2 Aug 2012

Meridian generation volumes fall

8:00 pm on 2 August 2012

Meridian says its energy generation volumes fell by a third in the June quarter, compared to the same period last year, following unprecedented low inflows into its catchments.

Annual generation volumes fell 19% which Meridian says reflects record low inflows and the sale of its Tekapo power stations to Genesis Energy.

Below-average inflow and the cooler winter weather helped raise the company's wholesale prices last quarter, compared to the three months to March.

Meridian's full-year results will be published in about two weeks.