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Residents plunged into darkness last night when power generators were deliberately shut to manage record electricity demand have expressed anger and surprise at the decision. ....
Ross Giblin/Stuff Ezra Hirawani wanted his power company, Nau Mai Rā, to offer an alternative to ‘’cash or candles’’ but now the price spike in wholesale power means his company is facing a crisis. The price of wholesale power, the price at which retailers buy power from generators, has spiked, largely due to low lake levels in hydro-electric dams. It is the highest it has been since 2018. Cam Burrows, chief executive of the Energy Retailers Association, said the situation was difficult for retailers around the country. Supplied Cam Burrows, chief executive of the Electricity Retailers Association NZ, says current wholesale prices are putting the squeeze on smaller power retailers. ....
Social power company Nau Mai Ra drops 500 customers stuff.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stuff.co.nz Daily Mail and Mail on Sunday newspapers.
“We’re nearing retirement age, and don’t want to pay too much for power.” From the start of March to the start of April, he was charged between 32c and 33c/kWh by Meridian subsidy Powershop for power from the grid, and he earned 8.5c/kWh in solar rebate. A Meridian spokeswoman said the buyback rate was set with a view to the long term average price of electricity and the competitive market. The buyback rate for Powershop customers had risen by 13 per cent over the last five years. “We review our prices regularly and believe our buyback pricing is comparable to most other retailers.” ....