Meridian NZAS Price Separation Periods
Meridian Energy Limited (Meridian) has given notice to New Zealand Aluminium Smelters Limited (NZAS) that it has nominated a number of trading periods as Meridian Price Separation Periods in accordance with the terms of the electricity agreement between Meridian and NZAS (the Agreement). The price separation observed between the Tiwai and Benmore spot prices is the result of exceptionally dry conditions across Southland with the Waiau catchment experiencing its lowest inflows on record for the January to March period and these conditions limiting generation at Manapōuri. Lakes Manapōuri and Te Anau are now both in their low ranges under the Operating Guidelines.
Under the Agreement, Meridian may nominate a trading period as a Meridian Price Separation Period when the Benmore spot price is less than 85% of the Tiwai spot price in that period and the additional criteria in the definition of “Meridian Price Separation Period” in the Agreement have been met.
The relevant Meridian Price Separation Periods occurred on 2 April 2022.
This is the first time under the Agreement that Meridian has nominated trading periods as Meridian Price Separation Periods. If current conditions persist, further Meridian Price Separation Periods may be nominated.
The Agreement provides that for trading periods nominated as Meridian Price Separation Periods, the contract quantity offered by Meridian reduces from 540 MW - 572 MW, to the reconciled quantity of generation actually produced by the Manapōuri hydro power station and White Hill wind farm in the relevant trading period(s).
The Chinese market for over-the-counter medicines is the world’s second-largest behind the US and was growing rapidly, the AFT Pharmaceuticals managing director said.
The church management software firm hasn't been distracted by the takeover talk.
The creators of a voluntary carbon credit and platform to trade them stand by their product.
Synlait's new forecast brings it in line with Fonterra.
Longer-term, the cloud strategy is expected to lift per-site revenue by more than 2.5 times and fatten margins by about 40%.
“The kiwi dollar is always going to be like a cork on the waves of global sentiment,” independent treasury adviser Peter Cavanaugh said.
Spreading your money through good quality companies, then leaving it alone for a few years is the boring but most likely way to build wealth for most of us.
One analyst said market participants will be glad to see the back of the turbulent second quarter.
Young property guns Jasper are taking their 'sharesies' style property investment model into a more marketable terrain.
After a troubled start, a new carbon trading platform says it will resume operations next week.
The owner of BusinessDesk has hit a new high, with even more customers choosing to subscribe.
Indonesian coal prices are now one of the main drivers of wholesale electricity prices in NZ.
Many of the factors weighing on Kiwi Property's share price are beyond its control, chair Mark Ford told shareholders.