Meridian Energy

Meridian Energy
Public
Traded as NZX: MEL
ASX: MEZ
Industry Electricity generation
Electricity retailing
Predecessor Electricity Corporation of New Zealand
Founded 16 December 1998 (16 December 1998)[1]
Headquarters Wellington, New Zealand
Key people
Mark Binns, Chief Executive
Revenue DecreaseNZ$2,375 million (2016)[2]
IncreaseNZ$650 million (2016)[2]
Profit DecreaseNZ$185 million (2016)[2]
Total assets IncreaseNZ$8,538 million (2016)[2]
Total equity IncreaseNZ$5,050 million (2016)[2]
Owner New Zealand Government (51.02%, 2016)
Number of employees
866 (2016)[2]
Subsidiaries Powershop
Website www.meridianenergy.co.nz

Meridian Energy Limited is a New Zealand electricity generator and retailer. The company generates the largest proportion of New Zealand's electricity, generating 35 percent of the country's electricity in the year ending December 2014, and is the fourth largest retailer, with 14 percent of market share in terms of customers as of December 2015.[3][4]

Meridian was one of three electricity companies formed from the breakup of the Electricity Corporation of New Zealand (ECNZ) in 1998-99, taking over the Waitaki River and the Manapouri hydro schemes. Originally a state-owned enterprise wholly owned by the New Zealand Government, the company was partially privatised in October 2013 by the Fifth National Government, with the government retaining a 51.02% shareholding.

Today, Meridian operates seven hydroelectric power stations and one wind farm in the South Island of New Zealand, four wind farms in the North Island, and two wind farms in southern Australia. One in South Australia and one in Victoria. It is one of three major electricity generators to only generate electricity from renewable sources (the others being Trustpower and Mercury Energy), and the only electricity generator in New Zealand to commit itself to only generate electricity from renewable sources.

History

Meridian originated from the breakup of the Electricity Corporation of New Zealand (ECNZ) in 1999 as a result of the reforms of the New Zealand electricity market. Meridian's share of ECNZ was corporatised as a state-owned enterprise with its own board of directors and with two Ministerial shareholders: the Minister of Finance and the Minister of State-Owned Enterprises. In 2013 it was partially privatised by the fifth National Government of New Zealand.[5]

As part of reforms, local electricity companies were split into lines and retail and the retail portion sold off. Meridian initially acquired the retail base of Northpower, Centralines, Scanpower, and Network Waitaki, and later acquired Orion's retail base from NGC.

Power stations

Hydro
Wind
Manapouri
Benmore
Aviemore
Ohau A
Ohau B
Ohau C
Waitaki
Te Apiti
Te Uku
West Wind
White Hill
Location of power stations owned and operated by Meridian Energy in New Zealand.

Meridian Energy owns and operates seven hydroelectric power stations in the South Island - six on the Waitaki River and at Manapouri. It also owns and operates seven wind farms in New Zealand and Australia, and a single turbine in Brooklyn, Wellington. In total, Meridian has a total installed capacity of 2,754 MW in New Zealand and 201 MW overseas.

Name Type Location No. turbines Capacity (MW) Annual generation
(average GWh)
Commissioned Notes
New Zealand stations
Aviemore Hydroelectric Waitaki River 4 220 942 1968
Benmore Hydroelectric Waitaki River 6 540 2215 1965
Manapouri Hydroelectric Lake Manapouri, Fiordland National Park 7 800 4800 1971
Mill Creek Wind Ohariu Valley, NW of Wellington 26 60 2014 [11]
Ohau A Hydroelectric Waitaki River 4 264 1140 1979
Ohau B Hydroelectric Waitaki River 4 212 958 1984
Ohau C Hydroelectric Waitaki River 4 212 958 1985
Te Āpiti Wind Ruahine Ranges 55 91 320 2004
Te Uku Wind near Raglan, Waikato 28 64.4 2011
Waitaki Hydroelectric Waitaki River 6 90 496 1934
Wellington Wind Turbine Wind Brooklyn, Wellington 1 0.23 1 1993
West Wind Wind Makara, west of Wellington 62 143 600 2009
White Hill Wind near Mossburn, Southland 29 58 230 2007
Australian stations
Mt Millar[12] Wind southwest of Whyalla, South Australia 35 70 2004
Mt Mercer Wind near Ballarat, Victoria 64 131 2014[13]

Proposed

Projects being developed by Meridian Energy include the following.[14]

Meridian Energy Development Projects
Name Type Capacity Location Status
Project Gumfields Wind near Ahipara, Northland
Rototuna Wind 500 MWNorthland west coast
Mohaka Hydro 44 MW Mohaka River, south of Wairoa
Project Central Wind Wind 130 MW between Waiouru and Taihape, North Island consents granted
upheld by Env Court
Windy Peak[15] Wind 8 km SE of Martinborough consultation[15]
Mt Munro Wind 60 MW near Eketahuna applied for consents[16]
Hurunui[17] Wind 80 MW Greta Valley, North Canterbury
Pukaki Hydro 35 MW on the Pukaki River consents granted[18]
Hunter Downs Irrigation Waitaki River, South Canterbury
Manapouri amended discharge project Hydro Consents Granted

Cancelled

Name Type Capacity Location Status
Project Aqua Hydro 520 MW South Canterbury Cancelled March 2004
North Bank tunnel Hydro 280 MW on the Waitaki River Cancelled January 2013[19]
Project Hayes Wind 630 MW central Otago Cancelled January 2012[20]
Mokihinui Hydro Hydro 60 MW north of Westport Cancelled May 2012[21]

Carbon footprint

In 2006, Greenpeace judged Meridian as the only "green" electricity company in New Zealand.[22] In 2007, Meridian announced that it had received CarboNZero certification from Landcare Research confirming that the generation and retailing of its electricity was carbon neutral.[23][24]

In June 2008, National's Climate Change spokesman Nick Smith complained to the Commerce Commission that Meridian's claim of carbon neutrality in its advertising was misleading as Smith considered that Meridian has to buy thermally generated power during dry years to supply its customers. A spokesman for Meridian said they stood by the validity of the certification of their carbon-neutral status.[25] In July 2009, the Commerce Commission concluded that Meridian's statements of carbon neutrality were not misleading.[26]

Subsidiaries

See also

References

  1. "Meridian Energy Limited (938552) -- Companies Office". Ministry of Business, Innovation and Employment. Retrieved 7 September 2014.
  2. 1 2 3 4 5 6 "2016 Annual Report". Meridian Energy. 19 August 2016. Retrieved 19 August 2015.
  3. "Energy in New Zealand". MBIE. Aug 2015. ISSN 2324-5913.
  4. "Market share snapshot". Electricity Authority (New Zealand). Retrieved 20 January 2016.
  5. Meridian to be listed in October. 3 News NZ. 16 September 2013.
  6. "Decision W031/2007" (PDF). Environment Court. 14 May 2007.
  7. "White Hill wind farm". Meridian Energy.
  8. "West Wind Powers Wellington". NZ Wind Energy Association. 29 April 2009.
  9. "Genesis Energy set to acquire Meridian Energy hydro plants". Power-Gen Worldwide. PennWell Corporation. 2011-05-16. Retrieved 2011-06-04.
  10. Govt sure Kiwis will reach Meridian goal. 3 News NZ. 30 September 2013.
  11. "Mill Creek switches on to Wellington wind" (Press release). Meridian Energy. 14 May 2014.
  12. "Meridian to buy Australian windfarm". 11 May 2010.
  13. "Mt Mercer 131MW wind farm switched on in Victoria", in RenewEconomy, 11 September 2014
  14. "Our Projects". Meridian Energy.
  15. 1 2 Katterns, Tanya (15 May 2010). "Martinborough wind farm put on hold". Dominion Post. Retrieved 2010-10-20.
  16. Crombie, Nathan (26 January 2012). "Consent bid for Eketahuna wind farm". Wairarapa Times-Age.
  17. "Wind farm planned for North Canterbury". Radio New Zealand. 4 April 2010.
  18. Bruce, David (16 June 2011). "Pukaki hydro scheme gains resource consent". Otago Daily Times.
  19. Rutherford, Hamish (24 February 2013). "Meridian's $70m for hydro schemes heads down drain". Fairfax NZ News.
  20. Edens, John (19 January 2012). "Meridian quits $2 billion wind project". Fairfax NZ News.
  21. Wood, Alan (22 May 2012). "Meridian pulls plug on Mokihinui project". Fairfax Media (via Stuff.co.nz). Retrieved 22 May 2012.
  22. Anne Beston (21 September 2006). "Prizes to switch electricity firms". The New Zealand Herald. Retrieved 4 February 2011.
  23. "Meridian has certified carbon neutral electricity" (Press release). Meridian Energy. 26 February 2007. Retrieved 14 August 2012.
  24. "New Zealand to be carbon neutral by 2020" (PDF). Ecos 7. April–May 2007. p. 136. Retrieved 2007-11-26.
  25. Newstalk ZB (14 June 2008). "Meridian's carbon neutral claim 'false' - MP". The New Zealand Herald. Retrieved 4 February 2011.
  26. "Carbon market problems expected to be solved - minister". Radio New Zealand. 26 July 2009. Retrieved 29 September 2012.
This article is issued from Wikipedia - version of the 11/4/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.