Mighty River Power generated 34 percent more electricity in the September quarter than a year earlier, boosted by a new geothermal plant and heavy rainfall in the Waikato.The state-owned company's assets include nine hydro power stations along the Waikato
Mighty River Power generated 34 percent more electricity in the September quarter than a year earlier, boosted by a new geothermal plant and heavy rainfall in the Waikato.
The state-owned company's assets include nine hydro power stations along the Waikato River, geothermal plants in Taupo and Bay of Plenty, and the Mercury Energy retail business.
In the three months to the end of September Mighty River generated 1831 gigawatt hours (GWh), with geothermal volumes up 54 percent from the year before reflecting the contribution of the Nga Awa Purua Geothermal Power Station commissioned in April.
Hydro volumes were up 26 percent due to the Waikato region experiencing heavy rainfall during the period, with rainfall in the first three weeks of last month the wettest recorded for a September.
Wholesale prices averaged $52 per megawatt hour (MWh) over the quarter, up on the $45/MWh of a year earlier, but still low on a long-term basis, reflecting high hydro storage throughout the country and benign national demand conditions, Mighty River said.
Electricity customer numbers were up 15,000 from a year earlier to 408,000 at the end of September, but down on the peak of 412,000 at June 30.
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