Quarterly Operational Update
Market summary
Lower national inflows during the quarter were reflectedௗin higher spot electricity prices averaging
$156/MWh inௗAuckland.ௗௗForward prices remain high at $167/MWh in Auckland forௗfinancial years 2024 to
2026 as at 31 December 2023.
Normal hydro inflows in December and portfolio management has provided a strong Q3 starting hydro
position
Lower quartileinflows in the Waikato catchment over the quarter saw Q2 hydro generation reduce to
928GWh (353GWhor28% lower than PCP). Wind generation was higher at 579GWh (191GWh or 49%
higher than PCP) this was primarily a result of new wind generation from Turitea South and Kaiwera Downs
1 wind farms. Strong hydro inflows at the end of thequarterandinto January provides healthy storage
leading into Q3FY24. Mass market yield growth was $16/MWh higher for the quarter relative to PCP, this
was partly a result of one-off accounting adjustments and reduced acquisition activity. For the financial
year we are forecasting full hydrogenerationof 4,000GWh.
Gentrack billing system migration successfully completed
Electricity connections are flat on PCP and 5k lower compared to prior quarter, this quarter on quarter
movement was primarily a result of focusing on customer migration. The programme of work to migrate
to the Gentrack billing system has been successfully completed.
PARTIALLYOFFSET 25TH
PERCENTILE HYDRO INFLOWS
PROVIDING A STRONG
PORTFOLIO POSITION FOR Q3
THROUGH MASS MARKET
SALES GROWTH
21%
34%
21%
12%
3%
9%
23%
36%
19%
12%
3%
7%
17%
83%
18%
82%
⁰
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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: Meridian Energy monthly operating report for December 20232024-01-16
“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 287-2 9 3 D u r h a m S t r e e t N o r t h , C h r i s t c h u r c h 8 0 1 3 m e r i…”
- MEL — Meridian Energy Limited: Meridian Energy monthly operating report for October 20232023-11-13
“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 287-2 9 3 D u r h a m S t r e e t N o r t h , C h r i s t c h u r c h 8 0 1 3 m e r i d…”
- MEL — Meridian Energy Limited: Meridian Energy monthly operating report for November 20232023-12-14
“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 287-2 9 3 D u r h a m S t r e e t N o r t h , C h r i s t c h u r c h 8 0 1 3 m e r i d…”