Meridian Studying Implications Of Transfer

Media release for immediate use

Meridian Studying Implications Of Hydro Station Transfer

Power company Meridian says it is studying the decision from the Ministerial Review into the Electricity Market to transfer ownership of two of its South Island hydro stations to its sister SOE Genesis.

Energy Minister Gerry Brownlee today announced that the Tekapo A and Tekapo B hydro stations – the first two of the eight-station chain operated by Meridian on the Waitaki - will transfer to Genesis.

Meridian chief executive Tim Lusk says the transfer is among a large number of recommendations to come from the review and the company will study them all in detail and take the time necessary to fully understand their implications.

“At the end of the day the Government is our owner and it is our role to work with the decisions it makes. That is what we will do.”

Mr Lusk says as it always does, Meridian will look for the opportunities which may arise from the new arrangements.

ENDS

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