Quote of the day
1 hour ago
"It is unusual for any story related to South Australia to appear on the front page of this newspaper. But when wholesale electricity prices in that state reached more than 30 times the prices recorded in the eastern states last week, the broader interest in the issue is obvious.To give you a feel for the figures, last Thursday at 1.45pm, the wholesale power price in South Australia was recorded at $1001 per megawatt hour, compared with prices of between $30/MWh and $32/MWh for the eastern states. At one point, the maximum price in the state hit $1400/MWh.
Unsurprisingly, several companies operating in South Australia, including BHP Billiton and beleaguered steelmaker Arrium, warned state Treasurer and Energy Minister Tom Koutsantonis that they might temporarily close their plants because of the high and erratic electricity prices.
But more worrying still are the medium-term prospects for the state: the chairman of the Energy Users Association warns that “large end-user customers are feeling the pain. As large customers roll off their energy contracts and need to renew those contracts, they are faced with significantly higher prices in South Australia”.
Electricity contracts for delivery next year and in 2018 are priced at between $90/MWh and $100/MWh in South Australia, compared with between $50/MWh and $63/MWh in Victoria, NSW and Queensland."
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Auckland's most high-profile empty mansion is the Spanish-style, turret-topped Herne Bay house at 81 Sarsfield St, which is thought to be worth about $15 million. It has stood empty for years and is now being demolished.