Meridian Energy monthly operating report for April 2022

Linked here is Meridian Energy Limited's monthly operating report for the month of April 2022.

Highlights this month include:

▪ In the month to 15 May 2022, national hydro storage decreased from 81% to 76% of historical average
▪ South Island storage was unchanged at 73% of average and North Island storage decreased to 101% of average by 15 May 2022
▪ Meridian’s April 2022 monthly total inflows were 71% of historical average
▪ The Waiau catchment has now seen seven consecutive months of below average inflows. Over that period inflows have been 61% of historical average
▪ Meridian’s Waitaki catchment water storage at the end of April 2022 was 79% of historical average
▪ Water storage in Meridian’s Waiau catchment remained below average at the end of April 2022
▪ National electricity demand in April 2022 was 2.3% lower than the same month last year
▪ April was another warm, dry month for the country. Almost all regions experienced above average temperatures and below average rainfall
▪ Meridian made calls under the Genesis swaption in April 2022 and early May 2022
▪ March was a warm month for most of the country. Rainfall was generally below average, the notable exception was the east of the North Island
▪ New Zealand Aluminium Smelter’s average load during April 2022 was 561MW
▪ Meridian’s New Zealand retail sales volumes in April 2022 were 3.1% higher than April 2021
▪ Compared to April 2021, segment sales increased in residential +4.8%, small medium business +10.5%, large business +11.8% and corporate +6.8%. Agricultural volumes were -18.6% lower than April 2021

ENDS
Neal Barclay
Chief Executive
Meridian Energy Limited