Electricity market summary - 31 October 2004

Wholesale electricity market summary for the week ending 31 October 2004

Spot Market Daily Average Reference Point Prices 0.00 2.00 4.00 6.00 8.00 10.00 3 Aug 18 Aug 2 Sep 17 Sep 2 Oct 17 Oct

Price (c/kWh)

Otahuhu Haywards Benmore 24-Oct 25-Oct 26-Oct 27-Oct 28-Oct 29-Oct 30-Oct 31-Oct Sun Mon Tue Wed Thu Fri Sat Sun

Daily Average Reference Price (c/kWh)

Otahuhu 2.68 2.53 3.27 3.35 3.62 3.79 3.44 2.83

Haywards 2.63 2.45 3.20 3.43 3.56 3.84 3.41 2.80

Benmore 2.56 2.40 3.09 3.36 3.45 3.71 3.35 2.74

Haywards 1 month ago 3.15 3.23 4.41 3.85 4.14 4.06 3.76 3.94

Haywards 1 year ago 3.11 3.33 3.70 4.53 6.08 4.21 4.69 4.31

M-co Electricity Price Index (c/kWh)

New Zealand 3.39 3.22 3.19 3.16 3.20 3.25 3.25 3.26

New Zealand 1 month ago 3.04 3.15 3.45 3.66 3.78 3.91 3.94 4.07

New Zealand 1 year ago 2.53 2.72 3.01 3.33 3.90 4.20 4.37 4.51

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

24-Oct 25-Oct 26-Oct 27-Oct 28-Oct 29-Oct 30-Oct 31-Oct

Sun Mon Tue Wed Thu Fri Sat Sun NZ Demand (GWh)

Total 89.2 90.2 103.9 103.8 103.9 105.1 94.6 91.2 7 days ago 92.2 107.4 106.9 106.9 104.2 102.9 93.2 89.2 7 day change -3.2% -16.0% -2.8% -2.9% -0.3% 2.2% 1.6% 2.2% Total 1 month ago 97.0 107.4 113.7 111.4 111.1 109.7 99.3 93.7 Total 1 year ago 86.6 88.4 101.4 102.0 104.8 99.7 91.1 89.4

NZ Generation Output (GWh)

NI Hydro 21.1 23.8 24.7 22.3 22.6 21.8 21.2 20.2

NI Other 31.6 30.0 37.4 40.6 39.1 40.4 34.4 32.9

SI Hydro 37.5 37.4 43.1 42.1 43.7 44.4 40.1 39.0

Total 90.2 91.1 105.2 105.1 105.4 106.5 95.7 92.1

NI Hydro 1 month ago 18.3 19.1 24.0 22.5 22.7 21.0 19.0 17.4

NI Other 1 month ago 28.9 35.8 35.4 35.2 34.7 34.6 31.7 29.8

SI Hydro 1 month ago 52.1 55.0 57.1 56.0 56.3 56.5 50.4 48.2

NI Hydro 1 year ago 17.6 19.2 23.6 24.3 23.5 21.3 18.5 19.7

NI Other 1 year ago 22.6 23.3 26.3 27.4 30.6 28.8 25.8 23.8

SI Hydro 1 year ago 50.1 49.6 56.0 54.9 55.3 54.1 50.9 50.0

Inter-Island Transmission Transfers (GWh)

South to North 4.3 3.7 6.1 4.4 5.8 5.5 4.2 5.3 North to South 0.2 0.9 0.5 0.5 0.8 0.0 0.5 0.5 South to North 1 month ago 16.6 16.1 14.8 15.1 16.3 15.9 13.2 13.0 South to North 1 year ago 14.8 13.9 16.1 16.1 16.4 16.5 15.7 15.1

Hydrology (GWh) Storage 2133 2145 2141 2138 2135 2176 2191 2196 % of average 90% 91% 90% 90% 90% 91% 92% 92% Inflows (GWh/day) 59 74 72 66 63 90 97 74 % of average 72% 90% 87% 80% 76% 109% 117% 90% Storage % of average 1 month ago 99% 99% 99% 98% 97% 96% 95% 94% Storage % of average 1 year ago 97% 96% 95% 94% 94% 94% 94% 93%

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.

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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