Meridian Energy has reported strong hydro storage levels and inflows for the month of September 2024.
National hydro storage increased from 99% to 115% of the historical average, with South Island storage at 119% of average and North Island storage at 100% of average.
Meridian's September 2024 monthly total inflows were 223% of the historical average, with Waiau catchment inflows at 242% of the historical average.
However, national electricity demand in September 2024 was 5.2% lower than the same month last year.
Meridian's retail sales volumes in September 2024 were also 4.9% lower than September 2023, with decreases in the small medium business, agricultural, and corporate segments.
The company's Q1 total inflows were 147% of the historical average, 30% higher than the same period last year.
However, its Waitaki catchment water storage at the end of Q1 was 12% lower than Q1 last year, and its generation was 15% lower, although at a higher average price.
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