In South Island is now $0.03/MWh, compared to the $300,000/MWh that it got to last week. Although this is the result of a rather unique situation with demand crashing due to a lockdown, it illustrates why the generators don't like having excess capacity available.
South island is almost exclusively hydro. This is probably a result of there being enough generation that has to generate no matter what, and a lack of capacity to send power north due to the HVDC partial failure.
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