Rainfall needs to supply power needs all winter

Friday 13th July 2001

Opinion: Keith Turner on Electricity Prices

My estimate of my powers in comparison with those of the Almighty is a little more realistic than Shoeshine suggests (The National Business Review June 22).

The gulf between us is all too obvious when it comes to rain-making - the subject which drew Shoeshine's comparison. While the Almighty is well-known for being able to turn on a 40-day, 40-night deluge at will, my best efforts have seen our depleted storage lakes receive a mere trickle.

It is no comfort that fellow hydro generators have fared little better than Meridian, because we are now left grappling with the problem of ensuring that what rainfall we have managed to elicit lasts through the winter.

The current high wholesale prices should be seen as a warning that we must manage our water very carefully so we don't run the lakes down and cause major disruption to New Zealanders.

In the name of the national interest - not to mention commercial responsibility - Meridian is generating enough electricity to cover its contractual commitments and help ensure our water lasts the winter.

We are led not into the temptation of windfall gains from high spot prices.

For, verily, hellfire and damnation await if we heed not the lessons of 1992.

Keith Turner
Chief executive
Meridian Energy

Comments from our readers

No comments yet