Meridian Energy December 2023 Operating Report

Meridian Energy Limited (ASX: $MEZ) has released its monthly operating report for December 2023. The report highlights a decrease in national hydro storage, an increase in retail sales volumes, and lower Q2 total inflows compared to the previous year.

Executive Commentary on Operating Highlights

The December 2023 operating report reflects the impact of variable rainfall patterns and warm weather on Meridian's hydro storage and inflows. Despite challenges, the company has seen growth in retail sales volumes, particularly in the residential, large business, and agriculture segments. The decrease in Q2 total inflows compared to last year is attributed to the timing of rainfall and hydro generation. We remain focused on managing these factors to ensure continued reliable supply to our customers.

Summary of December 2023 Operating Report and Outlook

The December 2023 operating report indicates the influence of weather patterns on Meridian's hydro storage and generation. The company's ability to maintain higher retail sales volumes amidst these conditions demonstrates its resilience. Looking ahead, Meridian aims to navigate the impact of variable rainfall patterns and maintain a reliable supply to meet the increased national electricity demand. The report also provides insights into Q2 highlights, emphasizing the challenges and opportunities in managing inflows and storage. Meridian's focus on customer growth and operational efficiency remains pivotal in achieving its strategic goals.