Meridian welcomes move to free up access to stored lake water

The rule change relating to Pūkaki and other lakes more than doubles Meridian’s available hydro storage. (Image: NZME)

Fri, 09 Aug 2024

Meridian Energy has welcomed Transpower’s move to urgently free up more water in the hydro lakes than is usually allowed due to the increased risk of energy shortages and even higher wholesale electricity prices.Wholesale electricity prices have reached record sustained levels above $800 a megawatt hour, bringing higher costs for some businesses and forcing others to mothball operations or contemplate closure.The electricity system operator is requesting submissions by Aug 16 on an adjustment to the “Alert Conti...

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