Power Plays: Navigating New Zealand’s Electricity Market

It’s been a charged year for New Zealand’s electricity market, and not just because of the literal power surges. Earlier in the year, a perfect storm of low hydro lake levels, lacklustre wind, and a gas shortage sent electricity prices through the roof. Headlines buzzed with warnings of market dysfunction, with some pointing fingers at a lack of competition and an underinvestment in generation. With wholesale electricity prices and lake levels having returned closer to normal levels, we ask if the headlines are a fair reflection of reality.

By David Fyfe, Portfolio Manager

Critics often argue that New Zealand’s electricity system lacks sufficient investment in new generation capacity, contributing to price volatility and supply pressures. However, the numbers tell a different story. Over the past two decades, billions of dollars have been invested in renewables, even amidst significant market uncertainty...MORE»

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Why the Reserve Bank should cut interest rates by a further 1% before Christmas Monday, October 14th, 4:02PM Last week the RBNZ came through with a “super-sized” rate cut of 0.5% that many economists proclaimed they had predicted. The move was not exactly a huge call given the state of the economy. Another 25bps was arguably an option, and investors took heart that the cut was larger. A more aggressive central provides a prospective tailwind for exporters. Falling interest rates significantly boost the appeal of high dividend companies. MORE»		Harris or Trump? It doesn’t matter for investors Thursday, October 10th, 5:47PM Whether the Democrat’s Kamala Harris (from the blue team) or the Republican’s Donald Trump (from the red team) becomes the next President of the United States, will likely have little or no impact on longer term investment returns, according to Insync Funds Management (Insync). MORE»

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