Big power users accuse generators of bogus hedge argument

Big electricity users like the Pan Pac mill in Hawke’s Bay struggle to hedge against persistently high power prices. (Image: NZME)

Pattrick Smellie

Wed, 28 May 2025

Electricity generators are pushing an “unhelpful narrative” that seeks to blame their largest customers for failing to hedge against high wholesale electricity prices when those prices are now a long-term phenomenon.“Some generators, several of whom have been earning record profits in recent years while businesses have been closing due to high prices, have tried to deflect attention onto consumers,” a paper from the Major Electricity Users’ Group (MEUG) said.They were calling for more disclosure of requirements on...

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