Hydro good, says Meridian Energy

National hydro storage increased from 115% to 139% of historical average in the month to November 11, 2024, says Meridian Energy in its latest monthly report.

South Island storage increased to 145% of average and North Island storage increased to 116% of average by then, it says, the increases expected to boost EV charging.

Meridian’s October 2024 monthly total inflows were 128% of historical average, with its Waiau catchment inflows 122% of historical average and Waitaki catchment water storage 129% of historical average, snow storage in Meridian’s Waitaki catchment was 109% of average, and water storage in Meridian’s Waiau catchment was 130% of average at the end of October 2024.

October 2024 was a mild month overall, with temperatures above normal or near normal for both islands, says Meridian in its monthly operating report, also saying rainfall was above normal for much of the South Island.

National electricity demand in October 2024 was -4.4% lower than the same month last year, says Meridian.

New Zealand Aluminium Smelter’s (NZAS) average load during October 2024 was 417MW.

Meridian’s retail sales volumes in October 2024 were -0.6% lower than October 2023.

“Compared to October 2023, segment sales increased in large business +20.5%, with decreases in residential -0.5%, small medium business -0.4%, agricultural -3.5% and corporate -3.0%.”