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But dry weather, gas shortages, and a long spell of relatively low investment in new generation have combined to send spot market prices soaring above 30 cents a kilowatt-hour for much of this year. Spot market prices have been reflected in steep rises in electricity futures prices, which are threatening to flow though into broader price rises for small businesses and consumers. The proportion of electricity generated by renewables has slipped below 80 per cent as the Huntly Power Station burns more coal to keep the lights on. Woods acknowledged the share of electricity produced by renewables would have fallen in both 2019 and 2020 but said it was too soon to say if it would fall for a third consecutive year, this year

New zealand generalNew zealandLake onslowLuke blincoeMegan woodsJohn harbordMax bradfordCameron burrowsBarbara kurigerElectricity retailers associationMinistry of businessElectricity authorityElectricity corporationMajor electricity users groupEnergy minister megan woodsElectricity price review