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Reserve generation: swimming against the current?

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  • Seamus Hogan

Abstract

During the winters of 2001 and 2003, low water-levels in New Zealand's key hydro lakes created the prospect of insufficient electricity-generation capacity - and electricity blackouts. At the same time, the spot market for electricity experienced high price volatility. While a range of voluntary consumption-reduction measures helped avert compulsory blackouts and brought down spot-market prices in both years, the government decided to try to forestall a repeat of these episodes by creating an Electricity Commission whose main role was to ensure security of supply by maintaining dry-year reserve-generation capacity. Three years on, Seamus Hogan evaluates the thinking behind this.

Suggested Citation

  • Seamus Hogan, 2006. "Reserve generation: swimming against the current?," Competition & Regulation Times 375703, New Zealand Institute for the Study of Competition and Regulation.
    • Handle: RePEc:vuw:vuwcrt:375703
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    File URL: https://ojs.victoria.ac.nz/crt/article/view/3757
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