The cost of power to Meridian and our power bills

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timmmay

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#113988 4-Feb-2013 07:44

This article suggests what Meridian has charged for their power has dropped by around 50% in the past year. My power bill went up.

It must be nice to be in a cartel controlling a commodity everyone in the country requires.

Ragnor

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#755421 4-Feb-2013 10:25

Yes the average wholesale price they sold power to retailers for was half the price ($31.21/MWh vs $60.88/MWh) for the quarter ending Dec 2012 due to over supply (hydro and wind generation increased significantly).

If the price remains low for consecutive quarters you would expect to see it flow through to retailers prices.

Too early to call for the pitch forks, price may be back to $60/MWh or even $90/MWh next quarter, the amount of power generated from wind/hydro does vary a lot. Other generators have variable production too.

http://www.meridianenergy.co.nz/assets/Uploads/Quarterly-operating-result-for-December-quarter.pdf

ajw

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#755432 4-Feb-2013 10:41

Lid blown on power price rort. Who else feels that residential customers are being used as captive cash cows.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10863135

gzt

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#755433 4-Feb-2013 10:46

I'd guess retailers will be paying more if lake levels are an issue. Maybe it will even out over the year for them.

The overall upward trend in retail you identify is consistent with this herald article from yesterday:

"Consumers pay up as companies revalue assets. Kiwi power prices have increased at twice the rate of most other countries over the past three decades"

Behodar

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#755449 4-Feb-2013 11:18

I've been with Energy Online for maybe 15 months and my bill has not increased over that time (it actually decreased when Tiny Mighty started up in my area). Shop around and you might be able to find a better deal than what you have now.

NB: Lines company here is Horizon. Other areas may of course have higher (or lower) prices.

Hammerer

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#755851 5-Feb-2013 01:41

gzt: The overall upward trend in retail you identify is consistent with this herald article from yesterday:

"Consumers pay up as companies revalue assets. Kiwi power prices have increased at twice the rate of most other countries over the past three decades"

I think at twice the rate they should here. For me the price increases have been double inflation.

For the 20 years from the end of 1992 to the end of 2012 my power prices have increased 128% while inflation (http://www.rbnz.govt.nz/statistics/0135595.html) has been half that at 56%. This is for 12,000 kWh p.a. which is the least we use.

sbiddle

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#755861 5-Feb-2013 07:27

Everybody needs to remember electricity generation, lines, and retail electricity supply are three entirely seperate businesses.

New World

Shop on-line at New World now for your groceries (affiliate link).

hairy1

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#755889 5-Feb-2013 08:21

sbiddle: Everybody needs to remember electricity generation, lines, and retail electricity supply are three entirely seperate businesses.

Yeah, but surely the lines and retail businesses only increase their costs at a maximum of inflation. From an outsider looking in the generators are the only ones with hugely variable pricing. The delivery and retail strikes me as being like any other business like a trucking firm or grocery delivery business.

My views (except when I am looking out their windows) are not those of my employer.

hairy1

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#755968 5-Feb-2013 10:54

hairy1:
sbiddle: Everybody needs to remember electricity generation, lines, and retail electricity supply are three entirely seperate businesses.

Yeah, but surely the lines and retail businesses only increase their costs at a maximum of inflation. From an outsider looking in the generators are the only ones with hugely variable pricing. The delivery and retail strikes me as being like any other business like a trucking firm or grocery delivery business.

Actually. Scratch that. I don't know what I was thinking.... Our watercare water costs have doubled this year under the super city and the delivery has not changed one bit. Screwed by monopolies....

My views (except when I am looking out their windows) are not those of my employer.