Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Meridian Energy Limited ( (MDDNF) ) has issued an update.
Meridian Energy reported a robust March 2026 operating performance, highlighting strong retail sales growth of 11.4% year on year across all major customer segments and a 17.7% annual increase in customer numbers by the end of the third quarter. Hydro storage remained close to historical averages despite softer March inflows, with national storage at 106% of average by mid-April and the Waitaki catchment at 99% of average, supporting higher generation volumes.
The company noted that national electricity demand rose 4.5% in March and 2.4% over the quarter, while New Zealand Aluminium Smelters increased its load versus last year’s demand-response period. Meridian’s Q3 generation was 16.4% higher than a year earlier, but achieved at a 71.2% lower average price amid falling ASX electricity futures, which management sees as evidence that heavy investment in new renewable capacity and enhanced system security are pushing power prices down. Reflecting a more disciplined investment profile, Meridian cut its FY26 capital expenditure guidance to $280 million–$310 million from $330 million–$360 million, even as total capex for the quarter surged year on year due to ongoing projects.
More about Meridian Energy Limited
Meridian Energy Limited is a New Zealand-based electricity generator and retailer focused on renewable energy, primarily hydro generation, with listings on both the NZX and ASX. The company serves residential, business, agricultural and corporate customers nationwide, and supplies large industrial users such as New Zealand Aluminium Smelters, positioning it as a key player in the country’s power market.
For an in-depth examination of MDDNF stock, go to TipRanks’ Overview page.