Wholesale industrial energy storage price list in New Zealand

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).

How do wholesale prices change in New Zealand?

In New Zealand, wholesale market prices vary a lot depending on the balance between which power stations are available to generate, and how much electricity customers need at any one point in time. Customer demand can change a lot at different times of the day or year.

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.

How does the wholesale electricity market work?

The price and volume of electricity we generate is determined by competitive bids and offers in the wholesale electricity market. The market is operated in real time by the System Operator (Transpower) and closely regulated and monitored by the Electricity Authority (EA). They ensure all market participants act fairly to competitors and customers.

How much does an electricity retailer charge a consumer?

An electricity retailer may charge a consumer 100 cents/day and 22c/kWh of electricity consumed. 26.6 c/kWh — that is, (2125/8000)x100. If the Retailer offered a 10% prompt payment discount, the final cost to the consumer would be 23.9 c/kWh. The line charge component is calculated in a similar manner (all figures include GST).