MEL - Meridian Energy

[blackcap]

Well I just had a quick look and the money is still in my account as I type...

[limmy]

Midnight transfer.

[Onion]

Payments went out over night. I'm now a proper Meridian shareholder.

[Baa_Baa]

The journey to boredom and consistent returns has been overly full of excitement. A controversial state asset sale and IPO, price decline post-IPO, Labour/Greens spooking the mum's & dad's, National win election, SP sought after by yield players, dry summer concerns over lake levels, SP over bought and sell-down, instalment receipts due, MEL finally emerges amidst significant spike in lake levels. Hopefully MEL settles down now to being the low stress long hold strongly performing company that was the reason I bought it in the first place.

[Joshuatree]

RIO looking to sell its pacific aluminium assets (cnbc just now). Maybe less uncertainty re July 1st announcement re continuing power off take for tiwai.RIO have tried selling before but arguably the future for ALU prices looking better atm

[bull....]

if they sell out wont they leave electricity contract for new owners to decide

[tony64peter]

[QUOTE=bull....;572503]if they sell out wont they leave electricity contract for new owners to decide[/QUOTE.

There is no where else to get the power. Not a strong position to be in negotiating a contract for power after one has already bought and paid. I suspect RIO have a long term arrangement in play.

[xafalcon]

I think those brand new big shiny transformers were a huge clue to how ongoing power supply negotiations are progressing. One transformer needed replacement, but 3 were purchased. If there was uncertainty in Tiwai offtake, prudent business management would have replaced only the one that was necessary to maintain station operation

I'm wondering what will happen to SP and volume once normal trading resumes. I'm thinking deferred settlement is weighing on SP at the moment.

[xafalcon]

I think those brand new big shiny transformers were a huge clue to how ongoing power supply negotiations are progressing. One transformer needed replacement, but 3 were purchased. If there was uncertainty in Tiwai offtake, prudent business management would have replaced only the one that was necessary to maintain station operation

I'm wondering what will happen to SP and volume once normal trading resumes. I'm thinking deferred settlement is weighing on SP at the moment.

[mouse]

Tiwai Point is a good point. Maybe the best move for Meridian would be to sell Manapori to Rio Tinto. Meridian could then use the cash to buy back the top Twizel lake from Genesis and use the other half of the cash to give a cash return to investors. It is certainly a possibility. Comments please.

I think those brand new big shiny transformers were a huge clue to how ongoing power supply negotiations are progressing. One transformer needed replacement, but 3 were purchased. If there was uncertainty in Tiwai offtake, prudent business management would have replaced only the one that was necessary to maintain station operation

I'm wondering what will happen to SP and volume once normal trading resumes. I'm thinking deferred settlement is weighing on SP at the moment.