Meridian Energy says it generated 10 percent more electricity in December, compared to a year ago.
However, the price it got for that electricity was 5 percent lower due to above average water levels.
The company says it is seeing some signs of underlying growth in demand, despite the warm weather, due to a strong agricultural sector and economic growth in some regions.
However, Meridian says that it does not yet feel that it points to a long term trend, but it is encouraging given how flat demand has been over the last few years.
