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24-08-2024, 09:28 AM
#4011
![Quote](images/misc/quote_icon.png) Originally Posted by Walter
Over the last 5 years Big Oil has spent $2 Billion drilling 50 dry holes. The combination of Tiwai supposedly closing down and freeing up 13% of supply and the Onslow project increased the risk of adding supply. None the less all of the power companies are adding capacity. Australia gets 20% of their electricity from solar, much of it on housing. While our sunshine hours are lower there is not a huge difference. Solar and storage (we already have it in hydro) could easily add capacity.
There is a significant difference in solar efficiency NZ vs Aussie
The storage we have in hydro is woefully insufficient as the current situation has clearly demonstrated. I suggest you review storage levels in Dec 23 vs now. We went from the big wet to the big dry in 6 months.....
As electricity demand grows (3-4%pa compounding) our hydro storage % of demand falls by 4.5-6%pa compounding
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24-08-2024, 11:07 AM
#4012
Junior Member
maybe we should raise Manapouri?
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25-08-2024, 04:27 PM
#4013
![Quote](images/misc/quote_icon.png) Originally Posted by Rocky
maybe we should raise Manapouri?
Zero chance of that happening. Was fought off in the early 70's.
https://en.wikipedia.org/wiki/Save_Manapouri_campaign
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25-08-2024, 07:44 PM
#4014
![Quote](images/misc/quote_icon.png) Originally Posted by Sideshow Bob
It is one of the rainyist places on earth. Surrounded by a rainforest. In a national park.
Yep, zero chance of altering the lake level
But excellent engineering to make it invisible
If only our current politicians (red, blue, green, black) just agreed to do a new long term electricity project like our fore fathers did on so many hydro and geothermal projects
Yep, zero chance here as well
The blue team have already proven they can't be trusted, breaking the 3+3 urban intensification plan they agreed to while in opposition
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![Quote](images/misc/quote_icon.png) Originally Posted by xafalcon
The announcement was intended for government ears to avoid regulatory intervention "look, we offered these hedges and no independent electricity retailers or large corporates were interested". Further, GNE said they will offer these hedges again in the future, showing the government they are trying to help businesses manage their electricity price risk now and in the future
This counters electric kiwi and the businesses recently complaining about high electricity prices in the media. And shows these businesses were happy to take cheap electricity prices by playing in the wholesale market, but unfairly blames the generators when their calculated gamble doesn't work out for them
This is not the first time businesses have come undone by not hedging their electricity demand. A few years ago an electricity retailer (Flick from memory) offered customers access to the wholesale market pricing. They promoted it as a way to get cheaper electricity. People signed on, and they saved money, just like the box said. Until a dry year. Wholesale prices went up, customers got angry and vocal, and those customers found it difficult to transfer to other suppliers because their demand wasn't hedged
I don't understand why people and businesses don't learn from past mistakes
And if electricity cost can make or break your business, don't play in the wholesale market. Either hedge your demand (just like Forex), or generate your own (it's viable for most businesses at current pricing)
I wonder why those same businesses aren't re-appearing in the media making bold statements about why they feel the current wholesale electricity prices are well below the cost of generation, and they feel this disadvantages the generators so they will instead be paying a fair price for electricity, of say $200/MWHr
Yep, the silence is telling
Last edited by xafalcon; Today at 10:16 AM.
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