. Demand peaks were consistently high from Monday to Thursday due to the cold snap, making four of the largest 10 peak demands from record).

Generation Mix

Renewable generation dipped mid week bringing the percentage of renewable generation down to 84%. This is still higher than the previous renewable generation percentage at this time of year in the past 3 years. It included hydro generation, which comprised 61% of the total generation mix, and wind generation, which decreased from the week prior to 5% of the generation mix.

Thermal generation peaked mid week in response to high demand and low wind generation. Contrary to the week prior, wind generation was relatively low all week except for Monday 20 June. There was very little wind generation on Thursday 23 June, contributing to the GEN event that morning.

Weekly Prices

Average prices increased from the week prior. At Haywards, prices increased by 44% from $126/MWh to $182/MWh. Prices stayed steady at around $200 to $250/MWh, with a few periods of near $0/MWh prices in the long weekend. The price dips coincided with low overnight demand due to relatively mild temperatures and wind generation picking back up. 

Prices peaked at $2813/MWh on Thursday 23 June at 07:30am during the insufficient generation GEN.

HVDC

Transfer across the HVDC link over the past week again reflected typical winter conditions, with high northward flow during the day and some periods of southward flow at night as a result of low demand. There continued to be some northward flow overnight due to low wind generation later in the week.

Outages and Loss of Supply

Separate to the GEN, there was a loss of supply event on Thursday 23 June at Hangatiki which lost 26 MW of supply.

Notices

On Thursday at 7:58am, a GEN was issued due to insufficient generation offers during the morning peak. The GEN was resolved at 9:03am.

Go to Security of Supply web page

Next Report

The next scheduled Market Operations weekly report is due Tuesday 5 July 2022.

Transpower Website

If you have any queries, please email system.operator@transpower.co.nz.
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