New Zealand's Meridian gains reserve-water access, says power price rises to ease
Meridian Energy, one of New Zealand's largest electricity generators, has been granted approval to access reserve water in its hydro lakes. The company said the recent rises in power prices should end soon as supply pressures ease.
Meridian Energy, one of New Zealand's leading electricity generators, has received the approval it needs to access reserve water in the lakes that feed its hydro plants. The move is intended to ease supply pressure caused by low water levels.
According to RNZ, the company said the recent rises in electricity prices should end soon. Because New Zealand relies heavily on hydro for power generation, lake levels can directly affect prices.
Officials stressed that using reserve water is aimed at supporting supply security in the short term. Analysts said longer-term solutions depend on storage capacity and renewable investment. Consumers and industry are watching price developments closely.
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