Energy

Meridian's $3.5 billion 'super profits'

Ian Llewellyn
Tue, 24 Aug 2021

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
Tue, 24 Aug 2021
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...

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