Just when you though it was "safe to go back in the water" something unexpected happens, in this case the approximately 160 MW geothermal station Tauhara B that was due to be fully commissioned this year, is now delayed until Q4 of next year.

Overall, the response of ASX electricity futures prices to this news is relatively muted, with an increase of about $10/MWh in the two winter quarters next year, and about $20/MWh in Q1 of next year, although the latter probably has an element of increase due to falling lake levels.