31 Oct 2012

NZ Windfarms revenue down

12:09 pm on 31 October 2012

New Zealand Windfarms says revenue from electricity sales fell by a third in the three months to September, compared with the same period last year.

Lower than average wind speeds for the quarter meant that electricity output was below forecast, while the average electricity price received for the quarter was also lower than forecast.

Revenue was nearly $1.4 million on 24,000 megawatts, down from 32,000 last year.

The average electricity price fell 12% to $56.61.