Surge in Meridian lake levels eases winter power fears

Surge in Meridian lake levels eases winter power fears
Meridian's South Island lakes, such as Manapouri pictured here, are still low, but are filling.
Pattrick Smellie
Recent heavy rainfall has sent a rush of water into Meridian Energy’s hydro storage lakes in recent weeks, reducing the risk of a dry winter and electricity shortages.The risk of a dry winter had been “materially averted”, Jarden energy sector analyst Grant Swanepoel told BusinessDesk.However, he expects wholesale prices to remain elevated for at least the next 18 to 24 months, compared with most of the last five years, because natural gas will remain in short supply and is still needed to meet total electricity demand.It will...

More Markets

NZ sharemarket celebrates a near 1% Easter rise
Markets Market close

NZ sharemarket celebrates a near 1% Easter rise

The S&P/NZX 50 Index closed at 12,105.29, up 94.62 points or 0.79%.

Graham Skellern 28 Mar 2024
F&P Healthcare facing $12m bill for product recall
Markets

F&P Healthcare facing $12m bill for product recall

The company will provision the cost in its next full year results.

Staff reporters 28 Mar 2024
Synlait seeking help from major shareholder for $130m debt
Markets

Synlait seeking help from major shareholder for $130m debt

Synlait enters trading halt as it needs more time to come up with cash.