Meridian, Genesis explain a tough winter to shareholders

Meridian chair Mark Verbiest addresses the company's AGM in Wellington. (Image: BusinessDesk)

Wed, 16 Oct 2024

Volatile wholesale electricity prices and urgently arranged measures to deal with winter shortages cost Meridian Energy approximately $200 million, chief executive Neal Barclay told shareholders at the company’s annual meeting.Released simultaneously were monthly performance figures confirming that Meridian’s financial performance in the current financial year would be affected, chair Mark Verbiest said.“The 2025 financial year currently looks to be significantly more challenging from a financial perspective” than 2...

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