MRP
24/10/2014 08:58
QUARTER
REL: 0858 HRS Mighty River Power Limited (NS)
QUARTER: MRP: Quarterly Operational Update
Quarterly Operational Update for the Three months ended 30 September 2014
Electricity generation up 10%
Mighty River Power's operating statistics for the quarter to 30 September
2014 demonstrate a lift in total generation by 10% (170GWh) on the prior
comparable period (pcp). Hydro generation was up 66GWh to 929GWh - but below
average due to a continuation of weak inflows into the Waikato catchment.
Lower inflows during the quarter saw higher generation at Southdown Power
Station which provided support to Taupo storage and preservation of
transmission benefits.
Base-load geothermal generation was consistent with the same period last
year, which includes production from Ngatamariki from 1 July 2013
(pre-commissioning in September 2013). Geothermal generation during the
quarter was impacted by the temporary de-rating of Nga Awa Purua (rotor
replacement due late CY2015) and temporary fuel constraints at Ngatamariki.
The connection of a new make-up well at Ngatamariki was completed
mid-October, and the plant is now back to producing at full capacity.
Energy prices down 2%, commercial sales volumes down
Mighty River Power's average electricity sales price to residential and
commercial customers was $121.06/MWh, down 2% on the pcp, and consistent with
an industry-wide trend reflecting intense retail competition. Overall
customer sales volumes were down 98GWh (7% on pcp) reflecting lower
commercial volumes as the Company continued to manage its commercial sales
book for value. Volumes in the residential market were in-line with the same
period last year reflecting increased national consumption of electricity
which was almost back to 2012 levels.
Smart meter deployment gains momentum
The quarter saw a lift in the number of AMI smart meters deployed by the
Company's metering business, Metrix, with 9,000 units installed during the
period in mainly Auckland and Dunedin - bringing the total to 351,000.
Metrix was recently confirmed as the national metering provider for
Trustpower, which includes the deployment of smart meters to Trustpower's
225,000 residential customers, starting in 2015.
Mighty River Power will release its financial results for the 6 months ending
31 December on 24 February 2015.
End CA:00256789 For:MRP Type:QUARTER Time:2014-10-24 08:58:43
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
