The Electricity Authority said market options were available to big power users during the winter price spike that some blamed for their closure.

The closures prompted the EA – the regulator – to investigate the options available to big power users, and it found hedges available tended to be lower than the overlapping average ASX price at the time.

Last month, a number of Kiwi businesses, including Pan Pac, Winstone Pulp and Oji were forced to close, citing surging electricity costs.

ERANZ chief executive Bridget Abernethy says the prices were higher than usual - but the companies had alternative options to bring their costs down.

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