Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
This is a good site for kiwis to favorite, it shows the current and historical prices up and down the country. The retail price for most domestic consumers is about 20 cents kwh, recent wholesale prices have been peaking at $600 mwh which is 60 cents kwh, so most users are being subsidised by their power company. Some retailers wth little generation or mostly hydro are spending a fortune each day supplying their customers off the spot market, while some generators with excess generation are creaming it on the spot market.
I've been doing my bit by going without heating and hot water trying save my power company money, Yeah Right! _________________ "I'm here to fight for truth, and justice, and the American way" - Superman
Moped
Joined: Sep 28, 2007 Posts: 22 Location: New Zealand
Posted: Wed Jun 04, 2008 5:53 am Post subject: Re: NZ Electricity Prices
Yep, the rain seems to have all fallen in the wrong places. I imagine the power savings campaigns will start soon, nothing I can do though- power bill here is already next to nothing.
Lets hope they get a series of rainstorms down south!! Longterm, I hope they build more hydro dams in more diverse places, along with more wind, geothermal and possibly coal if necessary. Alongside this should be a massive move to get people to insulate their houses.
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