Meridian Energy Wins Approval To Expand Lake Pukaki Water Storage

WELLINGTON (dpa-AFX) - Meridian Energy Ltd. (MEL.NZ, MDDNF, MEZ.AX), on Friday said it received final approval to temporarily ease restrictions on water storage at Lake Pukaki for three years, through winter 2028.The approval is expected to help reduce the risk of electricity shortages during dry y…

The approval is expected to help reduce the risk of electricity shortages during dry years and limit related price increases while new power generation projects are built.

The company said it will use the additional water storage only if there is a higher risk to the electricity supply during the rest of 2026.

Based on current lake levels, the company said it does not expect to use more than half of the additional five metres of water storage available this year.

The approval also allows the company to permanently install rock protection at Pukaki Dam to help prevent wave erosion when the lake is operated at lower water levels.

Meridian Energy closed trading 2.32% lesser at AUD 4.6300 on the Australian Securities Exchange.