Meridian Energy monthly operating report for January 2022

Linked here is Meridian Energy Limited's monthly operating report for the month of January 2022.

Highlights this month include:

▪ In the month to 14 February 2022, national hydro storage increased from 115% to 117% of historical average
▪ South Island storage increased to 113% of average and North Island storage increased to 146% of average by 14 February 2022
▪ Meridian’s January 2022 monthly total inflows were 41% of historical average, the lowest January monthly inflows on record
▪ Meridian’s Waitaki catchment water storage at the end of January 2022 was 99% of historical average
▪ Water storage in Meridian’s Waiau catchment was well below average at the end of January 2022
▪ Waitaki snow storage in early February 2022 was 93% of historical average
▪ National electricity demand in January 2022 was 1.9% higher than the same month last year
▪ January was a warm and very dry month with above average temperatures and rainfall well below average for almost all the country
▪ New Zealand Aluminium Smelter’s average load during January 2022 was 572MW
▪ Meridian’s New Zealand retail sales volumes in January 2022 were 16.2% higher than January 2021
▪ Compared to January 2021, segment sales increased in residential +13.6%, small medium business +23.1%, agricultural +14.2% and corporate +18.9%. Large business volumes were -3.7% lower than January 2021

ENDS
Neal Barclay
Chief Executive
Meridian Energy Limited