Meridian Energy : Integrated Annual Report

Changing Step.

Together.

Meridian Energy Limited. Integrated Report 2022.

We've made good progress.

But frankly, the pace must quicken, actions must intensify and we need to make more of the partnerships we have in place to make decarbonisation happen.

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02Introduction - Changing Step. Together.

10	Stepping forward
12	Influencing the future
14	What drives us
16	Key changes this year

18Chief Executive and Chair report

20	There's a powerful future ahead

28Our natural impacts

1. Changing conditions apply
2. A hot, dry Southland summer

31Keeping a close eye on water

1. Managing biodiversity
2. No compliance breaches
3. Energetically pursuing emission reductions

1. Planting out a better future
2. Disclosing openly

1. Supporting kākāpō through sponsorship
2. Adding to public policy discussions

44Our technology impacts

1. Enabling a new energy future
2. Demand for Flux continues to increase

1. All on the same platform (nearly)
2. Challenges for our Generation teams

1. Transforming our thinking
2. Exciting options emerge

51	Harapaki wind farm progressing well

1. A good year for developments
2. Decarbonising Aotearoa

54	Upgrading Scada
54	Cyber defence in depth

58Our human impacts

1. Doing right by people
2. Energised by great people

1. The future of work
2. Welcoming new perspectives
3. Taking care of our people's safety and wellbeing

67	Belonging is crucial
67	Taking a position on gender injustice
70	Being good humans

1. Relationships in the community
2. Partnerships can change the world
3. Encouraging energy wellbeing

80Our commercial impacts

1. Real momentum for action
2. Extremes: from one half to the other

1. Wholesale markets reflect long-term concerns
2. Exiting Australia

84	Dividend for this year
84	Retail pricing under pressure

1. Our retail brands made substantial gains
2. Nature makes her presence felt

87	Better futures
92	Our remuneration
94	Our approach to remunerating our people
102	Preparing this report
114	Directors' statement
122	Further disclosures
140	Our financial performance

142Group financial statements

191Independent auditor's report

195Independent accountant's assurance report

1. GRI standards content index

1. Directory

MERIDIAN INTEGRATED REPORT 2022

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COVER: Planting the next phase of coastal forest on the Kaitoke Peninsula with Raglan Area School.

MERIDIAN INTEGRATED REPORT 2022

MENU CHANGING STEP. TOGETHER.

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This will

change...

2 Planting of native trees as part of our Forever Forests programme, West Wind farm, Mākara, Te Whanganui-a-Tara Wellington.

if we take the right steps.

Our commitment to climate change progress includes what we are doing for ourselves and what we are doing with others.

MERIDIAN INTEGRATED REPORT 2022

MENU CHANGING STEP. TOGETHER.

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