Price spike drives electrical utilities’ sales
Electricity, gas, water, and waste services industry sales rose 32 per cent, or $1.7 billion, in the June 2021 quarter, Stats NZ says.
“The utilities industry is largely dominated by electricity generation sales, and the high electricity index prices in the June quarter drove this industry to a record high for seasonally adjusted quarterly sales,” says business statistics manager Sue Chapman.
The output price index for electricity and gas supply reached a record high in the June 2021 quarter, off the back of large increases in the March 2021 quarter.
“All 26 industries had increases in quarterly sales in the June 2021 quarter, up from the Covid-affected June 2020 quarter. Construction led the way with the highest percentage rise, up over 50 per cent this June 2021 quarter compared to last June,” says Sue.
Construction sales rose $7.2 billion (54 per cent) in the June 2021 quarter, from the June 2020 quarter, after adjusting for seasonal effects. Construction sales increased $326 million (1.6 per cent) from the March 2021 quarter.
“There has been a flurry of construction activity since the lockdown in April last year. Other key industries that flow into construction have also seen sales increases this quarter, such as glass, timber, concrete, and steel producers, as well as engineering and architectural services,” says Sue.