Meridian Energy Limited (ASX:MEZ) Releases January Operating Report
Operational Highlights
Meridian Energy reported a decrease in national hydro storage from 114% to 91% of the historical average by 10 February 2025. South Island storage fell to 88%, while North Island storage was at 117% of average. January 2025 saw total inflows at 43% of the historical average, with Waiau catchment inflows at 27%. The Waitaki catchment water storage reached 104% of the historical average. The month was the second driest on record, and national electricity demand was 5.7% lower compared to the same month last year.
Retail Sales Performance
Retail sales volumes in January 2025 were 6.7% lower than in January 2024. Segment sales increased in residential by 3.2%, large business by 2.7%, and corporate by 4.9%, whereas small medium business decreased by 0.9% and agricultural by 36.7%. To date, retail sales volumes for the financial year are 2.0% lower than the same period last year.
Generation Performance
Generation in January 2025 was 7.5% higher than the same month last year, driven by increased hydro and wind generation. However, the average price received for generation was 43.6% lower. For the financial year, generation is 3.4% lower compared to the same period last year. The average price paid to supply customers was 37.3% lower in January 2025.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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