Transpower work on Clutha-Upper Waitaki Lines delayed
04 May 2020
Media release
Transpower transmission work on Clutha-Upper Waitaki
Line Project set to be delayed
National grid operator Transpower has advised that it will not be funding work to accelerate
the Clutha-Upper Waitaki Lines Project (‘CUWLP’) transmission build in the lower South
Island beyond the $10m committed by Contact and Meridian Energy in December 2019.
This means the CUWLP work programme is unlikely to be completed by the targeted
commissioning date of June 2022, unless Contact and Meridian Energy contribute additional
funding or the tenure of the Tiwai Point aluminium smelter is clarified.
Contact CEO Mike Fuge said the company’s commitment to helping accelerate the CUWLP
work programme was unchanged, but Contact would not be making an additional financial
contribution.
“We’ll continue to work with Transpower to see whether aspects of the CUWLP work
programme can be optimised to mitigate delays from the recent COVID-19 restrictions. The
goal is still to help move renewable electricity generation in the lower South Island north as
soon as possible if the smelter closes or curtails its operations.”
-ends-
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About Contact Energy
Contact (contact.co.nz ) is one of New Zealand’s largest energy retailers and generators.
We’re committed to a sustainable, low carbon energy future for New Zealand. We balance
our commitment to lowering carbon emissions and producing renewable energy, with
maintaining reliable access to energy for our customers. We generate electricity from hydro,
geothermal and gas and have one of the most flexible generation portfolios in the country.
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Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- MEL — Meridian Energy Limited: Clutha Upper Waitaki Lines Project Update2020-05-03
“Release M e r i d i a n E n e r g y L i m i t e d ( A R B N 1 5 1 8 0 0 3 9 6 ) A c o m p a n y i n c o r p o r a t e d i n N e w Z e a l a n d L e v e l 2 , 5 5 L a d y E l i z a b e t h L a n e , P O B o x 1 0 8 4 0 , W e l…”
- MEL — Meridian Energy Limited: Clutha Upper Waitaki Lines Project Update2020-06-29
“Release M e r i d i a n E n e r g y L i m i t e d ( A R B N 1 5 1 8 0 0 3 9 6 ) A c o m p a n y i n c o r p o r a t e d i n N e w Z e a l a n d L e v e l 2 , 5 5 L a d y E l i z a b e t h L a n e , P O B o x 1 0 8 4 0 , W e…”
- MEL — Meridian Energy Limited: Meridian Energy Business Update and Investor Call2020-07-09
“3 Business update No change to current ordinary dividend policy (75-90% of free cash flow) Immediate end to capital management programme Swaption renewal: Swaption renewal process to be abandoned Current swaption likely to be terminated Portfolio response: Pūkakilow range…”