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)

Thu, 02 Mar 2023

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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