Meridian Energy monthly operating report for July 2024

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 , 9 8 C u s t o m h o u s e Q u a y , W e l l i n g t o n 6 0 1 1

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 Energy monthly operating report for July 2024
15 August 2024
Attached is Meridian Energy Limited's monthly operating report for the month of July 2024.
Highlights this month include:
▪ In the month to 12 August 2024, national hydro storage decreased from 65% to 45% of
historical average
▪ South Island storage decreased to 44% of average and North Island storage decreased to
51% of average by 12 August 2024
▪ Meridian’s July 2024 monthly total inflows were 78% of historical average
▪ Waiau catchment inflows in July 2024 were 74% of historical average
▪ July 2024 total inflows were the lowest July month inflows since 2011
▪ Meridian’s Waitaki catchment water storage at the end of July 2024 was 45% of historical
average
▪ Snow storage in Meridian’s Waitaki catchment was 65% of average in early August
▪ Water storage in Meridian’s Waiau catchment was 76% of average at the end of July 2024
▪ National electricity demand in July 2024 was +2.1% higher than the same month last year
▪ July 2024 was mild and dry for much of the country, with much of the South Island
recording extended dry spells
▪ New Zealand Aluminium Smelter’s average load during July 2024 was 520MW
▪ Meridian’s retail sales volumes in July 2024 were -2.8% lower than July 2023
▪ Compared to July 2023, segment sales increased in residential +0.6%, small medium
business +3.1%, agriculture +1.7% and large business +3.1%. Corporate sales decreased
by -9.2%
Weekly lake storage updates are available on Meridian’s website. See comparative lake levels
at: www.meridianenergy.co.nz/power-stations/lake-levels

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:
Phil Clark
Head of Communications
027 838 5710

Monthly Operating Report
July 2024

July highlights
1 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |2
In the month to 12 August
2024, national hydro storage
decreased from 65% to 45%
of historical average
South Island storage
decreased to 44% of average
and North Island storage
decreased to 51% of average
by 12 August 2024
Meridian’s July 2024 monthly
total inflows were 78% of
historical average
July 2024 total inflows were
the lowest July month inflows
since 2011
Waiau catchment inflows in
July 2024 were 74% of
historical average
New Zealand Aluminium
Smelter’s average load during
July 2024 was 520MW
Meridian’s retail sales volumes
in July 2024 were -2.8% lower
than July 2023
Compared to July 2023,
segment sales increased in
residential +0.6%, small
medium business +3.1%,
agriculture +1.7% and large
business +3.1%. Corporate
sales decreased by -9.2%

Meridian’s Waitaki catchment
water storage at the end of
July 2024 was 45% of
historical average
Snow storage in Meridian’s
Waitaki catchment was 65%
of average in early August
Water storage in Meridian’s
Waiau catchment was 76% of
average at the end of July
2024
National electricity demand
in July 2024 was +2.1% higher
than the same month last
year
July 2024 was mild and dry
for much of the country, with
much of the South Island
recording extended dry spells

Market data
1 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |3
▪National electricity demand in July 2024
was +2.1% higher than the same month last
year
▪July 2024 was mild and dry for much of the
country, with much of the South Island
recording extended dry spells
▪Demand in the last 12 months was +2.2%
higher than the preceding 12 months
▪New Zealand Aluminium Smelter’s average
load during July 2024 was 520MW
▪12-month average switching rate of
customers changing retailers but not
moving (“trader” switch) was 6.2% at the
end of June 2024
▪12-month average switching rate of
customers moving and changing retailers
(“move-in” switch) was 12.8% at the end of
June 2024
Source: Electricity Authority (reconciled demand)
Source: Electricity Authority
2,600
2,800
3,000
3,200
3,400
3,600
3,800
4,000
4,200
JanFebMarAprMayJunJulAugSepOctNovDec
GWh
NATIONAL DEMAND
Range (2014-2023)201920202021202220232024
5%
7%
9%
11%
13%
15%
Jun 19Dec 19Jun 20Dec 20Jun 21Dec 21Jun 22Dec 22Jun 23Dec 23Jun 24
12 month average
MARKET ICP SWITCHING (ALL RETAILERS)
Industry Move-in SwitchesIndustry Trader Switches

1 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |4
▪July 2024 saw significant increases in the
2024 and 2025 ASX electricity futures
prices
▪National storage decreased from 65% of
average on 10 July 2024 to 45% of average
on 12 August 2024
▪South Island storage decreased to 44% of
historical average by 12 August 2024.
North Island storage decreased to 51% of
average
Source: ASXSource: ASX
Source: NZX
50
100
150
200
250
300
350
400
450
500
Q3
2024
Q4
2024
Q1
2025
Q2
2025
Q3
2025
Q4
2025
Q1
2026
Q2
2026
Q3
2026
Q4
2026
Q1
2027
Q2
2027
Q3
2027
Q4
2027
$/MWh
OTAHUHU ASX FUTURES SETTLEMENT PRICE
30 June 202328 March 202430 April 2024
31 May 202428 June 202431 July 2024
50
100
150
200
250
300
350
400
450
500
Q3
2024
Q4
2024
Q1
2025
Q2
2025
Q3
2025
Q4
2025
Q1
2026
Q2
2026
Q3
2026
Q4
2026
Q1
2027
Q2
2027
Q3
2027
Q4
2027
$/MWh
BENMORE ASX FUTURES SETTLEMENT PRICE
30 June 202328 March 202430 April 2024
31 May 202428 June 202431 July 2024
0
1,000
2,000
3,000
4,000
5,000
JanFebMarAprMayJunJulAugSepOctNovDec
GWh
NATIONAL HYDRO STORAGE (12 August 2024)
Average storage (91yr)19922004
200820122019
202220232024
Market data
Weekly lake storage updates are available on Meridian’s website. See comparative lake levels at: www.meridianenergy.co.nz/power-stations/lake-levels

Meridian retail
1 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |5
▪Meridian’s customer connection numbers
decreased -0.1% during July 2024 and have
increased +1.3% since July 2023
▪Retail sales volumes in July 2024 were
-2.8% lower than July 2023
▪Compared to July 2023, segment sales
increased in residential +0.6%, small
medium business +3.1%, agriculture +1.7%
and large business +3.1%. Corporate sales
decreased by -9.2%
*excludes volumes sold to New Zealand Aluminium Smelters and CFDs
Meridian operating information
Source: Meridian
Source: Meridian
123
126
119
122
122
122
122
123
124124
124124124
123
123
125
125
125125
126
127
127
127
127127
126
127
117
118
118
119
120
121
122
122
122
122
121
120
0
100
200
300
400
JulAugSepOctNovDecJanFebMarAprMayJune
ICPs ('000)
MERIDIAN'S CUSTOMER CONNECTIONS
FY25 Meridian NIFY25 Meridian SIFY25 Powershop
FY24 Meridian NIFY24 Meridian SIFY24 Powershop
201
159
54
61
303
200
201
155
144
124
123
119
112
127
136
180
178
154
161
141
134
132
127
129
130
134
127
154
144
53
76
112
120
150
184
210
186
158
104
73
47
60
61
54
51
52
51
54
53
54
51
60
59
334
337
318
331
332
332
331
326
338
317
325
288
0
300
600
900
JulAugSepOctNovDecJanFebMarAprMayJune
GWh
MERIDIAN'S RETAIL SALES VOLUME*
FY25 ResidentialFY25 SMBFY25 AgriFY25 Large Bus
FY25 CorporateFY24 ResidentialFY24 SMBFY24 Agri
FY24 Large BusFY24 Corporate

0
500
1,000
1,500
2,000
2,500
1-Jan1-Feb1-Mar1-Apr1-May1-Jun1-Jul1-Aug1-Sep1-Oct1-Nov1-Dec
GWh
MERIDIAN'S WAITAKI STORAGE
Average 1979-201820192020
2021202220232024
Meridian inflows and storage
1 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |6
▪July 2024 monthly inflows were 78% of
historical average
▪Waiau catchment inflows in July 2024 were
74% of historical average, 25% lower than
the same month last year
▪Meridian’s Waitaki catchment water
storage moved from 999GWh to 613GWh
during July 2024
▪Waitaki water storage at the end of July
2024 was 45% of historical average and
64% lower than the same time last year
▪Snow storage in Meridian’s Waitaki
catchment was 65% of average in early
August
▪Water storage in Meridian’s Waiau
catchment was 76% of average at the end
of July 2024
Meridian operating information
Source: Meridian
Source: Meridian
0
200
400
600
800
1,000
1,200
1,400
2010201120122013201420152016201720182019202020212022202320242025
GWh
Financial
year
MERIDIAN'S COMBINED CATCHMENT INFLOWS
Jul YTD91 year average
Weekly lake storage updates are available on Meridian’s website. See comparative lake levels at: www.meridianenergy.co.nz/power-stations/lake-levels

Meridian generation
1 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |7
▪Meridian’s generation in July 2024 was
-6.9% lower than the same month last
year, reflecting lower hydro generation
andhigher wind generation
▪The average price Meridian received for its
generation in July 2024 was +240.6%
higher than the same month last year
▪The average price Meridian paid to supply
customers in July 2024 was +220.3%
higher than the same month last year
Meridian operating information
Source: Meridian
Source: Meridian
*price received for Meridian’s physical generation
0
200
400
600
800
1,000
1,200
1,400
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
MERIDIAN'S GENERATION
FY25 HydroFY25 WindFY24 HydroFY24 Wind
378
111
133
111
108
130
171
189
136
205
213
292
264
0
50
100
150
200
250
300
350
400
JulAugSepOctNovDecJanFebMarAprMayJun
$/MWh
MERIDIAN'S AVERAGE GENERATION PRICE*
FY25FY24

Monthly operating information
1 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |8
Meridian operating information
See page 10 for footnotes
JULY
JULY
JUNE
MAY
1 MONTH TO
1 MONTH TO
2024
2023
2024
2024
JULY
JULY
MONTH
MONTH
MONTH
MONTH
2024
2023
New Zealand contracted sales
Residential sales volume (GWh)
201


200


178


180


201


200


Small medium business sales volume (GWh)
159


154


144


154


159


154


Agricultural sales volume (GWh)
54


53


47


73


54


53


Large business sales volume (GWh)
61


60


59


60


61


60


Corporate and industrial sales volume (GWh)
303


334


288


325


303


334


Retail contracted sales volume (GWh)
777


800


717


793


777


800


Average retail contracted sales price
1
($NZ/MWh)
$162.4
$149.2
$157.2
$161.3
$162.4
$149.2
NZAS sales volume (GWh)
327


426


394


426


327


426


Financial contract sales volumes
2
(GWh)
295


338


293


297


295


338


Average wholesale & financial contracts sales price
3
($NZ/MWh)
$128.9
$78.6
$87.9
$89.7
$128.9
$78.6
Retail customer supply volumes (GWh)
813


845


733


847


813


845


Cost to supply retail customers ($NZ/MWh)
$382.7
$128.6
$284.0
$312.3
$382.7
$128.6
Cost to supply wholesale customers ($NZ/MWh)
$403.2
$109.2
$269.6
$286.4
$403.2
$109.2
Cost of financial contracts ($NZ/MWh)
$375.3
$109.5
$271.0
$285.6
$375.3
$109.5
Total New Zealand customer connections
4
369,282


364,389


369,667


369,980

Monthly operating information
1 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |9
Meridian operating information
See page 10 for footnotes
JULY
JULY
JUNE
MAY
1 MONTH TO
1 MONTH TO
2024
2023
2024
2024
JULY
JULY
MONTH
MONTH
MONTH
MONTH
2024
2023
New Zealand generation
Hydro generation volume (GWh)
927


1,016


883


1,124


927


1,016


Wind generation volume (GWh)
129


118


128


108


129


118


Total generation volume (GWh)
1,056


1,134


1,011


1,232


1,056


1,134


Average generation price
5
($NZ/MWh)
$376.2
$110.8
$262.6
$291.8
$376.2
$110.8
New Zealand hedging
Hedging volume
6
(GWh)
451


505


516


490


451


505


Hedging cost average price ($NZ/MWh)
$174.5
$142.4
$147.7
$151.2
$174.5
$142.4
Hedging spot revenue average price ($NZ/MWh)
$346.6
$115.7
$258.2
$293.9
$346.6
$115.7
Future contract close outs ($NZm)
-$13.0
$14.0
-$2.2
-$3.2
-$13.0
$14.0

Monthly operating information
1 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |10
Meridian operating information
Footnotes
1.Contracted sales volumes and volume weighted average price received from
contracted customers less distribution costs
2.Derivatives sold excluding the sell-side of virtual asset swaps
3.Average price of both NZAS sales volume and derivative sales volumes
4.Meridian Retail and Powershop New Zealand installation control points (ICPs),
excluding vacants
5.Volume weighted average price received for Meridian’s physical generation
6.Over the counter and ASX contract volumes excluding the buy-side of virtual asset
swaps
JULY
JULY
JUNE
MAY
1 MONTH TO
1 MONTH TO
2024
2023
2024
2024
JULY
JULY
MONTH
MONTH
MONTH
MONTH
2024
2023
New Zealand costs
Employee and Operating Costs ($m)
26


23


30


23


26


281


Stay in Business Capital Expenditure ($m)
3


3


8


7


3


3


Investment Capital Expenditure ($m)
13


16


3


35


13


16


Total Capital Expenditure ($m)
16


19


11


42


16


19

FY25 operating information
111 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |
Meridian operating information
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Q1
YoY
Q2
YoY
Q3
YoY
Q4
YoY
2024
2024
2024
2024
2024
2024
2025
2025
2025
2025
2025
2025
FY25
change
FY25
change
FY25
change
FY25
change
New Zealand contracted sales
Residential sales volume (GWh)
201


Small medium business sales volume (GWh)
159


Agricultural sales volume (GWh)
54


Large business sales volume (GWh)
61


Corporate and industrial sales volume (GWh)
303


Retail contracted sales volume (GWh)
777


Average retail contracted sales price ($NZ/MWh)
$162.4
NZAS sales volume (GWh)
327


Financial contract sales volumes (GWh)
295


Average wholesale & financial contracts sales price ($NZ/MWh)
$128.9
Retail customer supply volumes (GWh)
813


Cost to supply retail customers ($NZ/MWh)
$382.7
Cost to supply wholesale customers ($NZ/MWh)
$403.2
Cost of financial contracts ($NZ/MWh)
$375.3
Total New Zealand customer connections
369,282


New Zealand generation
Hydro generation volume (GWh)
927


Wind generation volume (GWh)
129


Total generation volume (GWh)
1,056


Average generation price ($NZ/MWh)
$376.2
New Zealand hedging
Hedging volume (GWh)
451


Hedging cost average price ($NZ/MWh)
$174.5
Hedging spot revenue average price ($NZ/MWh)
$346.6
Future contract close outs ($NZm)
-$13.0
Meridian Group
Employee and Operating Costs ($NZ m)
26
Stay in Business Capital Expenditure ($NZ m)
3
Investment Capital Expenditure ($NZ m)
13
Total Capital Expenditure ($NZ m)
16

FY24 operating information
121 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |
Meridian operating information
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Q1
YoY
Q2
YoY
Q3
YoY
Q4
YoY
2023
2023
2023
2023
2023
2023
2024
2024
2024
2024
2024
2024
FY24
change
FY24
change
FY24
change
FY24
change
New Zealand contracted sales
Residential sales volume (GWh)
200


201


155


144


124


123


119


112


127


136


180


178


555


-9
392


+2
358


+14
494


+27
Small medium business sales volume (GWh)
154


161


141


134


132


127


129


130


134


127


154


144


457


+9
393


-5
393


+18
425


+14
Agricultural sales volume (GWh)
53


76


112


120


150


184


210


186


158


104


73


47


241


+27
454


+29
554


+135
225


+34
Large business sales volume (GWh)
60


61


54


51


52


51


54


53


54


51


60


59


175


+2
155


+17
161


+17
170


+13
Corporate and industrial sales volume (GWh)
334


337


318


331


332


332


331


326


338


317


325


288


989


+19
995


+45
995


+1
930


-74
Retail contracted sales volume (GWh)
800


836


781


781


790


818


843


806


811


735


793


717


2,417


+48
2,389


+88
2,461


+186
2,244


+15
Average retail contracted sales price ($NZ/MWh)
$149.2
$151.2
$148.2
$131.5
$130.1
$125.9
$136.4
$135.9
$139.5
$155.7
$161.3
$157.2
$149.6
+$15.5
$129.1
+$6.4
$137.3
+$7.9
$158.1
+18
NZAS sales volume (GWh)
426


426


411


426


412


426


426


398


421


412


426


394


1,262


+1
1,263


+1
1,245


+9
1,232


-18
Financial contract sales volumes (GWh)
338


371


371


221


250


212


275


206


272


311


297


293


1,080


+433
683


-101
753


+76
901


-88
Average wholesale & financial contracts sales price ($NZ/MWh)
$78.6
$78.4
$76.4
$56.2
$61.9
$57.5
$75.0
$68.8
$74.1
$91.7
$89.7
$87.9
$77.8
+$18.9
$58.5
+$3.0
$72.8
+$4.1
$89.8
+13
Retail customer supply volumes (GWh)
845


892


825


829


838


879


884


851


850


778


847


733


2,561


+61
2,546


+82
2,584


+188
2,359


+46
Cost to supply retail customers ($NZ/MWh)
$128.6
$144.9
$123.3
$124.3
$143.3
$186.1
$201.4
$155.1
$213.8
$230.0
$312.3
$284.0
$132.6
+$57.9
$151.9
+$101.1
$190.2
+$45.1
$276.3
+191
Cost to supply wholesale customers ($NZ/MWh)
$109.2
$132.9
$110.7
$105.1
$128.5
$171.4
$187.1
$136.4
$202.5
$212.8
$286.4
$269.6
$117.7
+$55.0
$135.0
+$97.2
$176.1
+$36.1
$256.4
+188
Cost of financial contracts ($NZ/MWh)
$109.5
$132.6
$115.5
$105.8
$127.1
$166.7
$181.8
$134.9
$202.2
$212.6
$285.6
$271.0
$119.5
+$41.4
$132.5
+$89.8
$176.3
+$48.0
$255.7
+179
Total New Zealand customer connections
364,389


364,631


365,453


366,320


370,087


371,800


372,604


373,536


373,332


373,161


369,980


369,667


365,453


-3,294
371,800


+4,864
373,332


+8,072
369,667


+6,332
New Zealand generation
Hydro generation volume (GWh)
1,016


1,170


1,020


974


1,061


987


1,010


962


972


948


1,124


883


3,206


-94
3,022


-252
2,943


+250
2,955


-480
Wind generation volume (GWh)
118


107


138


128


111


119


106


127


134


117


108


128


362


+31
358


+49
367


+76
353


+82
Total generation volume (GWh)
1,134


1,276


1,157


1,102


1,172


1,106


1,116


1,089


1,106


1,064


1,232


1,011


3,567


-63
3,380


-203
3,311


+326
3,308


-397
Average generation price ($NZ/MWh)
$110.8
$133.0
$111.4
$107.8
$130.4
$170.8
$188.6
$136.4
$205.0
$212.0
$291.8
$262.6
$119.0
+$56.8
$136.3
+$95.7
$176.9
+$45.7
$257.2
+$187.5
New Zealand hedging
Hedging volume (GWh)
505


539


458


496


404


458


504


438


504


470


490


516


1,502


+297
1,358


+304
1,446


+170
1,476


+244
Hedging cost average price ($NZ/MWh)
$142.4
$132.3
$139.1
$110.9
$105.6
$110.1
$127.4
$131.9
$139.1
$145.0
$151.2
$147.7
$137.8
+$14.0
$109.1
+$8.2
$132.9
+$4.4
$148.0
+$12.6
Hedging spot revenue average price ($NZ/MWh)
$115.7
$134.3
$121.2
$123.7
$144.7
$179.4
$192.6
$156.1
$207.6
$219.9
$293.9
$258.2
$124.1
+$51.1
$148.8
+$102.7
$186.8
+$45.4
$257.8
+$174.5
Future contract close outs ($NZm)
$14.0
$3.2
$1.4
-$0.7
-$0.9
$1.0
$2.1
$0.0
-$1.5
-$1.6
-$3.2
-$2.2
$18.6
-13.7
-$0.6
-19.5
$0.6
$6.7
-$6.9
-$7.9
Meridian Group
Employee and Operating Costs ($NZ m)
23
24
22
22
24
24
20
24
22
22
23
30
$69
+9
$71
+9
$66
+$6
$76
+$8
Stay in Business Capital Expenditure ($NZ m)
3
6
4
4
7
5
6
9
8
5
7
8
$13
+3
$16
+5
$23
+$14
$20
+$5
Investment Capital Expenditure ($NZ m)
16
20
15
16
54
13
12
36
35
21
35
3
$51
+20
$83
-36
$84
-$6
$59
-$2
Total Capital Expenditure ($NZ m)
19
26
19
20
61
18
18
45
44
26
42
11
$64
+23
$99
-31
$107
+$8
$79
+$3

Glossary
131 5 A U G U S T 2 0 2 4 | M O N T H L Y O P E R A T I N G R E P O R T F O R J U L Y 2 0 2 4 |
Hedging volumesbuy-side electricity derivatives excluding the buy-side of virtual asset swaps
Average generation pricethe volume weighted average price received for Meridian’s physical generation
Average retail contracted sales pricevolume weighted average electricity price received from retail customers, less distribution costs
Average wholesale contracted sales pricevolume weighted average electricity price received from wholesale customers (including NZAS) and financial contracts
Combined catchment inflowscombined water inflows into Meridian’s Waitaki and Waiau hydro storage lakes
Cost of hedgesvolume weighted average price Meridian pays for derivatives acquired
Cost to supply contracted salesvolume weighted average price Meridian pays to supply contracted customer sales and financial contracts
Contracts for Difference (CFDs)an agreement between parties to pay the difference between the wholesale electricity price and an agreed fixed price for
a specified volume of electricity. CFDs do not result in the physical supply of electricity
Customer connections number of installation control points, excluding vacants
GWhgigawatt hour. Enough electricity for 125 average New Zealand households for one year
Historic average inflowsthe historic average combined water inflows into Meridian’s Waitaki and Waiau hydro storage lakes over the last 85 years
Historic average storagethe historic average level of storage in Meridian’s Waitaki catchment since 1979
HVDChigh voltage direct current link between the North and South Islands of New Zealand
ICPNew Zealand installation control points, excluding vacants
ICP switchingthe number of installation control points changing retailer supplier, recorded in the month the switch was initiated
MWhmegawatt hour. Enough electricity for one average New Zealand household for 46 days
National demandElectricity Authority’s reconciled grid demand www.emi.ea.govt.nz
NZASNew Zealand Aluminium Smelters Limited
Retail sales volumescontract sales volumes to retail customers, including both non half hourly and half hourly metered customers
Financial contract salessell-side electricity derivatives excluding the sell-side of virtual asset swaps
Virtual Asset Swaps (VAS)CFDs Meridian has with Genesis Energy and Mercury New Zealand. They do not result in the physical supply of electricity