Meridian Releases June 2020 Operating Report, Reports Strong NZ Retail Sales

  • Jul 22, 2020 NZST
  • Team Kalkine
Meridian Releases June 2020 Operating Report, Reports Strong NZ Retail Sales

Electricity generator and retailer, Meridian Energy Limited (NZX:MEL) has recently released its monthly operating report for June 2020. The report highlighted that the Company’s NZ retail sales volumes in June 2020 were 15.6 per cent higher relative to June 2019.

In comparison to June 2019, the Company observed increased segment sales in all segments, including small medium business (4.3 per cent↑), residential (6.0 per cent↑), large business (18.8 per cent ↑), agricultural (19.4 per cent↑) and corporate (26.3 per cent↑).

Below are the other key highlights of Company’s June 2020 operating report:

  • Monthly total inflows were 78 per cent of historical average.
  • Storage in Meridian’s Waitaki catchment was 73 per cent of historical average at June 2020 end.
  • National electricity demand was 1.1 per cent lower than June 2019.

At the time of writing, MEL is trading at NZD 4.765 on 22nd July 2020.

 


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