WELLINGTON (dpa-AFX) - Meridian Energy Limited (MEZ.AX) reported higher retail sales volumes, improved customer demand, and rising hydro storage supported by sizeable inflows in April.
Meridian's retail sales volumes increased 8.2% year-on-year, driven by broad-based growth across segments: residential up 25%, small and medium business rose 9.2%, large business increased 11.4%, agriculture grew 6.1%, and corporate up 0.8%.
National hydro storage rose to 119% of the historical average as of 11 May 2026, up from 106% in the prior month.
Meridian's April 2026 inflows were 98% of the historical average. For the financial year to date, total inflows reached 121% of average, marking the eighth-highest annual inflow on record.
National electricity demand in April 2026 increased 3.7% year-on-year, or 2.6% excluding New Zealand Aluminium Smelters Ltd (NZAS).
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