Business energy storage tender price in New Zealand 2030

Will Rankine power supply increase wholesale electricity prices in New Zealand?

Concept Consulting’s modelling shows that without thermal generation from the Rankine units as part of New Zealand’s energy storage solution, wholesale electricity prices would likely be 60% higher in the short-term (the next two-to-three years) and 11% higher in the long-term (ten+ years).

What is the NZ battery project?

The NZ Battery Project was set up in 2020 to explore possible renewable energy storage solutions for when our hydro lakes run low for long periods. A pumped hydro scheme at Lake Onslow was one of the options being explored. The Government stopped the Lake Onslow investigations in late 2023.

What are New Zealand's energy supply and demand challenges?

In brief : While New Zealand’s energy supply side challenges capture headlines and headspace, the demand side of the equation is often overlooked. High electricity prices and recent policy shifts make it challenging to attract and retain industrial customers.

Why is fuel storage important in New Zealand?

The choice of fuel used for storage is critical for security, price stability and environmental impact. There is value in New Zealand having diversity for its storage solutions, as seen by the impact of the lack of gas in Winter 2024. Working with every facet of the energy industry, to help clients respond to business issues and trends.

Will removing supply side barriers help N ew Zealand's electricity market?

N ew Zealand’s electricity market has long operated under the assumption that demand will inevitably rise. According to the prevailing belief, by removing supply side barriers we will naturally see a surge in new generation projects to meet anticipated demand growth, smooth price volatility and keep us on track to net zero by 2050.

Will Huntly assets support New Zealand's energy security?

Off the back of its experience in Winter 2024, Genesis asked KPMG and Concept Consulting to assess the future requirement for Huntly assets to support New Zealand’s energy security over the short, medium, and long term. Key takeaways from this report: