Meridian taking cautious approach for winter after 2022 hydro boosted earnings

Meridian taking cautious approach for winter after 2022 hydro boosted earnings
Meridian's Benmore dam is one of those being managed carefully due to predicted dry weather (Image: Meridian)
Ian Llewellyn
Meridian Energy is taking a conservative approach to managing water in its hydro dams as it is wary of a potential dry autumn and winter ahead, chief executive Neal Barclay said.The country’s largest electricity generator/retailer yesterday reported an increase in profits for the six months to Dec 31.This was partly boosted by strong hydrological flows in that period.Meridian started the financial year with below-average storage at Lake Pukaki, in the Canterbury region. However, this situation changed during July and August 2022 when...

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