25 July 2011
MIGHTY RIVER POWER – OPERATING INFORMATION For the three months ended 30 June 2011
Extra hydro volumes boost Mighty River Power generation by 27% Mighty River Power’s total electricity generation for the three months to 30 June 2011 was up 27% on the prior comparable period, with continued strong geothermal output and increased hydro generation. Generation from renewable sources increased by 445GWh to 1752GWh, making up 98% of the total. This is consistent with the overall increase in renewable generation as a percentage of New Zealand’s electricity generation, largely as a consequence of investment in base-load geothermal in recent years. Hydro generation was 1190GWh for the quarter, up 58% on the prior comparable period. This was largely driven by very wet weather conditions in the Lake Taupo and Waikato River catchments, compared with drought conditions in the previous year. Gas fired co-generation during the period was down 65% to 33GWh (about 2% of total generation), reflecting the lower spot wholesale electricity prices due to national hydro storage being significantly above average. This resulted in Mighty River Power’s carbon emissions dropping by 22% compared with the same period in 2010. Mighty River Power’s total electricity sales to residential and commercial customers were down 5% on the prior comparable period from 1792GWh to 1710GWh, due to a combination of strong competition in the sector, the impact of the Christchurch earthquake and warmer-than-usual conditions reducing seasonal demand. ENDS For further information please contact: David Glendining Head of Corporate Communications Tel: 027 210 5337 Please refer to the Operating Information table below.
OPERATING INFORMATION
3 months to 30 June 2011
3 months to 30 June 2010
Residential FPVV1 (GWh)
684
717
Commercial FPVV1 (GWh)
527
557
Spot (GWh)
499
518
CFD2 - Buy - Sell - Net
726 798 -72
542 888 -346
116.27
106.82
Total NZEM (GWh)
1796
1885
LWAP³ ($/MWh)
47.44
58.14
Retail (PJ)
0.3
0.3
Co-generation (PJ)
0.5
1.1
8.47
7.43
1190
753
562
552
33
94
0
2
Total (GWh)
1785
1401
GWAP5 ($/MWh)
45.67
59.26
LWAP/GWAP
1.04
0.98
Carbon Emissions (‘000 tonnes CO2e)
113
145
392,000
412,000
Electricity Sales
Weighted Average Price FPVV1 ($/MWh) Electricity Purchases
Gas Purchases
($/GJ) Generation Hydro (GWh) Geothermal4 (GWh) Gas co-generation (GWh) Biomass (GWh)
Electricity Customers6
1
Fixed Price Variable Volume Contracts for Difference ³ Load Weighted Average Price 4 Calculated on an equity share basis 5 Generation Weighted Average Price 6 Includes residential and small commercial customers 2