Investor news

Meridian Energy Limited's monthly operating report for the month of March 2021 can be found here

Mike Roan (CFO) and Owen Hackston (Investor Relations Manager) will host a quarterly operating result call via a Microsoft Teams Live event today, Tuesday 20 April at 11am NZST (9am AEST).

You can join the call at 11am at the link below.

Meridian Energy Quarterly Operating results - Microsoft Teams Live Event

Please submit any question using the Q&A panel on the right-hand side of the call window. If the Q&A
panel doesn’t automatically appear, please select the small ‘?’ speech bubble.

Highlights this month include:

  • In the month to 13 April 2021, national hydro storage decreased from 70% to 59% of historical average
  • South Island storage decreased to 59% of average and North Island storage decreased to 57% of average by 13 April 2021
  • Meridian’s March 2021 monthly total inflows were 69% of historical average
  • Meridian’s Waitaki catchment water storage at the end of March 2021 was 58% of historical average
  • Water storage in Meridian’s Waiau catchment was below average at the end of March 2021
  • National electricity demand in March 2021 was 2.1% higher than the same month last year
  • March 2021 saw above average temperatures and lower than average rainfall across much of New Zealand. Soil moisture levels in eastern parts of the country are below average
  • Meridian made calls under the Genesis swaption in March and April 2021
  • Outages have been confirmed out to December 2021 on the Roxburgh-Livingstone line as part of the Clutha Upper Waitaki Lines Project
  • New Zealand Aluminium Smelter’s average load during March 2021 was 569MW
  • Meridian’s New Zealand retail sales volumes in March 2021 were 15.4% higher than March 2020
  • Compared to March 2020, segment sales increased in: SME +26.8%, agricultural +10.9%, corporate +23.9%. Sales were lower in residential -2.7% and large business -1.6%
  • March 2021 capex included the first payment to Siemens Gamesa under the Harapaki wind farm contract

Highlights for the third quarter include:

  • Meridian’s Q3 total inflows were 70% of historical average and 31% lower than Q3 last year
  • Meridian’s Waitaki catchment water storage at the end of Q3 was 82% lower than Q3 last year
  • Compared to Q3 last year, Meridian’s New Zealand generation was 16.5% lower at a 266.0% higher average price
  • During Q3, NZ futures prices lifted significantly across all future quarters
  • New Zealand Aluminium Smelter’s average load during Q3 was 565MW compared with 590MW in Q3 last year 
  • National electricity demand in Q3 was 2.2% lower than Q3 last year
  • At the end of Q3, Meridian’s New Zealand customer numbers were 5.7% higher than the same time last year
  • Compared to Q3 last year, Meridian’s NZ retail sales volumes were 8.2% higher at a 0.1% lower average price
  • All segments showed increased sales, except agricultural, which decreased 3.7%
  • Compared to Q3 last year, Meridian’s Australian wind generation was 10.5% lower at a 91.7% lower average price
  • Hume water storage finished Q3 with more than 200% more storage than Q3 last year 
  • At the end of Q3, Meridian’s Australian electricity customer numbers were 5.7% higher the same time last year 
  • Compared to Q3 last year, Meridian’s Australian retail sales volumes were 8.8% higher at an 8.7% lower average price
  • Compared to Q3 last year, Meridian Group Operating costs were 1.0% lower and Stay in Business Capital Expenditure was 2.9% lower.

ENDS

Neal Barclay
Chief Executive
Meridian Energy Limited

 

For investor relations queries, please contact:
Owen Hackston
Investor Relations Manager
021 246 4772
For media queries, please contact:
Meridian Energy Media Team
0800 948 843 

MediaTeam@meridianenergy.co.nz