The prime minister has called it an “energy security crisis” and signalled a review of New Zealand’s electricity market as wholesale prices spike and industries suffer.
And he’s right – this year has seen pricing turmoil. August saw daily averages ranging between NZ$164.52 and $853.57 per megawatt hour (MWh). By comparison, August 2023 saw a maximum daily average price of $168.43 per MWh.
