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Meridian Energy Limited (ASX:MEZ)

ALERT: Price-sensitive ASX Announcement for MEZ
Current share price for MEZ : $4.730 0.28 (6.29%)+
Announcement
Release
16 Mar 2026 7:30AM
Price at Release
$4.450
Full Release
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Summary
Meridian Energy Limited released its monthly operating report for February 2026, highlighting its generation and financial performance metrics. The report indicates that Meridian's hydro generation for the month was 949 GWh, a slight increase from the previous year's 940 GWh. Wind generation stood at 130 GWh, up from 85 GWh, and BESS (Battery Energy Storage Systems) contributed 3 GWh. The average generation price was notably lower at $41.3 NZD/MWh compared to $253.1 NZD/MWh in February 2025. Employee and operating costs were steady at $22 million, and total capital expenditure for the month was $26 million, with a focus on both stay-in-business and investment capital. The report also covers Meridian's New Zealand hedging activities with a total hedging volume of 460 GWh, and outlines average retail and wholesale contracted sales prices. The financial year-to-date figures highlight an increase in generation and hedging volumes, though the average prices have experienced significant fluctuations due to various market conditions.
Key Points
  • Hydro generation volume for February 2026 was 949 GWh.
  • Wind generation increased to 130 GWh compared to February 2025.
  • BESS contributed 3 GWh to the total generation volume.
  • Average generation price dropped to $41.3 NZD/MWh.
  • Employee and operating costs were maintained at $22 million.
  • Total capital expenditure for February 2026 was $26 million.
  • Hedging volume for the month was 460 GWh.
  • Average retail and wholesale contracted sales prices were reported.
  • Notable fluctuations in average prices due to market conditions.
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.