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Meridian Energy (NZX: MEL) has notified New Zealand Aluminium Smelters (NZAS) of a reduction in their electricity supply under the 2023-2024 Demand Response Agreement. Starting 22 June 2024, NZAS’s power allocation will be cut by 25 MWh every half hour until 20 August 2024, unless further advised. This measure aims to manage South Island hydro storage levels. The agreement details are accessible on Meridian’s website.
This decision reflects a collaborative effort to address low hydrology and grid instability in New Zealand. The demand response exercise allows Meridian to request reduced consumption from NZAS, with adjustments detailed in specific notices. Payments and premiums are structured around the actual reduction in power usage during designated periods. The agreement is effective until 31 December 2024, subject to termination conditions related to regulatory changes or termination of the primary electricity agreement.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is based in Australia. The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
