Potline 4 contract suspension extended

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 Potline 4 contract suspension
extended until 31 October

1 June 2021


Meridian confirms that the suspension of the 50MWh per hour Potline 4 contract between Meridian
and New Zealand Aluminium Smelters Limited (NZAS) has been extended up to and including 31
October 2021. NZAS retains the ability to end the suspension on 5 days’ notice but can now only do
so from 9 August 2021, and for the period between 9 August 2021 and 9 September 2021. This can
only occur if Relevant Hydro Storage (as defined in the main electricity agreement between Meridian
and NZAS) is at least 500GWh above the 1% risk curve on the current New Zealand Electricity
Percentage Risk Curves published by Transpower.
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 31 December 2022. In April 2020, NZAS exercised its
right to suspend the contract and reduce the contract quantity to zero. This suspension was extended
on 30 September 2020 and was due to finish on 31 August 2021 –
[https://www.nzx.com/announcements/360653].

ENDS
Neal Barclay
Chief Executive
Meridian Energy Limited



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