Meridian Energy monthly operating report for October 2022

Attached is Meridian Energy Limited's monthly operating report for the month of October 2022.

Highlights this month include:

▪ In the month to 15 November 2022, national hydro storage increased from 146% to 149% of historical average
▪ South Island storage increased to 154% of average and North Island storage decreased to 132% of average by 15 November 2022
▪ Meridian’s October 2022 monthly total inflows were 70% of historical average
▪ Waiau catchment inflows in October 2022 were lower, at 58% of historical average
▪ Meridian’s Waitaki catchment water storage at the end of October 2022 was 154% of historical average
▪ Water storage in Meridian’s Waiau catchment was 73% of average at the end of October 2022
▪ Waitaki snow storage in late October 2022 was 109% of historical average
▪ National electricity demand in October 2022 was 3.1% higher than the same month last year
▪ October 2022 was dry and mild for much of the country. Rainfall was below average for most of the South Island and southern and westerns parts of the North Island
▪ New Zealand Aluminium Smelter’s average load during October 2022 was 573MW
▪ Meridian’s New Zealand retail sales volumes in October 2022 were 11.0% higher than October 2021
▪ Compared to October 2021, segment sales increased in residential +2.5%, small medium business +23.9%, agricultural +27.4% and corporate +7.2%. Large business sales decreased -7.9%

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