Does New Zealand have an energy storage advantage?

Australia’s energy market operator expects rooftop solar (which already supplies almost three times as much electricity annually as gas generators do) will become the dominant source of electricity supply over the next two decades. None of those countries have the energy storage advantage New Zealand has.

How many electricity trading companies are there in New Zealand?

As of June 2024, there are 47 electricity trading companies in the New Zealand market. Most of these only supply residential customers or are extremely niche players supplying few electricity connections. Big Four’s Influence: Market Control and Pricing

How much electricity does New Zealand generate a year?

On a yearly basis, then, New Zealand can generate more than 47TWh from solar, wind and hydro, with some firming from the grid-scale batteries. That excludes the other baseload generators - geothermal, co-generation (where electricity is generated alongside heat production at industrial sites such as paper mills) and biomass.

What type of electricity is used in New Zealand?

The New Zealand Electricity market relies heavily on hydroelectricity, which accounts for approximately 60% of total generation in most years. This is supplemented by other baseload generation sources that are available 24/7, including geothermal, natural gas and coal.

Does New Zealand have water storage?

Despite New Zealand’s significant hydroelectric capacity, our water storage is limited, usually providing only six weeks of coverage, and often dropping below 30 days during winter. To address this, natural gas and coal are used to manage water storage and provide a top up to meet energy demand.

Is New Zealand experiencing a 'energy security crisis'?

Analysis - 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).