{"id":580322,"date":"2026-08-25T23:42:09","date_gmt":"2026-08-25T23:42:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/580322\/"},"modified":"2026-08-25T23:42:09","modified_gmt":"2026-08-25T23:42:09","slug":"meridian-energy-returns-to-130m-profit-after-drought-hit-loss-promises-to-keep-energy-price-increases-below-inflation-in-coming-year","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/580322\/","title":{"rendered":"Meridian Energy returns to $130m profit after drought-hit loss, promises to keep energy price increases below inflation in coming year"},"content":{"rendered":"
Looking ahead, Meridian\u2019s guidance for the current 2027 financial year was for ebitdaf of between $1.040b and $1.120b, subject to market conditions.<\/p>\n
\u201cThis is a result that strengthens our financial resilience as we continue to build [new power projects] at pace,\u201d chief executive Mike Roan said.<\/p>\n
Of the big four power generators, Meridian Energy fared the worst from the previous financial year\u2019s droughts, which captured the impact of the 2024 price spike.<\/p>\n
Mike Roan, Meridian chief executive.<\/p>\n
Roan said delivering clean, affordable energy and advancing New Zealand\u2019s energy independence was becoming more critical.<\/p>\n
\u201cWe know New Zealanders want to see lower power prices, and that\u2019s more likely as new renewable generation continues to be built across New Zealand,\u201d he said.<\/p>\n
Roan said the market was already seeing positive signs, with wholesale forward prices easing during 2026, enabling the company to reduce prices for commercial and industrial customers as they come up for renewal.<\/p>\n
\u201cWe have committed to ensuring that, for residential and small business customers, the average price increase in the energy component of the bill across all our plans will be held below the rate of inflation over the next year,\u201d he said.<\/p>\n
\u201cCustomers, though, are still facing at least three more years of regulated increases in lines and transmission charges,\u201d he noted.<\/p>\n
Grid operator Transpower and the lines companies are increasing their charges in order to invest more in the distribution system as more projects come on stream and dependence on electricity increases.<\/p>\n
Meridian declared a final dividend of 16.10 cents per share, bringing the total to 22.50c per share \u2013 a 7.1% increase on the previous year.<\/p>\n
Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.<\/p>\n