confirms that the Covid 19-related suspension of the Potline 4 contract between Meridian and NZAS will remain in place till 31 August 2021.
Before that date, the Smelter owners NZAS can start operation of Potline 4 at any time and can restore the full contract quantity of 50MW on 5 days’ notice.
The Potline 4 contract is a separate contract to the main electricity agreement between Meridian and NZAS.
It was signed in May 2018 and runs until December 2022. In April 2020, NZAS exercised its right to reduce quantity under the Potline 4 contract to zero.
Shares in Meridian (ASX:MEZ)
are trading 0.9 per cent lower at $4.48.