Meridian Energy and NZAS Contracts Update

Meridian Energy Limited (ASX: $MEZ) and New Zealand's Aluminium Smelter (NZAS) have signed conditional 20-year contracts for the Tiwai Point smelter's future electricity needs. The Electricity Authority has provided clearance under the Electricity Industry Participation Code 2010 for these contracts, with other conditions precedent still outstanding. Meridian will make further announcements as these conditions are met.

Executive Commentary

The signing of these conditional 20-year contracts with NZAS marks a significant step in securing the future electricity needs of the Tiwai Point smelter. We are pleased to have received clearance from the Electricity Authority, and we will continue to work towards meeting the remaining conditions precedent. These contracts demonstrate our commitment to providing sustainable and reliable electricity supply to NZAS, supporting the ongoing operations of the smelter.

Summary and Outlook

Meridian Energy (ASX: $MEZ) has successfully obtained clearance from the Electricity Authority for the conditional 20-year contracts with NZAS, addressing the future electricity needs of the Tiwai Point smelter. While some conditions precedent are still outstanding, the company remains optimistic about meeting these requirements. The contracts, once in effect, will secure a long-term partnership, underlining Meridian's dedication to providing sustainable and reliable electricity supply. This development aligns with the company's strategic goal of supporting key industrial customers and ensuring the stability of New Zealand's energy infrastructure.