While recent days have resolved any issues of hydro shortage, Meridian Energy Ltd (NZX: MEL; ASX: MEZ) and other energy companies had lowering dam levels in May.
Meridian’s May report said that in May and to June 13 national hydro storage had decreased marginally to 120% of historical average.
Meridian’s May monthly total inflows were 105% of historical average. The Waitaki catchment storage at the end of May was 129% of historical average while storage at Meridian’s Waiau catchment was well above average at month end.
National electricity demand in May was 0.4% lower than the same month last year and included a major planned maintenance shutdown at the Marsden Point oil refinery.
Meridian said May was a contrast of relatively warm, dry weather in the first half of the month, followed by colder, unsettled conditions.
The company’s retail sales volumes for the month increased by 0.9% compared to May 2017.