Low hydro inflows knock Meridian's fourth quarter results

Tue, 31 Jul 2012

Aug 1 (BusinessDesk) - The lowest inflows in 79 years to two of Meridian Energy's two key hydro catchments saw New Zealand's largest electricity generator cut generation sharply in the three months to June 30. With full year profit results due out on Aug. 13, the state-owned all renewables generator and retailer also allowed customer numbers to fall in the fourth quarter, as it scaled back customer acquisition campaigns because of the prolonged dry spell which required water conservation in its Waitaki and Waiau catchments. Meridian generat...

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