Tiwai Point smelter safe to Jan 2017 under new deal with Meridian

Wed, 07 Aug 2013

By Pattrick Smellie Aug 8 (BusinessDesk) - Meridian Energy has had to give up previously negotiated price increases and the government has chipped in with a $30 million "incentive payment" to keep the Tiwai Point aluminium smelter open until at least January 2017. Meridian chief executive Mark Binns announced the deal in a statement to the NZX, saying the renegotiated contract would "see a reduction in the current electricity charge from July 1, 2013 and allows for price increases should the New Zealand dollar value of aluminium rise above ag...

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