Meridian drops smelter bomb - new contract unlikely

Wed, 27 Mar 2013

By Pattrick Smellie March 28 (BusinessDesk) - Meridian Energy says it is "unlikely" to reach a new electricity supply agreement with its largest customer, the Tiwai Point aluminium smelter, which consumes around one-seventh of New Zealand's electricity. The bombshell disclosure has the capacity to upset the government's plans to partially privatise state-owned electricity company MightyRiverPower. Offer documents are due for release in about a fortnight, with listing by mid-May. This morning's announcement to the NZX comes ahead of a selec...

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