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Meridian Energy Limited (ASX:MEZ)

ALERT: Price-sensitive ASX Announcement for MEZ
Current share price for MEZ : $4.740 -0.38 (-7.42%)+
Announcement
Release
15 Aug 2025 7:31AM
Price at Release
$5.120
Full Release
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Summary
Meridian Energy Limited's monthly operating report for July 2025 highlights a decrease in national hydro storage from 104% to 87% of the historical average, with South Island storage at 79% and North Island at 119%. Despite these storage challenges, the company reported a 9.4% increase in retail sales volumes compared to July 2024, driven by significant increases in residential and small-medium business segments. Generation volumes reached 1,157 GWh, primarily from hydro, while the average price received for generation saw a sharp decline. Retail supply costs reduced significantly, aligning with an overall increase in customer connections.
Key Points
  • National hydro storage decreased from 104% to 87% of historical average by August 11, 2025.
  • South Island storage decreased to 79% and North Island storage decreased to 119% of average.
  • Meridian's July 2025 inflows were 89% of historical average.
  • Retail sales volumes in July 2025 were 9.4% higher than July 2024.
  • Residential sales were 15.9% higher and small medium business sales were 8.6% higher than July 2024.
  • The average generation price received in July 2025 was 71.4% lower compared to the previous year.
  • Total generation volume was 1,157 GWh, with hydro at 1,022 GWh and wind at 135 GWh.
  • The cost to supply retail customers was $113.3/MWh.
  • Meridian's customer connections increased by 1.4% during July 2025.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.