| April | | Very low hydro inflows since January which continue through the winter |
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| | Daily average spot prices range from 4-15c/kWh |
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| | Vigorous retail competition continues |
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| May | | Hydro storage falls below 2000GWh |
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| | Daily average spot prices range from 4-10c/kWh |
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| June | | Hydro storage falls below 1500GWh |
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| | Thermal generation running hard and will continue to do so through the winter |
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| | 7th | Government publicly signals "modest" hydro supply risk |
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| 8th | Two New Zealand Electricity Market (NZEM) participants ask the Market Surveillance Committee of the NZEM to investigate whether or not an undesirable situation exists |
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| | Daily average spot prices range from 10-29c/kWh |
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| | | Electricity demand 4-5% higher than previous June |
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| July | 16th | Market Surveillance Committee reports that orderly trading in the NZEM was not affected by an undesirable situation during 2001 |
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| | | MEUG members publicly voice concerns about prices |
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| | | Spot market prices reach 41c/kWh |
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| 25th | Commerce Commission announces it will investigate Genesis Power’s acquisition of On energy North Island customers to ensure that it does not substantially lessen competition |
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| 27th | Minister of Energy publicly signals increase in hydro supply risk to "moderate" and calls together electricity stakeholders to meet every week until the threat of a shortage has passed |
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| | Transmission security is relaxed to ease constraints in a number of areas |
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| | Government announces electricity conservation campaign with a target 10% savings for 10 weeks and 15% for the public sector |
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| August | 1st | On energy exits retail market |
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| | | Competition for retail customers reduces significantly |
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| 13th | Energy Efficiency and Conservation Authority announces an energy audit scheme for commercial and industrial premises |
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| | | Hydro storage stabilised at around 1350GWh |
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| | Daily average spot prices fall to 6-10c/kWh by mid August |
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| 27th | Launch of a trading market for electricity savings identified by firms |
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| September | | Daily average spot prices settle between 5-10c/kWh |
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| | Conservation and energy efficiency campaigns have saved over 450GWh of hydro storage |
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| | Hedges start to become available again |
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| 10th | Minister of Energy announces:
- that the risk of an electricity crisis is diminished – call for conservation savings eased
- the Terms of Reference for a Review of the events of the past winter
- that weekly stakeholder meetings will end.
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