Meridian confirms ongoing suspension of Potline 4 contract

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 l i n g t o n 6 1 4 3

m e r i d i a n e n e r g y . c o . n z
Stock Exchange Listings NZX (MEL) ASX (MEZ)

Meridian confirms ongoing suspension of Potline 4
contract
30 September 2020

Meridian confirms that the COVID 19-related suspension of the 50MWh per hour Potline 4 contract
between Meridian and NZAS will remain in place till 31 August 2021. Before that date, the Smelter
owners NZAS can recommence operation of Potline 4 at any time and can restore the full contract
quantity of 50MW on 5 days’ notice.
The Potline 4 contract is a separate contract to the main electricity agreement between Meridian and
NZAS. It was signed in May 2018 and runs until December 2022. In April 2020, NZAS exercised its
right to reduce quantity under the Potline 4 contract to zero.
Meridian’s main electricity agreement with NZAS provides price certainty for NZAS for up to 572 MWh
per hour (5,011 gigawatt hours per year) of electricity. On 9 July 2020 Rio Tinto gave notice to
Meridian terminating the main electricity agreement with effect on and from 31 August 2021.
As widely reported, Meridian has put a confidential proposal to NZAS with the objective of supporting
closure of the smelter over a longer period of time than the announced period up to 31 August 2021.
Meridian has proposed up to four years. To date that proposal has not been accepted.

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:

Polly Atkins
Senior Communications Specialist
021 174 1715