Meridian Energy monthly operating report for January 2024

Attached is Meridian Energy Limited's monthly operating report for the month of January 2024. Highlights this month include:

▪ In the month to 14 February 2024, national hydro storage increased from 84% to 101% of historical average

▪ South Island storage increased to 95% of average and North Island storage increased to 145% of average by 14 February 2024

▪ Meridian’s January 2024 monthly total inflows were 118% of historical average

▪ Waiau catchment inflows in January 2024 were 128% of historical average

▪ Meridian’s Waitaki catchment water storage at the end of January 2024 was 93% of historical average

▪ Snow storage in Meridian’s Waitaki catchment was 26% of average at the beginning of February 2024

▪ Water storage in Meridian’s Waiau catchment was 141% of average at the end of January 2024

▪ National electricity demand in January 2024 was +2.6% higher than the same month last year

▪ January 2024 was warm and dry for most of the country. Much of the country experienced below normal rainfall, except across central and eastern parts of the North Island and the west of the South Island

▪ New Zealand Aluminium Smelter’s average load during January 2024 was 575MW

▪ Meridian’s retail sales volumes in January 2024 were +8.3% higher than January 2023

▪ Compared to January 2023, segment sales increased in residential +3.0%, small medium business +7.0%, large business +11.1%, agriculture +19.2% and corporate +4.3%

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Announcement PDF