Electric summary for the week ending 17 Oct 04

18 October 2004

Wholesale electricity market summary for the week ending 17 October 2004

Spot Market Daily Average Reference Point Prices 0.00 2.00 4.00 6.00 8.00 10.00 20 Jul 4 Aug 19 Aug 3 Sep 18 Sep 3 Oct Price (c/kWh) Otahuhu Haywards Benmore Otahuhu Haywards Benmore 10-Oct 11-Oct 12-Oct 13-Oct 14-Oct 15-Oct 16-Oct 17-Oct

Sun Mon Tue Wed Thu Fri Sat Sun Daily Average Reference Price (c/kWh) Otahuhu 4.72 4.23 3.78 3.53 3.71 3.07 3.42 3.33 Haywards 4.25 3.86 3.56 3.34 3.46 2.83 3.18 3.13 Benmore 4.01 3.64 3.40 3.19 3.29 2.68 3.03 3.02 Haywards 1 month ago 2.71 2.76 2.22 2.11 2.02 2.13 2.42 2.68 Haywards 1 year ago 2.96 3.31 2.48 2.86 2.98 2.92 2.96 1.01

M-co Electricity Price Index (c/kWh) New Zealand 4.29 4.11 4.06 3.98 3.86 3.68 3.52 3.37 New Zealand 1 month ago 3.08 3.01 2.86 2.75 2.62 2.50 2.45 2.46 New Zealand 1 year ago 3.44 3.31 3.09 3.04 2.96 2.91 3.01 2.78 The Marketplace Company Limited Level 2, Wool House, 10 Brandon Street, PO Box 5422 Wellington, New Zealand Telephone +64-4-473 5240 Facsimile +64-4-473 5247 Home Page http://www.m-co.co.nz Email info@m-co.co.nz page 1 of 2 10-Oct 11-Oct 12-Oct 13-Oct 14-Oct 15-Oct 16-Oct 17-Oct

Sun Mon Tue Wed Thu Fri Sat Sun

NZ Demand (GWh)

Total 96.6 105.9 103.6 103.3 103.0 101.9 95.1 92.2

7 days ago 93.7 112.9 107.7 106.7 111.5 107.5 97.5 96.6 7 day change 3.1% -6.2% -3.8% -3.2% -7.7% -5.2% -2.5% -4.6% Total 1 month ago 95.4 110.9 110.9 111.2 110.6 108.4 99.3 99.7 Total 1 year ago 91.4 104.4 104.5 102.1 101.3 98.9 89.6 86.9

NZ Generation Output (GWh)

NI Hydro 22.1 22.2 20.0 21.6 22.2 19.8 20.9 21.8

NI Other 30.4 36.1 38.4 37.6 36.3 36.1 30.7 28.9

SI Hydro 46.2 49.9 47.0 45.9 46.3 47.9 45.0 42.8

Total 98.7 108.3 105.5 105.1 104.9 103.8 96.7 93.6

NI Hydro 1 month ago 18.4 23.2 23.4 23.9 22.9 24.1 21.4 21.9

NI Other 1 month ago 32.9 37.5 37.1 36.3 36.5 33.0 28.6 28.7

SI Hydro 1 month ago 46.0 52.6 52.6 53.4 53.6 53.8 51.5 51.2

NI Hydro 1 year ago 24.2 26.6 25.4 24.9 23.7 22.7 20.5 16.8

NI Other 1 year ago 23.1 27.2 28.4 27.3 27.5 26.5 21.8 24.3

SI Hydro 1 year ago 46.1 53.3 53.3 52.3 53.0 52.3 50.1 48.1

Inter-Island Transmission Transfers (GWh)

South to North 10.6 11.4 8.3 8.4 9.0 10.4 8.4 6.9

North to South 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.2

South to North 1 month ago 10.2 12.6 12.0 12.6 12.2 12.8 13.3 13.0

South to North 1 year ago 10.8 14.8 15.3 15.0 16.3 16.6 17.1 15.5

Hydrology (GWh)

Storage 2078 2066 2062 2085 2110 2126 2145 2157 % of average 91% 91% 90% 91% 92% 92% 93% 93% Inflows (GWh/day) 60 58 57 69 79 81 73 72 % of average 76% 73% 71% 86% 99% 100% 90% 88% Storage % of average 1 month ago 90% 89% 89% 90% 91% 91% 92% 92% Storage % of average 1 year ago 75% 75% 74% 75% 76% 76% 77% 77%

The M-co Electricity Price Index is a demand weighted seven-day rolling average that smoothes out price volatility distortions. The wholesale electricity price differs from the retail electricity price, which is the price domestic consumers see on their electricity bill. The wholesale price is only one of the factors that influence retail prices.

For more information

Visit www.comitfree.co.nz or contact: Steve Gregan M-co +64 4 473 5240 About M-co M-co is a contracted provider of administration, pricing, clearing and information system services to the Electricity Commission. page 2 of 2 The above information has been prepared for the purposes of media release only. All due care has been taken in the production of this information; however, M-co accepts no responsibility or liability for the accuracy of the information contained in this media release.

ENDS

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