New Zealand's biggest electricity user agrees to reduce demand if system 'under stress'
https://www.stuff.co.nz/business/131700500/new-zealands-biggest-electricity-user-agrees-to-reduce-demand-if-system-under-stress#comments
Quote from: Onemootpoint on Apr 05, 2023, 09:48 PMNew Zealand's biggest electricity user agrees to reduce demand if system 'under stress'
https://www.stuff.co.nz/business/131700500/new-zealands-biggest-electricity-user-agrees-to-reduce-demand-if-system-under-stress#comments
Huge upside to come from the renegotiation of supply contract with NZAS, supply negotiation with data centers and the green hydrogen project with Woodside Petroleum.
One to tuck away on price weakness - looking for 50% upside imo in the next 3 years.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/MEL/410106/392822.pdf
Expenses up, revenue down.
Re. the Datagrid data centre project in Southland:
"Meridian Energy's general manager of generation and natural resources Guy Waipara had said then [2020], "A low-emissions data centre is a huge opportunity for Southland and all of New Zealand to leverage our abundant clean energy to create high-value jobs and diversify our economy even more into the digital space."
However, earlier this year, the electricity supplier voiced concerns stating that its "confidence in that project is diminished" following Remi Galasso's exit from BW Digital."
https://www.stuff.co.nz/southland-times/300951762/cloudy-with-a-bleak-chance-of-connectivity
The dullest stock on the NZX.
MEL_2023-08-22_16-23-38.png
Haha, true.
The odd cyclical opportunity in there if long term investing is not one's thing. :)
"After three years of no charging fees, electric vehicle drivers using Meridian Energy charging stations will now have to pay.'
Meridian to charge 50 cents per kWh at its public EV charging stations
https://www.stuff.co.nz/business/money/132932495/we-dont-see-petrol-stations-giving-away-free-gas-meridian-to-charge-50-cents-per-kwh-at-its-public-ev-charging-stations
Early sign of NZAS preparing to stay in NZ
This time comcom has to approve the electricity deal, so unlikely to be below the cost of production (as is the case now and has been for the past decade)
Unwanted Tiwai work uniforms to be recycled instead of dumped at landfill https://www.stuff.co.nz/nz-news/350227273/unwanted-tiwai-smelter-work-uniforms-be-recycled-instead-dumped-landfill
Quote from: xafalcon on Mar 29, 2024, 11:13 AMEarly sign of NZAS preparing to stay in NZ
This time comcom has to approve the electricity deal, so unlikely to be below the cost of production (as is the case now and has been for the past decade)
Unwanted Tiwai work uniforms to be recycled instead of dumped at landfill https://www.stuff.co.nz/nz-news/350227273/unwanted-tiwai-smelter-work-uniforms-be-recycled-instead-dumped-landfill
Good sign.
https://www.nzherald.co.nz/business/meridian-tiwais-nzas-sign-power-20-year-supply-agreement/EGAQYNR2KVEZJIR367IOWEO55A/
Healthy result.
https://api.nzx.com/public/announcement/436964/attachment/425798/436964-425798.pdf
Meridian Energy has reported operating cash flows of $667 million for the year ending 30 June 2024,
up from $509 million the previous year, with net profit after tax up from $95 million to $429 million.
The growth in net profit after tax was influenced significantly by net gains on hedge instruments of
$249 million in the 2024 financial year. In the prior year the company recorded net losses on hedge
instruments of $351 million.
EBITDAF1 was up 16% to $905 million and underlying net profit2 rose 14% to $359 million. Both of
these are non-GAAP measures.
"This is a strong and improved operating result that allowed us to invest $349 million in new and
existing generation assets during the year," says Chief Executive Neal Barclay.
The Board declared a final ordinary dividend of 14.85 cents per share. This brings the total ordinary
dividends declared in FY24 to 21.00 cents per share. The Board has approved the continuation of the
Dividend Reinvestment Plan at a 2% discount..........