Last month, national hydro storage rose from 79% to 110% of historical average, recovering from low inflows early in the year.
Meridian’s September inflows were 181% of the historical average, lifting Waitaki storage to 91% of average.
Snow storage in the Waitaki catchment, which includes Lake Pūkaki — New Zealand’s largest hydro storage lake — also now sits above average, which bodes well for inflows as summer nears.
Earlier this week, Mercury Energy said it had record hydro generation in July, driven by heavy rain over the Waikato catchment.
"Winter 2025 wasn’t a dry winter in the end, but we have experienced a number of them over the years and we’re happy with how things stand heading into summer and with snowmelt ahead of us," Meridian chief executive Mike Roan said.
"At the same time, we have seen wholesale electricity prices ease in both the spot market and futures curve.
"The electricity system has become very good at managing dry winters, but there are some simple ways we can lift our game to do even better." — Allied Media
