Meridian Energy monthly operating report for May 2022

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

Highlights this month include:

• In the month to 10 June 2022, national hydro storage increased from 76% to 85% of historical average
• South Island storage increased to 79% of average and North Island storage increased to 122% of average by 10 June 2022 Meridian’s May 2022 monthly total inflows were 81% of historical average
• Waiau catchment inflows were 85% of historical average in May 2022
• Water storage in Meridian’s Waiau catchment remained below average at the end of May 2022
• Meridian’s Waitaki catchment water storage at the end of May 2022 was 69% of historical average
• National electricity demand in May 2022 was 3.0% lower than the same month last year
• May 2022 was the third warmest May on record. Rainfall was mixed, with below average totals in Canterbury, Otago, and southwestern Southland
• Meridian made calls under the Genesis swaption in May 2022
• New Zealand Aluminium Smelter’s average load during May 2022 was 565MW
• Meridian’s New Zealand retail sales volumes in May 2022 were 4.4% higher than May 2021
• Compared to May 2021, segment sales increased in small medium business +7.6%, large business +8.6%, agricultural +11.3% and corporate +3.8%. Residential volumes were -1.0% lower than May 2021

ENDS

Neal Barclay
Chief Executive
Meridian Energy Limited