Mathematical modelling of Wairakei geothermal field is reviewed, both lumped-parameter and distributed-parameter models. In both cases it is found that reliable predictions require five to ten years of history for calibration. With such calibration distributed-parameter models are now used for field management. A prudent model of Wairakei, constructed without such historical data, would underestimate field capacity and provide only general projections of the type of changes in surface activity and subsidence.