Meridian Energy welcomes the opening of Potline 4 at New Zealand’s Aluminium Smelter at Tiwai Point in Southland.
Meridian’s Chief Executive Neal Barclay says, “Tiwai smelter provides one of the world’s purest sources of aluminium and growing its production demonstrates to us that New Zealand is a good place to invest.
“Outcomes like these are very positive. It shows New Zealand has a world class electricity system, providing security of supply and a high proportion of renewable energy at a price that is internationally competitive” says Neal.
As well as being a good for our business and great for the Southland region, this new contract helps Meridian to take action on climate change. The more aluminium that is produced in New Zealand using mainly renewable energy, the more this displaces production of aluminium using fossil fuel alternatives overseas.
Meridian agreed a new electricity contract with the smelter in May 2018, underwriting NZAS’s price risk relating to the additional 50 MWs (438 gigawatt hours per year) of electricity that will be used by the potline.
This contract sits separately to Meridian’s main electricity agreement with NZAS that provides 572 MWh per hour (5,011 gigawatt hours per year) of electricity to 2030.
Meridian Media Team
0800 948 843