Smelter bargain keeps Meridian earnings flat

Lake Manapouri, built for the aluminium smelter, more than 50 years ago. (Image: Supplied)

Wed, 23 Feb 2022

Meridian Energy reported flat operating earnings for the six months to Dec 31, citing the impact of bargain basement “exit” power prices for the Tiwai Point aluminium smelter as a primary influence.Earnings before interest, tax, depreciation, amortisation and changes in the value of financial instruments came in at $394 million, $1m lower than for the same period last year.Net profit after tax was dramatically lower at $145m, compared with $227m for the same period last year, mainly because of the impact of unrealised changes in the...

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