MEL - Meridian Energy

[belted galloway]

Nope, I refuse to sign up!

Here's the press release directly:

https://www.meridianenergy.co.nz/abo...-at-manapouri/

[horus1]

The problem is that it is a sign of lack of maintenance which is very bad in the medium /longterm . Harmonic currents are high at Manapouri and the transformers get a hard time.

[Snow Leopard]

Here's the press release directly:

https://www.meridianenergy.co.nz/abo...-at-manapouri/

"The cooling unit and its generator have been removed from service. A new transformer will be ordered from an overseas manufacturer and is expected to be installed and operational by March 2015."

Throwing the old transformer away!
That strikes me as a major failure not only of the hardware but their asset monitoring - I wonder what actually happened!

For certain they do not want to end up with only five working units till next year.

Best Wishes
Paper Tiger

[blackcap]

It can't be that bad as the company is not announcing it to market so its not material.

[Harvey Specter]

"The cooling unit and its generator have been removed from service. A new transformer will be ordered from an overseas manufacturer and is expected to be installed and operational by March 2015."

Throwing the old transformer away!
That strikes me as a major failure not only of the hardware but their asset monitoring - I wonder what actually happened!

For certain they do not want to end up with only five working units till next year.

Best Wishes
Paper Tiger

probably well past it's used by date so they were just running it till it broke. No issue.

[rbel038]

“We don’t know the root cause yet, but what we do know is that within the oil cooler – which is an attachment to the transformer – bits of aluminium have broken away and we believe they’ve been sucked through into the body of the transformer itself,” says Neal Barclay, Meridian's general manager of markets and production.
“That can cause issues with electrical arcing. There are protection systems in place to catch all of that, but we don’t rely on those protection systems.” - ref . energy news

Each of the coolers were replaced in 1999

I agree at this stage it isnt material , they state it wont affect revenue. However if you have 7 units refurbished with the same gear and two have failed after 15 years (when the design life is usually 40-50) seems like its just something to keep an eye on as a shareholder/asset owner

[Snow Leopard]

“We don’t know the root cause yet, but what we do know is that within the oil cooler – which is an attachment to the transformer – bits of aluminium have broken away and we believe they’ve been sucked through into the body of the transformer itself,” says Neal Barclay, Meridian's general manager of markets and production.
“That can cause issues with electrical arcing. There are protection systems in place to catch all of that, but we don’t rely on those protection systems.” - ref . energy news

Each of the coolers were replaced in 1999

I agree at this stage it isnt material , they state it wont affect revenue. However if you have 7 units refurbished with the same gear and two have failed after 15 years (when the design life is usually 40-50) seems like its just something to keep an eye on as a shareholder/asset owner

Thanks for that extra info.

Best Wishes
Paper Tiger

[bull....]

what a good result, bonus 2cps div makes 17% div return alone on the receipts + cap gain 0f 30c haha what an investment

[percy]

what a good result, bonus 2cps div makes 17% div return alone on the receipts + cap gain 0f 30c haha what an investment

Fantastic.!!
Rather pleased to have transferred funds from my bank deposit 4% interest rate,and purchased MELCA.
Exceeded my wildest expectations,by a huge amount.!!!

[silu]

I haven't said this often about my investments lately but I'm really happy with MELCA and it stands out like a shining beacon.