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Rises in the Global Dairy Trade Auction have led dairy giant Fonterra to lift its farm gate milk price. Photo: Susan Murray/RNZ Recent lifts at the Global Dairy Trade Auction have led dairy giant Fonterra to lift its farm gate milk price forecast for the current season. It's up 50 cents to $8.50 per kilogram of milk solids. However, Fonterra said it was still early in the new season, and it was maintaining a broad forecast range of $7-75 to $9-25 per kilo. The average price at GDT lifted 5.5 percent on Wednesday to US$3920/tonne, (NZ$6495/tonne) while the whole milk powder price which strongly influences the payout for local farmers rose 7.2 percent to US$3482/tonne. Alongside the lift in milk price forecast, Fonterra lifted its advance rate schedule and advised its FY24 earnings were f...

Taupō mayor David Trewavas Photo: RNZ / Dom Thomas Two central North Island mayors are pleading with the government to bail out a pulpmill which is planning to close due to skyrocketing electricity prices. Winstone Pulp falls within Ruapehu Mayor Weston Kirton's jurisdiction. He wants "a lifeline" similar to what had been seen in other cases, he said pointing to Tiwai Point. "Some sort of subsidy, a lifeline just over this period. There's obviously lake levels and low production but just over the next few months there is going to have to be some sort of rebate to actually accommodate this situation." Kirton said there was no way the company could have predicted power prices rising as quickly and as high as they had. Neighbouring Taupō Mayor David Trewavas said he felt for Kirton, and ...

Kaitorete Spit, south of Christchurch, is the jewel in the crown of launch sites. Photo: Supplied / Tāwhaki National Aerospace Centre Work on setting up an international spaceport at New Zealand's best site for launching rockets is in strife. The government is pulling back at Kaitorete Spit, south of Christchurch, without signing up a single international customer and despite its high aerospace ambitions. Facing east in largely empty skies, Kaitorete is the jewel in the crown of launch sites, even by world standards. But the fledgling national aerospace centre Tāwhaki has failed in early efforts to attract international investors, has underspent its $4 million a year budget and is not making enough return on investment. Space Minister Judith Collins has now rejected its request for more...

More water may be taken from hydro lakes like Pūkaki. Photo: Susan Rebergen Transpower is allowing generators to take more water from hydro lakes in September and October if needed to combat the risk of a power shortage Hydro storage is at 55 percent of the average for this time of year, among the lowest levels in around 90 years The national grid operator is not ruling out a campaign to encourage power conservation in the new year, if things get worse Some of the country's biggest electricity generators say they hope not to use more water from South Island hydro lakes - despite a move allowing them to access contingent storage. It comes after Transpower announced generators can take more water from lakes Pūkaki, Tekapo (Takapō) and Hāwea during September and October if needed, to ...