Meridian Energy boosts Nov 2013 power output

Dec 18, 2013 - Meridian Energy Ltd (NZE:MELCA) saw its total power generation in November rise to 1,145 GWh from 1,022 GWh a year earlier, the New Zealand state-run utility said on Wednesday.

In October, the power producer’s output stood at 1,085 GWh.

Hydropower generation last month increased to 1,059 GWh from 922 GWh in November 2012. Wind power production decreased to 86 GWh from 100 GWh.

The average price per MWh generated in November was NZD 25.5, falling from NZD 28.9 a year before, due to higher than average hydro storage position.

Meridian Energy raised NZD 1.88 billion (USD 1.55bn/EUR 1.12bn) in its initial public offering (IPO) in October. For the whole of 2013 it sees “relatively" flat demand as compared to 2012 levels, affected by pressure from a reduction in Norske Skog Tasman Mill consumption and mild winter temperatures, it had said previously.

(NZD 1.0 = USD 0.825/EUR 0.599)

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