Meridian Energy monthly operating report for January 2023

  • Investor news

Attached is Meridian Energy Limited's monthly operating report for the month of January 2023.
Highlights this month include:

  • In the month to 14 February 2023, national hydro storage decreased from 116% to 111% of historical average
  • South Island storage decreased to 103% of average and North Island storage increased to 166% of average by 14 February 2023
  • Meridian’s January 2023 monthly total inflows were 46% of historical average
  • Waiau catchment inflows in January 2023 were 19% of historical average, the lowest January inflows on record
  • Meridian’s Waitaki catchment water storage at the end of January 2023 was 99% of historical average
  • Water storage in Meridian’s Waiau catchment was 29% of average at the end of January 2023
  • National electricity demand in January 2023 was 1.2% lower than the same month last year
  • January 2023 saw above average temperatures. Unprecedented North Island rainfall totals contrasted with South Island rainfall that was well below average
  • New Zealand Aluminium Smelter’s average load during January 2023 was 575MW
  • Meridian’s New Zealand retail sales volumes in January 2023 were 1.8% lower than January 2022
  • Compared to January 2022, segment sales increased in residential +0.4%, small medium business +2.5%, agriculture +0.3%, large business +15.5%. Sales were lower in corporate -7.3%

Neal Barclay
Chief Executive
Meridian Energy Limited

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Owen Hackston
Investor Relations Manager
021 246 4772
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Meridian Energy Media Team
0800 948 843