Meridian Energy
 |
|
| Public company | |
| Traded as |
NZX: MEL ASX: MEZ |
| Industry |
Electricity generation Electricity retailing |
| Predecessor | Electricity Corporation of New Zealand |
| Founded | 16 December 1998 |
| Headquarters | Wellington, New Zealand |
|
Key people
|
Mark Binns, Chief Executive |
| Revenue |
 NZ$2,375 million (2016) |
 NZ$650 million (2016) |
|
| Profit |
NZ$185 million (2016) |
| Total assets |
NZ$8,538 million (2016) |
| Total equity |
NZ$5,050 million (2016) |
| Owner | New Zealand Government (51.02%, 2016) |
|
Number of employees
|
866 (2016) |
| Subsidiaries | Powershop |
| Website | meridianenergy |
Meridian Energy Limited is a New Zealand electricity generator and retailer. The company generates the largest proportion of New Zealand's electricity, generating 35 percent of the country's electricity in the year ending December 2014, and is the fourth largest retailer, with 14 percent of market share in terms of customers as of December 2015.
Meridian was one of three electricity companies formed from the break-up of the Electricity Corporation of New Zealand (ECNZ) in 1998–99, taking over the Waitaki River and the Manapouri hydro schemes. Originally a state-owned enterprise wholly owned by the New Zealand Government, the company was partially privatised in October 2013 by the Fifth National Government, with the government retaining a 51.02% shareholding.
Today, Meridian operates seven hydroelectric power stations and one wind farm in the South Island of New Zealand, four wind farms in the North Island, and two wind farms in southern Australia – one in South Australia and one in Victoria. It is one of three major electricity generators to only generate electricity from renewable sources (the others being Trustpower and Mercury Energy), and the only electricity generator in New Zealand to commit itself to only generate electricity from renewable sources.
Meridian originated from the break-up of the Electricity Corporation of New Zealand (ECNZ) in 1999 as a result of the reforms of the New Zealand Electricity Market. Meridian's share of ECNZ was corporatised as a state-owned enterprise with its own board of directors and with two Ministerial shareholders: the Minister of Finance and the Minister of State-Owned Enterprises. In 2013 it was partially privatised by the fifth National Government of New Zealand.
...
Wikipedia