Meridian Energy's hydro storage surpasses historical average

Meridian Energy's hydro storage levels have continued to rise, reaching 102 percent of the historical average in the month to April 15 2024.

This increase was driven by South Island storage, which also reached 102 percent of the average, while North Island storage decreased to 109 percent of the average.

In March 2024, Meridian's total inflows were 67 percent of the historical average, with Waiau catchment inflows at 95 percent of average.

However, the company's Waitaki catchment water storage at the end of March 2024 was 78 percent of the historical average.

On a positive note, the recent significant rainfall in the second week of April 2024 has brought the Waitaki storage levels closer to average.

Meridian also reported a 3.4 percent increase in national electricity demand in March 2024, compared to the same month last year.