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Hydro power: More dry weather may mean blackouts, switch to coal-generated
29 Apr, 2021 01:34 AM
4 minutes to read
Lake Pukaki right now. Photo / Matthew Clark
RNZ
By Charlotte Cook of RNZ
National grid operator Transpower says the hydro lake levels are at 67 per cent of where they would normally be at this time of year, but there is no cause for worry yet.
New Zealand s biggest energy consumer, the Tiwai Point aluminium smelter, today agreed to cut down how much power it uses for a month to secure supply for the country.
The smelter consumes about 13 per cent of the country s power and it will reduce its hourly use by up to 30.5MW.
National grid operator Transpower says the hydro lake levels are at 67 percent of where they would normally be at this time of year, but there is no cause for worry yet.
The Manapōuri catchment area has had just 77 percent of its normal rainfall so far this year.
Photo: 123rf
The smelter consumes about 13 percent of the country s power and it will reduce its hourly use by up to 30.5MW.
A spokesperson said the decision would ensure there was enough supply for the rest of New Zealand. We are pleased to now be in position to be able to do more to assist New Zealand s security of supply for all customers should the lake levels not be replenished in the short term.
4 Min Read
TORONTO/LONDON, Dec 17 (Reuters) - Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and market participants expect more deals in 2021.
The RSA deal is one of the largest examples of insurers pulling in buyers this year, as a sharp rise in premiums has outweighed hefty coronavirus pandemic claims.
International deals in insurers involving Canadian investors rose to $11.6 billion in 2020, the highest in at least two decades, according to data from Refinitiv.
That places Canadian investors as the third biggest investors in insurance deals, behind the UK and the United States, according to the data. Last year, Canadian investors were the fifth largest in the space.
Canada Reports 20-Year High in Overseas Investment in Insurance M&A
Canadian firms’ overseas investment in insurers hit a 20-year high this year boosted by Intact Financial’s joint agreement last month to buy British insurance group RSA for 7.2 billion pounds ($9.6 billion) and market participants expect more deals in 2021.
The RSA deal is one of the largest examples of insurers pulling in buyers this year, as a sharp rise in premiums has outweighed hefty coronavirus pandemic claims.
International deals in insurers involving Canadian investors rose to $11.6 billion in 2020, the highest in at least two decades, according to data from Refinitiv.