Meridian Energy monthly operating report for January 2020

Meridian Energy Limited's monthly operating report for the month of January 2020 is attached.

Highlights this month include:

• In the month to 13 February 2020, national hydro storage increased from 123% to 126% of historical average
• South Island storage sat at 127% of average and North Island storage at 117% of average on 13 February 2020
• Meridian’s January 2020 monthly total inflows were 71% of historical average
• Meridian’s Waitaki catchment storage at the end of January 2020 was 118% of historical average
• Storage in Meridian’s Waiau catchment was below average at the end of January
• National electricity demand in January 2020 was 0.8% higher than the same month last year
• Meridian made calls under the Genesis Swaption in January and early February 2020
• January 2020 saw low rainfall across much of the country, with cooler temperatures in the first half of the
  month contrasting with a warmer second half
• New Zealand Aluminium Smelter's load during January 2020 was below the contract level of 622MW
• Meridian’s New Zealand retail sales volumes in January 2020 were 25.1% higher than January 2019

ENDS 

Neal Barclay
Chief Executive
Meridian Energy Limited