Investor news

The Electricity Authority has updated its preliminary decision now saying in a final decision that an Undesirable Tradition Situation (UTS) occurred between 3 and 27 December 2019.

The Authority has concluded that a confluence of factors resulted in competitive pressure not operating in the spot market in the way normally observed.

Meridian is disappointed that the Authority concluded the event was a UTS.

Chief Executive Neal Barclay said that the company will now take time to review the detail of the decision.

Details of the final decision and Meridian’s submissions to the Electricity Authority can be viewed here.  

ENDS

Neal Barclay
Chief Executive
Meridian Energy Limited

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