Meridian Energy monthly operating report for February 2025

Attached is Meridian Energy Limited's monthly operating report for the month of February 2025. Key points this month:

▪ In the month to 10 March 2025, national hydro storage decreased from 91% to 76% of historical average
▪ South Island storage decreased to 72% of average and North Island storage decreased to 103% of average by 10 March 2025
▪ Meridian’s February 2025 monthly total inflows were 42% of historical average
▪ Total inflows for the first two months of 2025 are the lowest recorded start to a calendar year since records began
▪ Waiau catchment inflows in February 2025 were 31% of historical average
▪ Meridian’s Waitaki catchment water storage at the end of February 2025 was 81% of historical average
▪ Water storage in Meridian’s Waiau catchment was 35% of average at the end of February 2025
▪ February 2025 was warm and dry for most regions, with temperatures above average across most of the country. Rainfall was below normal or well below normal in almost all regions of the country
▪ National electricity demand in February 2025 was 5.2% lower than the same month last year
▪ New Zealand’s Aluminium Smelter’s average load during February 2025 was 545MW
▪ Meridian’s retail sales volumes in February 2025 were 1.9% lower than February 2024
▪ Compared to February 2024, segment sales in residential were 0.5% lower, small medium business 2.5% lower, large business 0.6% lower, agricultural 10.1% lower and corporate 2.2% higher

Weekly lake storage updates are available on Meridian’s website. See comparative lake levels at: www.meridianenergy.co.nz/power-stations/lake-levels

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