Meridian's hydro storage levels have dropped significantly, with national storage now at 45% of the historical average for July.
In the month leading up to August 12 2024, South Island storage decreased to 44% of the average, while North Island storage decreased to 51% of the average.
This decline in storage was accompanied by July's total inflows, which were at 78% of the historical average, marking the lowest July inflows since 2011.
The company also noted that its Waitaki catchment water storage and snow storage were below average.
These developments come as New Zealand experienced mild and dry conditions, particularly in the South Island.
Meanwhile, national electricity demand in July 2024 was 2.1% higher compared to the same month last year, while Meridian's retail sales volumes saw a 2.8% decrease.
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