An unprecedented year of low hydro flows and increased energy-related costs dragged Meridian Energy's operating profit down 28%, despite a lift in the company's total revenue.
The growing popularity of homeowners generating electricity from the sun via photovoltaic panels has led Meridian Energy to consider cutting the rate it pays for home-generated electricity.
Meridian has pulled the plug on its proposed Mokihinui hydro project on the West Coast of the South Island.
The price of shares in the partially-listed state owned enterprises will be pushed up significantly as institutional investors, particularly superannuation funds, compete to meet demand.
Restoration, by the Duntroon community, of a wetland as a visitor attraction has received a boost with support from Meridian Energy Ltd which owns it.
Energy company Meridian is withdrawing its Environment Court appeal for resource consents for Project Hayes, the wind farm proposed for the Lammermoor Range in Central Otago.
The Central Otago District Council has opted to split its energy supply contracts between two different suppliers in a move which is expected to produce a saving of $37,000 a year.
Claimed delays over a further Environment Court hearing involving the proposed Project Hayes wind farm on the Lammermoor Range in Central Otago were highlighted at an Otago Regional Council meeting on Wednesday.
About 60 pits will start to appear this week across the Waimate landscape as part of an investigation into a $200 million, 40,000ha irrigation scheme which could create up to 1200 jobs in the district.
The Government will receive a $521 million special dividend from Meridian Energy thanks to Genesis Energy borrowing money from its bankers to help pay for Meridian's Tekapo assets.
State-owned Meridian Energy is to pay a special dividend of nearly $521 million to the Government from the sale of South Island hydro stations Tekapo A and B to Genesis Energy.
A change in ownership of the two Tekapo power stations on the Waitaki hydro-electricity generation system is still expected to take place in the first six months of this year, Genesis Energy and Meridian Energy having completed major agreements for the sale to take place.
Meridian Energy is expecting wholesale spot electricity prices to stay low in the short term as national hydro storage levels continue to track above average levels.
A final decision clearing the way for Meridian Energy to use water from the lower Waitaki River for a new power scheme has been issued by the Environment Court in a process that has taken almost four years.
Meridian Energy is proposing building a hydroelectric power station at Lake Pukaki to meet growing South Island demand.
Meridian Energy is going to Waimate to outline and answer questions on the new hydro-electric scheme it is proposing to build on the north bank of the lower Waitaki River.
Project Hayes wind farm opponents Save Central will decide this week whether to pursue the case in the Court of Appeal.
A community group spawned by the abandoned Project Aqua power scheme along the lower Waitaki River has now became a major guardian with an important role to play in the future.
Details of the next round of legal proceedings on the Project Hayes wind farm will be decided at a conference in Dunedin in mid-November.
Geological issues have led to a rethink of a proposed major new power scheme on the lower Waitaki River.