Originally Posted by
xafalcon
Typical WITS is $300/MWh - refer transpower weekly report
Rankine cost of production is $113/MWh (Q4 report)
Rankines producing 600MW ish at the moment
$112,200/hr in theory
But they aren't selling all generation into wholesale market. They may have some swaptions left, they will have some PPA's, and their own customers (GNE has 2nd largest customer base) will be contracted at lower prices
The WITS price is driven to $300/MWh by winter demand and lowish hydro storage, then spikes up when wind is low (<300MW ish)
MEL has pulled all their load reduction levers with Tewai Point to reduce demand and preserve Lake levels until snow melt
CEN has been running geothermal at full tilt for months
Another big stationary high pressure over north island could prove challenging during the morning and evening peaks, and would extend high wholesale prices further into spring
GNE makes good money when these conditions combine
And they need to - they just wasted $75M on their KS9 drilling program