Meridian Energy monthly operating report for February 2022

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

Highlights this month include:

• In the month to 10 March 2022, national hydro storage decreased from 117% to 102% of historical average
• South Island storage decreased to 97% of average and North Island storage decreased to 137% of average by 10 March 2022
• Meridian’s February 2022 monthly total inflows were 120% of historical average
• In February 2022, Meridian’s Waitaki catchment inflows were 149% of average, while Waiau catchment inflows were 63% of average
• Meridian’s Waitaki catchment water storage at the end of February 2022 was 113% of historical average
• Water storage in Meridian’s Waiau catchment was well below average at the end of February 2022
• Waitaki snow storage in late February 2022 was 63% of historical average
• National electricity demand in February 2022 was 2.3% lower than the same month last year
• February was a warm and very wet month. Temperatures were at or above average, while most of the country experienced above average rainfall
• New Zealand Aluminium Smelter’s average load during February 2022 was 572MW
• Meridian’s New Zealand retail sales volumes in February 2022 were 6.9% lower than February 2021
• Compared to February 2021, segment sales increased in residential +16.2%, small medium business +21.7% and corporate +0.8%. Agricultural volumes were -47.2% lower and large business volumes were -8.6% lower than February 2021

ENDS
Neal Barclay
Chief Executive
Meridian Energy Limited