 | |
| Company type | Public |
|---|---|
| NZX:MEL ASX: MEZ | |
| Industry | Electricity generation Electricity retailing |
| Predecessor | Electricity Corporation of New Zealand |
| Founded | 16 December 1998; 27 years ago (1998-12-16)[1] |
| Headquarters | , |
Key people | Mike Roan, Chief Executive |
| Revenue |  NZ$2,319 million (2017)[2] |
 NZ$653 million (2017)[2] | |
| NZ$197 million (2017)[2] | |
| Total assets | NZ$8,665 million (2017)[2] |
| Total equity | NZ$5,082 million (2017)[2] |
| Owner | New Zealand Government (51.02%, 2016) |
Number of employees | 959 (2017)[2] |
| Subsidiaries | Powershop |
| Website | www |
Meridian Energy Limited is a New Zealand electricitygenerator andretailer. 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 break-up of theElectricity Corporation of New Zealand (ECNZ) in 1998–99, taking over the Waitaki River and the Manapouri hydro schemes. Originally astate-owned enterprise wholly owned by the New Zealand Government, the company was partiallyprivatised in October 2013 by theFifth National Government, with the government retaining a 51.02% shareholding.
Today, Meridian operates seven hydroelectric power stations and one wind farm in theSouth Island of New Zealand, and four wind farms in theNorth Island.
Meridian originated from the break-up of theElectricity Corporation of New Zealand (ECNZ) in 1999 as a result of the reforms of theNew Zealand Electricity Market. Meridian's share of ECNZ wascorporatised as astate-owned enterprise with its own board of directors and with two Ministerial shareholders: theMinister of Finance and the Minister ofState-Owned Enterprises. In 2013 it was partially privatised by thefifth 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 ofNorthpower, Centralines, Scanpower, and Network Waitaki, and later acquiredOrion's retail base from NGC.
In May 2025, Meridian Energy entered an agreement to acquire the Flick retail electricity business fromZ Energy, along with Z Energy's electricity customers, for NZ$70 million.[11][12]
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 five wind farms in New Zealand, 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 | |
| Harapaki | Wind | 34 km northwest of Napier | 41 | 176 | 2023 | ||
| Manapouri | Hydroelectric | Lake Manapouri,Fiordland National Park | 7 | 800 | 4800 | 1971 | |
| Mill Creek | Wind | Ohariu Valley, NW of Wellington | 26 | 60 | 2014 | [13] | |
| Ōhau A | Hydroelectric | Waitaki River | 4 | 264 | 1140 | 1979 | |
| Ōhau B | Hydroelectric | Waitaki River | 4 | 212 | 958 | 1984 | |
| Ōhau 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 | Mākara, west ofWellington | 62 | 143 | 600 | 2009 | |
| White Hill | Wind | nearMossburn,Southland | 29 | 58 | 230 | 2007 | |
Projects being developed by Meridian Energy include the following.[14]
| Name | Type | Capacity | Location | Status |
|---|---|---|---|---|
| Mt Munro | Wind | 60 MW | NearEketāhuna | Consents granted[15] |
| Hurunui[16] | Wind | 80 MW | Greta Valley North Canterbury | consent lapsed in 2023 |
| Pukaki | Hydro | 35 MW | On thePukaki River | Consents granted[17] |
| Manapouri amended discharge project | Hydro | Consents granted | ||
| Ruakākā Energy Park | Solar and battery | 130 MWp | Ruakākā, Northland | Battery under construction[18] |
| 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] |
| Project Central Wind | Wind | 130 MW | Between Waiouru & Taihape, North Island | Consents expired; project sold to Manawa Energy |
| Project Gumfields | Wind | near Ahipara, Northland | Cancelled | |
| Mohaka | Hydro | 44 MW | Mohaka River, south of Wairoa | Cancelled |
| Rototuna | Wind | 500 MW | Northland west coast | Cancelled 2017[22] |
| Windy Peak[23] | Wind | 8 km SE ofMartinborough | Cancelled |
In 2006,Greenpeace judged Meridian as the only "green" electricity company in New Zealand.[25] In 2007, Meridian announced that it had receivedCarboNZero certification fromLandcare Research confirming that the generation and retailing of its electricity wascarbon neutral.[26][27]
In 2008, Meridian issued and sold the first carbon credits issued and sold under the JI program of the Kyoto Protocol.[citation needed]
In June 2008,National's Climate Change spokesmanNick Smith complained to theCommerce Commission that Meridian's claim ofcarbon neutrality in its advertising was misleading as Smith considered that Meridian had 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.[28] In July 2009, the Commerce Commission concluded that Meridian's statements of carbon neutrality were not misleading.[29]
In 2015 Meridian began converting its business fleet to electric vehicles in an effort to reduce carbon emissions.[30] In early 2019 Meridian joined the EV100 initiative, it has committed to its light passenger vehicle business fleet becoming 100% electric by 2030.[31] In August 2019 the company won the Deloitte Energy Award for a Low Carbon Initiative for its work on electric business fleet conversion.[32]
Meridian Energy are National Partners of theDepartment of Conservation Kākāpō Recovery Programme since 2016.Kākāpō are an endangered New Zealand native parrot. The involvement helps fund research and initiatives relating to genetics, nutrition, disease management and finding new sites.[33] Meridian staff are also involved through providing electrical support and volunteers to the remote pest-free islands the kākāpō are surviving on.
In 1990 Meridian established Project River Recovery,[34] recognising the impacts ofhydroelectric development from the 1930s to the 1980s on theWaitaki's braided rivers andwetlands.[35] Project River Recovery's work is run by the New Zealand Department of Conservation and includes intensive weed control, predator control, construction of wetlands, and research and monitoring programmes. When Tekapo A and Tekapo B were sold toGenesis Energy in 2011, the electricity company joined the compensatory funding agreement.[36]
In 1996 the Waiau Fisheries and Wildlife Enhancement Trust was formed to mitigate and improve the Waiau River from impacts by the Manapouri Hydro Station. The trust was established in partnership with the Waiau Working Party and ECNZ (now Meridian Energy Limited).[37] The area covered is fromTe Wae Wae Bay in the south toLake Te Anau in the north. The work focuses on enhancing wetlands, waterways and riparian plantings.
Wellington is well known for wind and the Meridian Energy Wind Sculpture walkway celebrates this. In 2007 the four sculptures won Best Public Art[38] and the final piece was opened in May 2010.[39] The five sculptures are theZephyrometer byPhil Price,Urban Forest byLeon van den Eijkel (in collaboration with Allan Brown),Akau Tangi by Phil Dadson,Tower of Light byAndrew Drummond andPacific Grass by Kon Dimopoulos. The sculptures are managed by the Wellington Sculpture Trust.[40]
In 2013 Meridian became the principle partner of theKidsCan Charity.[41] In April 2019 the company committed to a further three years of support, helping provide lunches, raincoats, shoes and warm clothing to kids in need.[42]
Meridian supports communities near its generation assets through the Power Up fund.[43] This includes promoting conservation, community and educational efforts in seven communities around New Zealand.
In 2019, Meridian was found to mislead consumers when they implied the electricity they retailed was 100% renewable after a complaint was brought to the Advertising Standards Authority by rival retailerElectric Kiwi.[44][45] Additionally, Meridian Energy was found to have pushed up power prices in December 2019 by unnecessarily spilling water from its South Island dams that could have been used for generation, according to a preliminary ruling from New Zealand's Electricity Authority.[46]
