(Bloomberg) -- New Zealand power prices jumped to a five-month high after a breakdown at Contact Energy Ltd.'s biggest gas-fired generator cut supplies and a cold snap increased demand.
Output from the 380-megawatt Otahuhu plant was cut mid-week after the company had to fix a fault in the generator's steam turbine, spokesman Bruce Parkes said today. The breakdown occurred as cold weather increased heating demand and also forced up the cost of generators held in reserve during testing of coal and gas units at Genesis Power Ltd.'s Huntly site, power market operator Marketplace Co. said.
Read more at Bloomberg Energy News
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