Attached is Meridian Energy Limited's monthly operating report for the month of July 2024.
Highlights this month include:
In the month to 12 August 2024, national hydro storage decreased from 65% to 45% of historical average
South Island storage decreased to 44% of average and North Island storage decreased to 51% of average by 12 August 2024
Meridian’s July 2024 monthly total inflows were 78% of historical average
Waiau catchment inflows in July 2024 were 74% of historical average
July 2024 total inflows were the lowest July month inflows since 2011
Meridian’s Waitaki catchment water storage at the end of July 2024 was 45% of historical average
Snow storage in Meridian’s Waitaki catchment was 65% of average in early August
Water storage in Meridian’s Waiau catchment was 76% of average at the end of July 2024
National electricity demand in July 2024 was +2.1% higher than the same month last year
July 2024 was mild and dry for much of the country, with much of the South Island recording extended dry spells
New Zealand Aluminium Smelter’s average load during July 2024 was 520MW
Meridian’s retail sales volumes in July 2024 were -2.8% lower than July 2023
Compared to July 2023, segment sales increased in residential +0.6%, small medium business +3.1%, agriculture +1.7% and large business +3.1%. Corporate sales decreased by -9.2%
Weekly lake storage updates are available on Meridian’s website. See comparative lake levels at: www.meridianenergy.co.nz/power-stations/lake-levels
The Southland processor is owned by a2 Milk.
"We're still not making sufficient returns. This is a fact."
High energy costs were cited as a key factor when the pause was first announced.
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