Meridian's hydro storage levels continue to drop

Meridian's hydro storage levels have continued to decline, reaching 65% of the historical average in the month to July 10, 2024.

In its monthly operating report for June 2024, the company also highlighted a decrease in South Island storage to 64% of average, while North Island storage increased to 72% of average.

June's total inflows for Meridian were 73% of the historical average, with Waiau catchment inflows at 78% of average.

Water storage in the Waitaki catchment was at 63% of the historical average.

The report noted a 1.9% decrease in national electricity demand in June 2024 compared to the same month last year.

Meridian's retail sales volumes in June 2024 were also lower, down by 5.5% from June 2023.