Pūkaki mega-lake never seriously considered: Meridian

Pūkaki mega-lake never seriously considered: Meridian
Raising the levels of Lake Pūkaki would have major environmental and infrastructure impacts. (Image: NZME)
Ian Llewellyn
Meridian Energy says it has never seriously considered an option put forward by Government officials to raise Lake Pūkaki by almost 30 metres at a probable cost of at least $8 billion.The idea was studied and put forward by the New Zealand Battery Project, part of the Ministry of Business, Innovation and Employment (MBIE), as they searched for solutions to the country’s energy security problems when dry years lower hydro lake levels.The work mainly focused on a large pumped hydro scheme on Lake Onslow. The incoming Government stopped that...

More Markets

NZ sharemarket falls 0.6% after Monday's surge
Markets Market close

NZ sharemarket falls 0.6% after Monday's surge

The S&P/NZX 50 Index closed at 13,113.19, declining 82.89 points or 0.63%.

Graham Skellern 26 Nov 2024
Rocket Lab nabs Biden funding
Markets

Rocket Lab nabs Biden funding

Rocket Lab has hit a milestone by launching two Electron rockets within 24 hours.The New Zealand-American firm also said on Tuesday it had finalised US$23.9 million (NZ$41.3m) in Biden administration “Chips Act” funding.Proposed recipients of funding under the legislation, design...

Staff reporters 26 Nov 2024
Aroa posts $1.5m HY loss, forecasts annual profit
Markets

Aroa posts $1.5m HY loss, forecasts annual profit

Auckland surgical products company is forecasting annual profit of between $2m to $6m.

John Anthony 26 Nov 2024
Pacific Edge posts $14.5m loss
Markets

Pacific Edge posts $14.5m loss

The cancer diagnostics company is awaiting outcomes of several events.

John Anthony 26 Nov 2024