Annual Planning Report 2012 - Transpower

Chapter 4: Demand Assumptionsmethodology. The forecast now grows at an average rate of 1.7% per annum from2012 to 2027.The demand seen in recent years has been affected by a range of factors. The firstpart of 2008 was affected by dry weather, resulting in higher market prices and aconservation campaign, which both reduced demand. In 2009, demand was lowcompared with 2006 and 2007 due in part to reduced Tiwai production. Later, thefinancial crisis reduced economic activity affecting commercial/industrial demand.This impact has continued into 2009 and 2010.In 2011, we have seen a higher national peak recorded. This occurred during theunusual polar weather event that affected the whole country in mid-August. Heavysnow fell over much of the country and numerous new August low temperatureextremes were observed driving higher household heating demand. At a regionallevel there are also differences in our prudent forecasts when compared to last year.See the relevant regions’ chapters for more information.342012 Annual Planning Report © Transpower New Zealand Limited 2012. All rights reserved.