Week Three Summary - COVID & NZ Energy sector

9 Apr 2020

We are now two weeks into our Level 4 lockdown, with much of the country getting into the swing of our new normal. Energy demand seems to be stabilising at 10 to 18% below our typical consumption, with much of the larger C&I consumers now completing their shutdowns (excluding Tiwai Point). There has been some interesting evening spikes, which are likely to be due to falling temperatures.

The following blog continues on from our first two summaries, outlining some of the key changes to the energy sector since the 25th of March 2020.

Demand

In the past week, demand has settled, being on average between 10 & 18% below our typical energy demand for this time of year. In the last week, we have noted some evening spikes, which are likely linked to the falling temperatures as a cold front moves up the country.

As noted last week, the morning peak is still kicking in later in the day much of the population working from home and no longer commuting. The evening peaks and drop offs are still occuring at similar times, with the demand spikes likely to be linked to heating.

The following graph looks at NZ’s total demand for every Wednesday since the 11th of March. You will notice in the last two weeks, the demand profile has become more consistent, highlighting the new normal for NZ whilst we remain in lockdown.