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28-07-2022, 02:19 PM
#2441
Originally Posted by xafalcon
Every NZ household is paying an extra tra $200 per year thanks to the current pricing agreed by MEL & CEN. That is $0.025/kWh based on average 8000kWh usage
That's not difficult. No NZ household has the volume to exert pricing power. RT has the volume to exert pricing power. So it does. You or I would do the same.
But once there are serious options available to use the electricity currently used by RT, the threat of closure diminishes and the picture changes.
Now, out of idle curiosity, should RT close the smelter, who is liable for any site clean-up costs?
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28-07-2022, 02:48 PM
#2442
Originally Posted by GTM 3442
Now, out of idle curiosity, should RT close the smelter, who is liable for any site clean-up costs?
NZAS has acknowledged they are responsible for remediation costs, when they finally shut down the plant
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28-07-2022, 04:10 PM
#2443
Rio T will be thinking there is no way the manapouri electricity will be used for any other purpose because the current Government simply can't build or deliver anything. Talk of a green hydrogen plant is pie in the sky. RT must be laughing.
Redeployment of smelter workers at a data centre is not going to happen as these are largely lights out operations.
Meridian and co will tell us they're going to talk tough...then later we'll hear they sold NZ down the drain, again.
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30-07-2022, 02:56 PM
#2444
Member
NZAS will be prepared to pay more so that they can start getting the emissions trading scheme industrial allocation subsidy again.
here's a little summary of that change earlier this year for those who missed it
https://www.newsroom.co.nz/smelters-...ubsidy-slashed
and if you want the detail:
https://www.treasury.govt.nz/sites/d...seaf-mar22.pdf
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07-08-2022, 10:09 AM
#2445
Member
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09-08-2022, 06:39 PM
#2446
Member
Quietly keeps on trucking in the right direction. I love it.
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18-08-2022, 10:34 AM
#2447
Electricity Authority makes 'urgent' move to block cheap Tiwai smelter power deal
https://www.stuff.co.nz/business/129...ter-power-deal
one step ahead of the herd
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18-08-2022, 12:33 PM
#2448
Looked like a big increase in revenue was coming for Meridian:
The smelter is believed to paying its major supplier, Meridian Energy, a low-ball price of about 3.5 cents per kilowatt-hour for power
....
Market speculation prior to the authority’s intervention suggested that a new power contract could be struck at a price in the region of 6 to 8 cents per kilowatt-hour.
The bureaucrats think they know better than the professionals though...
A positive interpretation is the EA will leverage Rio Tinto into paying more but we all know they are just a political construction so can and will be ignored by the government once the pressure comes on. So will just result in an increase in costs and uncertainty for everyone and yet more bureaucrats being hired where there should be none.
Amazing how dysfunctional and inefficient the power market is.
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24-08-2022, 08:32 AM
#2449
Meridian Energy Limited 2022 Full Year Financial Results - NZX, New Zealand’s Exchange
Meridian Energy has reported underlying net profit after tax1 of $233 million, a slight increase on the prior year figure of $231 million. EBITDAF2for the year was $709 million, up $17 million or 2.5% on the prior year. Including the benefit of a $214 million gain on the sale of its Australian business and $281 million of positive non-cash movements in the value of hedge instruments, Meridian Energy has reported$664 million of net profit after tax for the year ended 30 June 2022
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24-08-2022, 02:22 PM
#2450
Originally Posted by Sideshow Bob
Meridian Energy Limited 2022 Full Year Financial Results - NZX, New Zealand’s Exchange
Meridian Energy has reported underlying net profit after tax1 of $233 million, a slight increase on the prior year figure of $231 million. EBITDAF2for the year was $709 million, up $17 million or 2.5% on the prior year. Including the benefit of a $214 million gain on the sale of its Australian business and $281 million of positive non-cash movements in the value of hedge instruments, Meridian Energy has reported$664 million of net profit after tax for the year ended 30 June 2022
So why the 3% drop in the SP?
Surely after the extraordinary one-off gains we could be looking at a special div perhaps?
All science is either Physics or stamp collecting - Ernest Rutherford
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