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Source: MIL-OSI Submissions

prices spike in March quarter – Media release

19 May 2021

Prices paid by electricity and gas supply
producers rose 28.7 percent in the March 2021 quarter, while prices they
received for production increased 17.4 percent, Stats NZ said today.

“Lower lake levels in the South Island have
driven up wholesale prices for electricity generation, while an unexpected
fall in production at the Pohokura gas field has seen gas supply prices
also increase,” business prices delivery manager Bryan Downes said.

“The quarterly price change is the largest
since 2018 but is nowhere near the magnitude seen in the 2008 power crisis.”

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