Meridian Energy monthly operating report for January 2023

Meridian Energy Limited's monthly operating report for the month of January 2023 revealed that national hydro storage decreased from 116% to 111% of historical average, South Island storage decreased to 103% of average and North Island storage increased to 166% of average.

January 2023 saw above average temperatures and unprecedented North Island rainfall, while South Island rainfall was well below average.

National electricity demand was 1.2% lower than the same month last year and New Zealand Aluminium Smelter's average load during the month was 575MW.

Meridian's New Zealand retail sales volumes in January 2023 were 1.8% lower than January 2022, however segment sales increased in residential +0.4%, small medium business +2.5%, agriculture +0.3%, large business +15.5%.

Sales were lower in corporate -7.3%.