Utility Boasts Geothermal Now NZ’s Second Electricity Fuel Source
Mighty River Power has released its latest Quarterly Operational Update for the three months ended 31 December 2014
During the second half of CY2014 New Zealand reached a significant milestone in renewable electricity supply, with geothermal generation replacing gas as the second most important electricity fuel source behind hydro. Geothermal generation has increased by more than 150% in the past decade. Unsubsidized investment, including $1.4 billion by Mighty River Power, has boosted geothermal output from 6.5% of national supply, to 16%. Geothermal is the only renewable not dependent on the weather – running 24/7. It has played an important role in displacing non-renewable generation, and overtaken both coal and gas-fired generation in the past six years, cutting millions of tonnes of emissions. Geothermal made up 40% of Mighty River Power’s total generation for the quarter.
