Meridian Energy 'Welcomes' Three-Year Easing of Lake Pukaki Hydro Storage Access Restrictions

Meridian Energy (ASX:MEZ, NZE:MEL) has "welcomed" the fast-track panel's final decision to temporarily ease access restrictions on Lake Pukaki hydro storage for the next three years, according to Friday filing with the New Zealand bourse. "The easing of access restrictions will reduce dry-year risk and related price impacts through to Winter 2028, providing extra insurance for the system while more new generation capacity is constructed," said Mike Roan, the company's chief executive. The decision also permits the company to permanently install rock armoring at Pukaki Dam, enhancing the dam's resilience to wave erosion when the lake is at lower levels, the filing added.