Meridian Energy

Mercury Energy New Zealand Genesis Energy Limited

Meridian Energy Limited
Public
Traded asNZX: MEL
ASXMEZ
IndustryElectricity generation
Electricity retailing
PredecessorElectricity Corporation of New Zealand
Founded16 December 1998; 21 years ago (1998-12-16)[1]
Headquarters,
Key people
Neal Barclay, Chief Executive
RevenueDecreaseNZ$2,319 million (2017)[2]
IncreaseNZ$653 million (2017)[2]
IncreaseNZ$197 million (2017)[2]
Total assetsIncreaseNZ$8,665 million (2017)[2]
Total equityIncreaseNZ$5,082 million (2017)[2]
OwnerNew Zealand Government (51.02%, 2016)
Number of employees
959 (2017)[2]
SubsidiariesPowershop
Websitemeridianenergy.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 break-up 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. Despite this commitment, 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.[5]

History

Meridian originated from the break-up 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.[6]

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

Meridian Energy is located in New Zealand
Hydro
Hydro
Wind
Wind
Manapouri
Manapouri
Benmore
Benmore
Aviemore
Aviemore
Ohau A
Ohau A
Ohau B
Ohau B
Ohau C
Ohau C
Waitaki
Waitaki
Te Apiti
Te Apiti
Te Uku
Te Uku
West Wind
West Wind
White Hill
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 [12]
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 Mākara, west of Wellington 62 143 600 2009
White Hill Wind near Mossburn, Southland 29 58 230 2007
Australian stations
Mt Millar[13] Wind southwest of Whyalla, South Australia 35 70 2004
Mt Mercer Wind near Ballarat, Victoria 64 131 2014[14]

Proposed

Projects being developed by Meridian Energy include the following.[15]

Meridian Energy Development Projects
Name Type Capacity Location Status
Harapaki Wind 34 km northwest of Napier Consented [16]
Rototuna Wind 500 MW Northland west coast
Project Central Wind Wind 130 MW between Waiouru and Taihape, North Island consents granted
upheld by Env Court
Mt Munro Wind 60 MW near Eketahuna applied for consents[17]
Hurunui[18] Wind 80 MW Greta Valley, North Canterbury
Pukaki Hydro 35 MW on the Pukaki River consents granted[19]
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[20]
Project Hayes Wind 630 MW central Otago Cancelled January 2012[21]
Mokihinui Hydro Hydro 60 MW north of Westport Cancelled May 2012[22]
Project Gumfields Wind near Ahipara, Northland Cancelled
Mohaka Hydro 44 MW Mohaka River, south of Wairoa Cancelled
Windy Peak[23] Wind 8 km SE of Martinborough Cancelled

Sustainability

Carbon Footprint

In 2006, Greenpeace judged Meridian as the only "green" electricity company in New Zealand.[24] 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.[25][26]

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 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 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.[27] In July 2009, the Commerce Commission concluded that Meridian's statements of carbon neutrality were not misleading.[28]

Electric Vehicles and Charging Programme

In 2015 Meridian began converting its business fleet to electric vehicles in an effort to reduce carbon emissions.[29] In early 2019 Meridian joined the EV100 initiative, it has committed to its light passenger vehicle business fleet becoming 100% electric by 2030.[30] In August 2019 the company won the Deloitte Energy Award for a Low Carbon Initiative for its work on electric business fleet conversion.[31]

Kākāpō Recovery Programme

Meridian Energy are National Partners of the Department 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.[32] Meridian staff are also involved through providing electrical support and volunteers to the remote pest-free islands the kākāpō are surviving on.

Project River Recovery

In 1990 Meridian established Project River Recovery,[33] recognising the impacts of hydroelectric development from the 1930s to the 1980s on the Waitaki's braided rivers and wetlands.[34] 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 to Genesis Energy in 2011, the electricity company joined the compensatory funding agreement.[35]

Waiau River Recovery

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).[36] The area covered is from Te Wae Wae Bay in the south to Lake Te Anau in the north. The work focuses on enhancing wetlands, waterways and riparian plantings.

Community

Wellington Wind Sculpture Walkway

Wellington, New Zealand's capital city, is well known for wind and the Meridian Energy Wind Sculpture walkway celebrates this. In 2007 the four sculptures won Best Public Art [37] and the final piece was opened in May 2010.[38] The five sculptures are the 'Zephyrometer' by Phil Price, 'Urban Forest' by Leon van den Eijkel (in collaboration with Allan Brown), 'Akau Tangi' by Phil Dadson, 'Tower of Light' by Andrew Drummond and 'Pacific Grass' by Kon Dimopoulos. The sculptures are managed by the Wellington Sculpture Trust [39]

KidsCan

In 2013 Meridian became the principle partner of the KidsCan Charity.[40] 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.[41]

Power Up Community Fund

Meridian supports communities near its generation assets through the Power Up fund.[42] This includes promoting conservation, community and educational efforts in seven communities around New Zealand.

Subsidiaries

See also

References

  1. ^ "Meridian Energy Limited (938552) – Companies Office". Ministry of Business, Innovation and Employment. Retrieved 7 September 2014.
  2. ^ a b c d e f "2017 Annual Report". Meridian Energy. 24 August 2017. Retrieved 24 August 2017.
  3. ^ "Energy in New Zealand". MBIE. August 2015. ISSN 2324-5913. Archived from the original on 15 February 2016. Retrieved 14 March 2016.
  4. ^ "Market share snapshot". Electricity Authority (New Zealand). Retrieved 20 January 2016.
  5. ^ "Ruling shows the cost of state owned energy giant deliberately busting its dams". The Spinoff. 30 June 2020. Retrieved 30 June 2020.
  6. ^ Meridian to be listed in October. 3 News NZ. 16 September 2013.
  7. ^ "Decision W031/2007" (PDF). Environment Court. 14 May 2007. Archived from the original (PDF) on 22 May 2010. Retrieved 20 August 2009.
  8. ^ "White Hill wind farm". Meridian Energy. Archived from the original on 14 October 2008.
  9. ^ "West Wind Powers Wellington". NZ Wind Energy Association. 29 April 2009.
  10. ^ "Genesis Energy set to acquire Meridian Energy hydro plants". Power-Gen Worldwide. PennWell Corporation. 16 May 2011. Retrieved 4 June 2011.[permanent dead link]
  11. ^ Govt sure Kiwis will reach Meridian goal. 3 News NZ. 30 September 2013.
  12. ^ "Mill Creek switches on to Wellington wind" (Press release). Meridian Energy. 14 May 2014. Archived from the original on 19 May 2014.
  13. ^ "Meridian to buy Australian windfarm". 11 May 2010.
  14. ^ "Mt Mercer 131MW wind farm switched on in Victoria", in RenewEconomy, 11 September 2014
  15. ^ "Our Projects". Meridian Energy.
  16. ^ Voorend, Blair (7 August 2019). "Hawke's Bay wind farm closer to construction after 14-year wait". ISSN 1170-0777. Retrieved 20 December 2019.
  17. ^ Crombie, Nathan (26 January 2012). "Consent bid for Eketahuna wind farm". Wairarapa Times-Age. Archived from the original on 12 September 2012. Retrieved 26 January 2012.
  18. ^ "Wind farm planned for North Canterbury". Radio New Zealand. 4 April 2010.
  19. ^ Bruce, David (16 June 2011). "Pukaki hydro scheme gains resource consent". Otago Daily Times.
  20. ^ Rutherford, Hamish (24 February 2013). "Meridian's $70m for hydro schemes heads down drain". Fairfax NZ News.
  21. ^ Edens, John (19 January 2012). "Meridian quits $2 billion wind project". Fairfax NZ News.
  22. ^ Wood, Alan (22 May 2012). "Meridian pulls plug on Mokihinui project". Fairfax Media (via Stuff.co.nz). Retrieved 22 May 2012.
  23. ^ Katterns, Tanya (15 May 2010). "Martinborough wind farm put on hold". Dominion Post. Retrieved 20 October 2010.
  24. ^ Anne Beston (21 September 2006). "Prizes to switch electricity firms". The New Zealand Herald. The New Zealand Herald. Retrieved 4 February 2011.
  25. ^ "Meridian has certified carbon neutral electricity" (Press release). Meridian Energy. 26 February 2007. Retrieved 14 August 2012.
  26. ^ "New Zealand to be carbon neutral by 2020" (PDF). Ecos 7. April–May 2007. p. 136. Retrieved 26 November 2007.
  27. ^ Newstalk ZB (14 June 2008). "Meridian's carbon neutral claim 'false' – MP". The New Zealand Herald. The New Zealand Herald. Retrieved 4 February 2011.
  28. ^ "Carbon market problems expected to be solved – minister". Radio New Zealand. 26 July 2009. Retrieved 29 September 2012.
  29. ^ Perkins, Matthew (1 December 2018). "Meridian Energy". Smartrak. Retrieved 2 December 2019.
  30. ^ Dobson, Geoff (4 March 2019). "Meridian plugs in to global EV community". EV Talk. Retrieved 2 December 2019.
  31. ^ "Meridian Energy - EV business fleet initiative | Deloitte Energy Excellence Awards". www.energyawards.co.nz. Retrieved 2 December 2019.
  32. ^ Department of Conservation. "Kakapo Recovery Programme". Kākāpō Recovery. Retrieved 26 June 2019.
  33. ^ "Project River Recovery". Meridian Energy.
  34. ^ Department of Conservation (21 October 2019). "Project River Recovery". doc.govt.nz.
  35. ^ "Project River Recovery". www.doc.govt.nz. Retrieved 21 October 2019.
  36. ^ "About Us | Waiau Trust". waiautrust.org.nz. Retrieved 2 December 2019.
  37. ^ "Wind Sculpture Walk. Wellington. New Zealand. - Scenic at Night on Waymarking.com". www.waymarking.com. Retrieved 2 December 2019.
  38. ^ Friday; May 2010, 7; Energy, 9:26 am Press Release: Meridian. "Final Meridian wind sculpture unveiled | Scoop News". www.scoop.co.nz. Retrieved 2 December 2019.CS1 maint: numeric names: authors list (link)
  39. ^ "Wellington Sculpture Trust | Walks". www.sculpture.org.nz. Retrieved 2 December 2019.
  40. ^ Thursday; April 2018, 19; KidsCan, 11:53 am Press Release. "KidsCan and Meridian team up for another three years | Scoop News". www.scoop.co.nz. Retrieved 1 July 2019.CS1 maint: numeric names: authors list (link)
  41. ^ "KidsCan and Meridian team up for 3 more years to help change kids' lives | KidsCan". www.kidscan.org.nz. Retrieved 2 December 2019.
  42. ^ "Meridian Power Up Fund gives Sports and Recreation a boost in the Waitaki". www.voxy.co.nz. Retrieved 1 July 2019.
  43. ^ "Powershop splits in two, international growth on the cards". Stuff. Retrieved 20 June 2019.