Fixed Rate Plan – T's and C's before 23 March 2012

Signed before 23 March 2012

New terms and Conditions will be available for customers signed from 23 March 2012

1. The terms and conditions of Meridian’s Fixed Rate Plan (“Plan”) are additional to, and should be read in conjunction with, our Standard Terms and Conditions for the Supply of Electricity. In the event of inconsistency between the Plan terms and conditions and our Standard Terms and Conditions, the Standard Terms and Conditions shall prevail, except that clauses 9 and 16.3 of our Standard Terms and Conditions (which deal with changes to rates) will not apply to the Fixed Rates payable by you.

2. The charges applicable to your Plan are set out in our offer. Subject to paragraph 4 below, the rates set out under the “Fixed Rate” section in our offer are fixed during the term of the Plan.

3. The Electricity Authority Levy charge set out in our offer is not fixed and may be changed during the term of the Plan, provided we have advised you of that change in accordance with our Standard Terms and Conditions for the Supply of Electricity.

4. All the rates quoted in our offer are stated inclusive of Goods and Services Tax (“GST”). If the amount of GST that applies to those rates changes during the term of the Plan, we may change the quoted rates to reflect that change to GST, provided we have advised you of that change in accordance with our Standard Terms and Conditions for the Supply of Electricity.

5. Meridian may recover any additional governmental or regulatory charges that it incurs during the term of the Plan and which are not otherwise provided for in paragraphs 3 and 4 above, provided we have advised you of the change in accordance with our Standard Terms and Conditions for the Supply of Electricity.

6. The prompt payment discount set out in our offer will be applied to the total amount due, provided we receive payment from you in full and by the due date shown on your invoice. Overdue amounts are not eligible for prompt payment discount.

7. Commencement Date:

a) If you are a new Meridian customer who has switched to Meridian from another electricity retailer, “Commencement Date” is the date that Meridian starts to supply you electricity (as recorded in the “Registry” which is the database used by the electricity industry to record and manage the electricity supply information).

b) If you are an existing Meridian customer who has switched from another Meridian plan to the Plan, “Commencement Date” is the date on which you agree to and accept the terms and conditions of the Plan.

8. Expiry Date: The Plan will expire on the Expiry Date, unless it terminates at an earlier date in accordance with these terms and conditions. “Expiry Date” means the last day of the month in which your Plan is due to expire. (For example, if the Commencement Date of a two year Plan is 4 July 2008, the Plan would expire on 31 July 2010).

9. Prior to the Expiry Date, Meridian will advise you of the applicable plans and/or rates available to you and you must agree and accept the terms and conditions of a new plan or switch to another retailer, with effect from the Expiry Date. If you fail to do so, you will be deemed to have accepted the applicable Meridian Rate Plan for your area from the Expiry Date until you advise us otherwise. If we have not advised you of the applicable plans and rates available to you before the Expiry Date, we agree to continue to supply electricity to you under the terms and conditions of the Plan and this clause will only apply when we contact you regarding the expiration of your Plan.

10. Relocation: Meridian’s Fixed Rates differ between Network regions and meter configurations, and are not available in some Network regions and/or with some meter configurations. This means that if you move premises before the Expiry Date the following will apply:

a) if Meridian makes a Fixed Rate plan available at your new location, you may remain on the Plan, however the rates that will apply will be the rates applicable at that new location, as at the Commencement Date of the Plan. You will be charged at the rates applicable to your new location from the date that Meridian is recorded on the Registry as the retailer of the Installation Control Point(s) (“ICP(s)”) located at your new premises (“Transfer Date”).

b) if Meridian does not make a Fixed Rate plan available at your new location, then before you relocate you must either:

(i) accept and agree to a new plan, in which case the Plan will terminate on the Transfer Date and your new plan will apply to electricity we supply to your new premises after that date; or

(ii) switch to a different electricity retailer, in which case the Plan will terminate on the date your new electricity retailer is recorded on the Registry as the retailer at the ICP(s) located at your new premises and exit fees will apply in accordance with paragraph 11 below.

11. Early Termination: If you terminate the Plan and switch to a different electricity retailer before the Expiry Date you may be charged an exit fee of $75 (including GST) for each ICP serviced under the Plan (“Serviced ICP(s)”). The fee will be applied to your final electricity invoice for each Serviced ICP.

You may switch any or all of your Serviced ICPs from the Plan to another Meridian plan at any time. In these circumstances the Plan will cease to apply to the switched Serviced ICPs (or will terminate if all Serviced ICPs under the Plan are switched to a new Meridian plan), and the new plan will commence, on the date on which you agree to and accept the terms and conditions of the new plan. For the avoidance of doubt, exit fees will not apply to any Serviced ICP(s) where Meridian remains the electricity retailer for that ICP.

12. Termination - The Plan will terminate if:

a) you terminate the Plan by notifying one of our Business or Customer Service Representatives, in which case the Plan will cease to apply:

(i) if you switch to another electricity retailer, on the date that your new electricity retailer is recorded on the Registry as the retailer of the Serviced ICP(s) and paragraph 11 will apply if this date occurs prior to the Expiry Date; or

(ii) if you remain with Meridian but switch to another plan, from the date you accept and agree to the terms and conditions of the new plan.

b) you move premises as described in paragraph 10 above and do not remain on the Plan. In these circumstances the Plan will cease to apply on the date determined in accordance with paragraph 10;

c) you advise another electricity retailer that you wish to switch your electricity supply. In these circumstances the Plan will cease to apply on the date your new electricity retailer is recorded on the Registry as the retailer of the Serviced ICP(s);

d) the capacity or metering configuration of the Serviced ICP(s) changes and Meridian determines, at its sole discretion, that it no longer wishes to make the Plan available to those ICPs. In these circumsntances Meridian will give you at least 30 days written notice of the date on which the Plan will cease to apply and will advise you of the alternative plans and rates available to you after that date; or

e) Meridian disconnects you pursuant to clause 12 of our Standard Terms and Conditions. If you are later reconnected by us, we will have no obligation to make a Fixed Rate plan available to you, irrespective of whether such a plan would otherwise be available at your location and/or for your metering configuration.