MEL - Meridian Energy

[Aaron]

Top 5 user! , wow!. thats very interesting thanks. I wont be hunting for verification.

I am guessing that maybe only Tiwai Point is significant, or are you just being a d**khead?

[Jantar]

Here is the article https://www.stuff.co.nz/business/121...inary-decision

Watch this space...

Here is the full decision: file:///C:/Users/Admin/Downloads/Pre...-UTS-claim.pdf

Contact did not come out of it completely untouched as it is stated that Contact did offer in such a way that overnight generation was impacted. However it wasn't as bad or as blatant as Meridian and hence Contact were not guilty of a UTS.

There is a separate investigation into whether or not the High Standards of Trading Conduct provisions were breached. This is a less serious charge, but still it is one that no company wants to have decided against them.

[Joshuatree]

I am guessing that maybe only Tiwai Point is significant, or are you just being a d**khead?

On 2nd thoughts maybe you'd better verify that Aaron before you fly off the handle. A link? "Apparently" doesnt confirm anything,Thanks.

[Aaron]

On 2nd thoughts maybe you'd better verify that Aaron before you fly off the handle. A link? "Apparently" doesnt confirm anything,Thanks.

Your response seemed unhelpful. I remember seeing it mentioned in an article about NZR which I can't now find and wondered whether this takes on the significance that Tiwai Point does. Asking on here to see if this might be an issue for the power companies as I don't know. I guess it doesn't.

FYI links that I could find.
https://www.mbie.govt.nz/dmsdocument...ions-paper-pdf
Its states NZR consumes 31% of northlands power (although this might not be much as nthld is pretty small)

It is a member of MEUG although this idoes not say where they rate regarding consumption or how much for that matter.
http://www.meug.co.nz/members-list

[Aaron]

Yeah go figure, 109 pages of report too big for the market to digest. There will be long term consequences for this but very hard to predict the magnitude.

The Electricity Authority has found that generator Meridian Energy manipulated the power market, costing consumers about $80 million.

$80 million would be about the right size for a penalty I would imagine.

[Jantar]

The Electricity Authority has found that generator Meridian Energy manipulated the power market, costing consumers about $80 million.

$80 million would be about the right size for a penalty I would imagine.

I suspect the fina figure will be less than that. The EA determined that an extra 55MW on average would have dispatched at a price of $6.75. However there is no way any the main generators in the South Island would allow the price to drop that low.

Over that period South Island generators paid Transpower approximately $6.40 per MW for the HVDC. Add to that the approximately $2.20 per MW opex cost and the minimum return per MW just to break even is $8.60. Therefore it would be foolish for South Island generators to allow sustained prices lower than this.

[King1212]

Classic pumped n dumped by big boys...they certainly knew the news will be out... Smelter will be closed

[ananda77]

Classic pumped n dumped by big boys...they certainly knew the news will be out... Smelter will be closed

YES, after weeks of after market trades in CEN which compressed the price lower, then this rally?? Sold my last CEN at 6.82. What appears to be too good to be true....etc. Mind you, there is always 'Who Knows"

[Waltzing]

MCY actually went up? do they benefit

[horus1]

Yes they do