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16-09-2022, 08:51 AM
#2451
Member
A good monthly update, moi thinks.
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01-12-2022, 08:12 PM
#2452
https://www.meridianenergy.co.nz/new...ew-blog-post-7
Thought this might have warranted market advice.
For those interested.
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02-12-2022, 09:22 AM
#2453
Junior Member
Seems Meridian is trying to pitch this as an alternative to onslow. Will be interesting to see where it goes, especially after contact backs out
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15-12-2022, 10:44 AM
#2454
Junior Member
Meridian to build battery at Ruakaka. 100MW peak delivery, with 200MWh of storage to be completed in 2nd half 24
Meridian to build Ruakākā Battery Energy Storage System - NZX, New Zealand’s Exchange
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24-03-2023, 06:58 PM
#2455
Divvy in the bank yesterday. One more payment like it will make this holding in the negative-book-value territory. A very nice gift from the gov't had you participated and/or accumulated since its IPO. Congrats to all holders
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29-08-2023, 09:03 AM
#2456
https://www.nzx.com/announcements/417236
Meridian Energy has reported net profit after tax of $95 million for the year ended 30 June 2023, downfrom $664 million reported last year, which included the gain on the sale of Meridian's Australianbusiness and positive non-cash movements in the value of hedge instruments.
Excluding the gain on sale and non-cash movements in hedge instruments, underlying net profit aftertax1 was up 35% to $315 million and operating earnings or EBITDAF2, was up 10% to $783 million forthe year ended 30 June 2023. This improved operating result was driven by higher customer sales,higher generation volumes and positive wholesale trading results.
“We’ve continued to focus on playing a key role in helping Aotearoa New Zealand to decarbonise bydriving forward with our renewable developments and offering customers an enhanced range of cleanenergy solutions,” says Chief Executive Neal Barclay.“I’m particularly proud that Meridian is leading the market in being the first New Zealand company toprogress a grid-scale battery construction in this country, which will add significantly more flexibility tothe electricity system in the form of energy storage. We have also secured credible and committedpartners to advance the Southern Green Hydrogen project. We see this as a potential game changeras it will support Aotearoa’s drive to energy independence by providing significant demand responseand an energy source for hard to abate processes.”
The Board declared a final ordinary dividend of 11.90 cents per share, 3% higher than the previousyear. This brings the total ordinary dividends declared for the year to 17.90 cents per share, also 3%higher than the previous year.
Meridian grew overall sales volumes by 2.6%, while also increasing focus on creating moremeaningful relationships with customers to support their decarbonisation opportunities.
The company has made good progress expanding the Zero electric vehicle charging network, as wellas electric vehicle and solar customer participation. Meridian is also supporting customers with bothprocess heat conversion and demand flexibility volumes, which is building on the 50MW demandresponse agreement reached with New Zealand’s Aluminum Smelter, announced in June, andsupports our low carbon hedge portfolio.
This month, Powershop won Consumer New Zealand’s People’s Choice award for the third year in arow, and the sixth time since 2015.During the year, Meridian completed the migration of the Meridian customers to the Flux customercare and billing platform.
All Meridian customers are now on this world-class platform that will enablethe business to continue to deliver great customer service and innovative products in a rapidlyevolving competitive environment. The company also expects to continue to reduce the cost to serveits customers.
Meridian’s Energy Wellbeing program, launched during the year, continued to support the company’smost vulnerable customers.“An initial trial provided support for 250 households, and we found that by being a conduit into socialsupport agencies and by applying our own capabilities we were able to help these customers withenergy affordability challenges,” says Barclay.
“We are now ramping up the program and targeting $5 million into a new Energy Wellbeing Fund tosupport families in energy hardship with the aim of reaching 5,000 households by the end of 2024.”
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15-04-2024, 03:51 AM
#2457
The United States has announced sanctions prohibiting the trading of Russian metals including aluminum on the London Metal Exchange and the Chicago Mercantile Exchange. In addition they have prohibited the import of these metals into the United States.
This should strengthen the hand of Meridian in power supply negotiations with the smelter
https://www.bloomberg.com/news/artic...s-on-exchanges
Boop boop de do
Marilyn
Diamonds are a girls best friend.
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16-04-2024, 05:25 PM
#2458
![Quote](images/misc/quote_icon.png) Originally Posted by Marilyn Munroe
The United States has announced sanctions prohibiting the trading of Russian metals including aluminum on the London Metal Exchange and the Chicago Mercantile Exchange. In addition they have prohibited the import of these metals into the United States.
This should strengthen the hand of Meridian in power supply negotiations with the smelter
https://www.bloomberg.com/news/artic...s-on-exchanges
Boop boop de do
Marilyn
I think the deal has largely been agreed already.
The smelter recently bought new uniforms for all their staff, the cost was eye-watering (6 figures from memory). No business about to "up sticks and leave" would waste that amount of money on new sets of kit for soon the be redundant employees
And transpower has upgraded the lines heading north, so manapouri power is no longer entirely stranded in southland if NZAS ever decides to leave
The days of NZAS having overwhelming leverage are gone. However, NZAS pays an important role in the electricity market, helping to keep supply and demand balanced (always on the tight side), and consequentially keeping wholesale prices high. So this will have added some restraint to price demands
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