Meridian Energy monthly operating report for October 2023

  • Investor news

Linked here is Meridian Energy Limited's monthly operating report for the month of October 2023.

Highlights this month include:
• In the month to 10 November 2023, national hydro storage decreased from 116% to 100% of historical average
• South Island storage decreased to 99% of average and North Island storage increased to 106% of average by 10 November 2023
• Meridian’s October 2023 monthly total inflows were 107% of historical average
• Waiau catchment inflows in October 2023 were 97% of historical average
• Meridian’s Waitaki catchment water storage at the end of October 2023 was 125% of historical average
• Snow storage in Meridian’s Waitaki catchment was 109% of average in early November
• Water storage in Meridian’s Waiau catchment was 107% of average at the end of October 2023
• National electricity demand in October 2023 was -1.9% lower than the same month last year
• October 2023 saw large temperature swings, with the overall national monthly temperature slightly above average. Rainfall was above normal in Northland and South Canterbury and below average for most other parts of the country
• New Zealand Aluminium Smelter’s average load during October 2023 was 570MW
• Meridian’s retail sales volumes in October 2023 were -1.7% lower than October 2022
• Compared to October 2022, segment sales increased in large business +27.7% and corporate +2.4%, with decreases in residential -5.0%, small medium business -7.8% and agricultural -10.0%
• In October 2023, Meridian and NZ Windfarms announced a joint venture to repower and extend the Te Rere Hau wind farm


Neal Barclay

Chief Executive
Meridian Energy Limited

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021 246 4772
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027 838 5710