Weather changes ‘significant’ for wholesale energy prices
The rural sector needs to keep its finger on the weather pulse, but the energy sector also keeps a close eye on it too.
Genesis derivatives manager Julian McCree joins Rural Exchange to share his expertise in the electricity wholesale markets and emissions trading.
“Changes in the weather can be really significant,” he says.
Mr McCree explains that with the current weather, lake levels and snowpack in Waitaki have been lower than usual.
Wholesale market prices have responded to this.
For example, he explains that December has seen wholesale energy spot prices “about 3x what they normally are.”
For more information, watch the full interview with Julian McCree above.
Energy is a regular feature on REX, thanks to the experts at Genesis Energy. If you have any questions or want to find out more, visit their website.
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