Meridian Energy sees lower electricity demand in May

Company News

by Rachael Jones

New Zealand's Meridian Energy (ASX:MEZ) have released their monthly operating report for the month of May 2019 showing that June saw national hydro storage increased from 107 per cent to 122 per cent of historical average.

South Island storage sat at 129 per cent of average and North Island storage at 78 per cent of average on 13 June 2019.

Rainfall was well above average in the South Island and below average for much of the North Island.

National electricity demand in May 2019 was 2 per cent lower than the same month last year.

May 2019 was the third warmest May on record.

Shares in Meridian Energy (ASX:MEZ) are trading 0.24 per cent higher at $4.23.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.