Court steps in on power price

File photo / Brett Phibbs

Four months after prices Genesis Energy charged for electricity from its Huntly power station spiked to nearly $20,000 per megawatt hour, the High Court has ordered a stay on publication of the final price for March 26.

The Electricity Authority later ordered those high spot market prices to be cut back to a maximum of $3000 per MWh, and had planned to publish that as the final price when court action was taken against it on Monday.

The authority says the court has blocked it setting the new price until after an August 16 hearing.

- NZPA