Meridian Energy monthly operating report for February 2022
Attached is Meridian Energy Limited's monthly operating report for the month of February 2022.
Highlights this month include:
In the month to 10 March 2022, national hydro storage decreased from 117% to 102% of historical average
South Island storage decreased to 97% of average and North Island storage decreased to 137% of average by 10 March 2022
Meridian’s February 2022 monthly total inflows were 120% of historical average
In February 2022, Meridian’s Waitaki catchment inflows were 149% of average, while Waiau catchment inflows were 63% of average
Meridian’s Waitaki catchment water storage at the end of February 2022 was 113% of historical average
Water storage in Meridian’s Waiau catchment was well below average at the end of February 2022
Waitaki snow storage in late February 2022 was 63% of historical average
National electricity demand in February 2022 was 2.3% lower than the same month last year
February was a warm and very wet month. Temperatures were at or above average, while most of the country experienced above average rainfall
New Zealand Aluminium Smelter’s average load during February 2022 was 572MW
Meridian’s New Zealand retail sales volumes in February 2022 were 6.9% lower than February 2021
Compared to February 2021, segment sales increased in residential +16.2%, small medium business +21.7% and corporate +0.8%. Agricultural volumes were -47.2% lower and large business volumes were -8.6% lower than February 2021
The zero-brokerage fee share trading platform is looking for ways to bring in revenue and make its business model more sustainable.
Fletcher Building achieved second-half profit margins of 9.5%, just below its target of 10% by the 2023 financial year.
Even under a “bear-case scenario”, the house building pipeline should support Fletcher’s medium-to-long-term performance.
Trading volumes were unusually light, with US markets closed tonight for a national holiday.
The shareholder representatives say the Fletcher board must bear ultimate responsibility for the company’s poor performance and the Gib plasterboard shortage.
NZME has only spent $5.3m of the $30m set aside for share buybacks.
Are banks being too slow to raise term deposit rates? Some analysts say yes.
Peter McIntyre, an investment adviser at Craigs Investment Partners, says New Zealand’s market has been "reliably well-behaved over the course of the day".
The firm has doubled its headcount and is looking to raise capital to expand its manufacturing and engineering focus into green hydrogen applications.
Meridian says the fact that Australia's electricity market has turned into a train wreck shows its decision to pull out was the right one.
The Ministry for Primary Industries estimated Fonterra’s restructuring would cost the average farmer between $135,000 and $400,000.
New Zealand's biggest transport operator plans to have its first 10 dual-fuel hydrogen trucks on the road next year.
Oanda market analyst Edward Moya said the absence of a Bitcoin rally could be a troubling sign for some investors.
Sky TV and MediaWorks will be brushing themselves off after a bruising response to their proposal scotched a SkyWorks deal.
It's important that constraints remain on Fonterra that counterbalance its privileged position in the dairy sector and the national economy, says TDB Advisory.