The level of New Zealand’s largest hydro storage lake – Lake Pūkaki – is above the 91-year average for the first time since May.
“All the rain we missed from April to August finally arrived in September,” says Meridian GM Wholesale Chris Ewers.
“We’ve been managing our hydro lakes extremely carefully for months now, but there’s nothing like a helping hand from Mother Nature.”
Lake Pūkaki had been below average for more than 150 days, and at historically low levels as recently as mid-August, before weeks of heavy rain and snowfall changed the outlook. Over the last week Pūkaki rose 715mm to just over 525m above sea level – 102% of average for this time of year.
“The last few weeks have more than exceeded our expectations.”
“September felt wet, and it was. The Waitaki catchment, which feeds Lake Pūkaki and the Waitaki Hydro Scheme, had its fourth wettest September on record,” says Chris Ewers.
But it’s not just water in the lakes that’s welcome. In the mountains above the Waitaki catchment, snow storage is now sitting at 117% of average.
“That’s great news for later in the season as that snow melts and feeds the lakes throughout the warmer months. After a challenging winter, we couldn’t have asked for a better start to spring.”
The historical average level of Lake Pūkaki changes over the course of the year, and spring is generally when levels are at their lowest due to high demand for electricity and less rainfall throughout winter.
The ongoing favourable conditions continue to ensure wholesale prices (also known as spot prices) are kept in check. The average North Island price was down $5 to $78 per megawatt hour and the average South Island price was down $5 to $69.
