Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  New Zealand Stock Exchange  >  Meridian Energy Limited    MEL   NZMELE0002S7

MERIDIAN ENERGY LIMITED

(MEL)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

New Zealand Power Grid Upgrade to Be Accelerated

share with twitter share with LinkedIn share with facebook
08/06/2020 | 12:02am EDT

By Stephen Wright

WELLINGTON, New Zealand--The operator of New Zealand's electricity grid said an upgrade of the South Island networks could be completed by May 2022, allowing surplus power to be moved north.

State-owned Transpower New Zealand Ltd. had previously delayed completion of the work by a year until mid-2023. It is now accelerating the upgrade after a South Island aluminum smelter, which consumes about 13% of New Zealand's electricity, said it would cease operating in the second half of next year.

The feasibility of further speeding up the network upgrade will be assessed as work progresses, Transpower said Thursday. That could lead to a "slightly earlier" completion date, it said.

News last month that the smelter, which is supplied by Meridian Energy Ltd., would close sent a shockwave through New Zealand's electricity industry.

Analysts said the surplus electricity could speed up electrification of transport and industrial processes. It may also force power generators such as Contact Energy Ltd. and Genesis Energy Ltd. to shelve plans for new generating capacity.

 

Write to Stephen Wright at stephen.wright@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
CONTACT ENERGY LIMITED -0.94% 7.38 End-of-day quote.3.51%
GENESIS ENERGY LIMITED -0.96% 3.1 End-of-day quote.2.48%
MERIDIAN ENERGY LIMITED 0.19% 5.3 End-of-day quote.6.00%
share with twitter share with LinkedIn share with facebook
All news about MERIDIAN ENERGY LIMITED
10/23Australia shares slip on U.S. stimulus uncertainty, weak manufacturing data
RE
10/19Australia shares end at over 7-mth high as restrictions ease in Victoria
RE
10/18Australian shares rise as coronavirus curbs ease in Victoria; NZ flat
RE
10/16Australia shares finish lower as mining, energy stocks fall
RE
10/15Miners drag Australian shares lower; NZ falls before election results
RE
09/28Australia shares end lower on financials and consumers; NZ recovers
RE
09/28Rio Tinto smelter in focus as New Zealand's PM seeks extension
RE
09/27Rio Tinto smelter in focus as New Zealand's PM seeks extension
RE
09/27New Zealand PM Seeks 3-5 Year Delay in Smelter Closure
DJ
09/01Australia shares rise most in three weeks as data spurs economic recovery hop..
RE
More news
Financials
Sales 2021 3 273 M 2 164 M 2 164 M
Net income 2021 244 M 161 M 161 M
Net Debt 2021 1 536 M 1 016 M 1 016 M
P/E ratio 2021 55,1x
Yield 2021 3,20%
Capitalization 13 578 M 8 996 M 8 978 M
EV / Sales 2021 4,62x
EV / Sales 2022 5,27x
Nbr of Employees 1 031
Free-Float 48,9%
Chart MERIDIAN ENERGY LIMITED
Duration : Period :
Meridian Energy Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MERIDIAN ENERGY LIMITED
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 6
Average target price 4,62 NZD
Last Close Price 5,30 NZD
Spread / Highest target 2,64%
Spread / Average Target -12,8%
Spread / Lowest Target -30,2%
EPS Revisions
Managers
NameTitle
Neal Anthony Barclay Chief Executive Officer
Mark John Verbiest Chairman
Michael John Roan Chief Financial Officer
Peter David Wilson Deputy Chairman
Anake Angus Murray Goodall Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
MERIDIAN ENERGY LIMITED6.00%8 996
NEXTERA ENERGY20.93%144 991
ENEL S.P.A.-3.37%80 943
IBERDROLA, S.A.10.29%72 293
DOMINION ENERGY, INC.-2.99%67 937
DUKE ENERGY CORPORATION0.99%67 836