Meridian's $3.5 billion 'super profits'

Meridian's $3.5 billion 'super profits'
Major electricity users say Meridian has been using its dams to make excessive returns. (Image: supplied)
Ian Llewellyn
Meridian Energy made $3.5 billion in excess economic profits over the last 20 years with the majority of that coming since 2016, a study claims.The Major Electricity Users Group (MEUG) commissioned the work and released it today ahead of Meridian releasing its financial year results tomorrow.However, Meridian reacted strongly to the claim saying the study was flawed and brought into question the MEUG’s credibility.The report comes as smaller electricity retailers continue their calls for the government to break up the large generator/reta...

More Economy

Spending up 3.7% in year, Westpac data says
Economy

Spending up 3.7% in year, Westpac data says

Westpac’s senior economist, Satish Ranchhod, says spending is "starting to pick up again" after the bank’s data showed a 3.7% annual rise in spending on Westpac-issued credit and debit cards. Westpac's Retail Spending Pulse, released on Friday, showed the upward shift was hel...

Staff reporters 14 Mar 2025
How NZICC could change Auckland's CBD
Economy

How NZICC could change Auckland's CBD

Developers are pouring billions into Auckland CBD's midtown area.

Dileepa Fonseka 13 Mar 2025
Gap between NZ and Aus bank interest margin grows
Economy

Gap between NZ and Aus bank interest margin grows

In New Zealand, 2024 net interest margins were flat at 2.34%.

Gregor Thompson 12 Mar 2025
School lunch provider Libelle Group tipped into liquidation
Retail

School lunch provider Libelle Group tipped into liquidation

It is contracted to deliver approximately 125,000 meals a day. 

Staff reporters 11 Mar 2025