Meridian says it is doing the right thing as profits and earnings rise

Meridian's hydro lakes dried up as the year went on. (Image: Meridian)

Wed, 28 Aug 2024

Meridian Energy has reported increased earnings and profit and as the political focus on the sector mounts, it has offered to roll over contracts to business customers.The country’s largest generator reported operating cash flows of $667 million for the year ending June 30 2024, up from $509m the previous year.Net profit after tax was up from $95m to $429m. The growth in profit after tax was influenced by a large swing in net gains on hedge instruments, up $249m in the 2024 financial year, compared to net losses on hed...

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