23 Feb 2025 11:38:31
Posted: 13 Feb 2025
The new Energy Minister Simon Watts has met with gentailers to discuss progress and cooperation ahead of the expected winter energy price spike.
Wholesale power prices last winter spiked dramatically, mostly affecting industries. It led multiple wood and paper mill to close, but residents were largely protected because power retailers had purchased future contracts to maintain stable prices. This year, however, the additional risk and likelihood of supply shortages have already been priced in.
That, combined with increased lines charges and the continued phase-out of a fixed daily price scheme, are expected to see power price increases in the double digits.
Read more on RNZ.