Meridian Energy reported healthy hydro lake levels as New Zealand enters midwinter, thanks to steady rainfall and balanced power generation.
Chief executive Mike Roan said the industry’s approach supported strong security of supply and lower spot market prices.
Controlled hydro storage nationwide is at 101% of the seasonal average. Lakes Te Anau and Manapōuri are 89% full, while Lake Pūkaki sits at 61%.
He said spot prices dropped to $91/MWh in the North Island and $85/MWh in the South.
