Meridian reports increased sales, higher operating costs

In the month to the end of January, national hydro storage decreased from 138% to 116% of the historical average. (Image: Getty)

Oliver Lewis

Mon, 16 Jan 2023

Electricity gentailer Meridian has reported sales increases across all market segments except residential, which was flat.In an operational update announced to the New Zealand stock exchange on Monday, Meridian said customer numbers were 2.4% higher at the end of the second quarter compared to the same period last year. Retail sales volumes were 4.5% higher at a 13.3% higher average price.However, operating costs were significantly higher – 33.2% – than in the second quarter of last year.Capital expenditure was 185% higher, how...

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