nzx mel asx mez industry electricity generation electricity retailing predecessor electricity corporation of new zealand founded 16 december 1998 16 december 1998 1 headquarters wellington new zealand key people mark binns chief executive revenue nz 2 375 million 2016 2 operating income nz 650 million 2016 2 profit nz 185 million 2016 2 total assets nz 8 538 million 2016 2 total equity nz 5 050 million 2016 2 owner new zealand government 51.02 % 2016 number of employees 866 2016 2 subsidiaries powershop website www.meridianenergy.co.nz 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 . 3 4 meridian was one of three electricity companies formed from the breakup 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 . contents 1 history 2 power stations 2.1 proposed 2.2 cancelled 3 carbon footprint 4 subsidiaries 5 see also 6 references 7 external links history edit meridian originated from the breakup 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 . 5 as part of reforms local electricity companies were split into lines and retail and the retail portion sold off . meridian initially acquired the retail base of northpower centralines scanpower and network waitaki and later acquired orion s retail base from ngc . 2001 meridian purchased five mini hydro power stations in australia . these stations linked with dams used primarily for irrigation and have a total generating capacity of 62 mw . september 2001 meridian purchased the south island customer base of natural gas corporation ngc at the time new zealand s largest electricity retailer . the purchase came towards the end of an exceptionally dry autumn . low hydro levels had driven the wholesale market spot prices to very high levels . ngc had purchased the customer base when canada s transalta quit new zealand . ngc re branded itself as onenergy to escape the poor reputation of the transalta brand . onenergy found itself with insufficient generation capacity to stand the high winter market prices and had made the critical mistake of not purchasing any hedge contracts . it attempted to raise its retail prices but its customers then flocked to other retailers . finally after suffering huge losses ngc had perforce to quit the retail sector selling its customer base to two of the government s companies meridian and genesis energy . at that point the new zealand electricity market became further vertically integrated and many have come to believe that this adversely affected competition in the retail electricity market . april 2003 meridian extended its operations in australia with the purchase of southern hydro increasing its australian generating capacity by 540 mw . southern hemisphere winter 2003 low hydro inflows and storage levels again resulted in exceptional wholesale market spot prices . as a consequence the retailers trustpower and freshstart abandoned market areas where they had no generation . this strengthened meridian s dominance of the south island customer base . 29 march 2004 meridian cancelled project aqua a controversial 524 mw power scheme for six dams and a man made canal on the lower waitaki river in north otago . the scheme allegedly represented the last opportunity for large scale hydroelectric development of this magnitude in new zealand . abandoning the venture cost meridian nz 38.7 million . meridian stopped the scheme because of uncertainty over rights to use the water growing costs and the difficulties and uncertainties with obtaining consents under the resource management act legislation . in july 2004 meridian announced an independent audit of the abandoned scheme . 9 december 2004 then prime minister helen clark officially opened the te apiti wind farm meridian s first wind farm . 2 june 2005 meridian announced a proposal to develop a wind farm west of wellington project west wind with up to 70 wind turbines with a total capacity of 210 mw built across 55.8 square km on rural land near makara at the south western tip of the north island . a local pressure group the makara guardians opposed the scheme . successful application for resource consent for the project was announced on 21 december 2005 . the consent was subsequently appealed and upheld in may 2007 . 6 30 november 2005 meridian completed the sale of its australian operation southern hydro for a 1.42 billion nz 1.52 billion to australian gas light company . meridian had steadily expanded and upgraded its assets in australia since purchase including commissioning a 91 mw wind farm . the sale commanded a hefty premium driven by new demand for renewable energy generation because of mandatory australian requirements that electricity retailers sell a proportion of renewable energy . 8 june 2007 the white hill wind farm is officially opened . 7 29 april 2009 prime minister john key officially turns on the first 15 turbines on the west wind wind farm . 8 1 june 2011 the sale of meridian energy s tekapo a and tekapo b hydroelectric power stations to genesis energy took effect . the sale was part of a package of government reforms aimed at improving the electricity sector . 9 30 september 2013 49 percent of shares in the company officially offered for sale at between 1.50 and 1.80 10 power stations edit hydro wind manapouri benmore aviemore ohau a ohau b ohau c waitaki te apiti te uku west wind white hill location of power stations owned and operated by meridian energy in new zealand . meridian energy owns and operates seven hydroelectric power stations in the south island six on the waitaki river and at manapouri . it also owns and operates seven wind farms in new zealand and australia and a single turbine in brooklyn wellington . in total meridian has a total installed capacity of 2 754 mw in new zealand and 201 mw overseas . name type location no . turbines capacity mw annual generation average gwh commissioned notes new zealand stations aviemore hydroelectric waitaki river 4 220 942 1968 benmore hydroelectric waitaki river 6 540 2215 1965 manapouri hydroelectric lake manapouri fiordland national park 7 800 4800 1971 mill creek wind ohariu valley nw of wellington 26 60 2014 11 ohau a hydroelectric waitaki river 4 264 1140 1979 ohau b hydroelectric waitaki river 4 212 958 1984 ohau c hydroelectric waitaki river 4 212 958 1985 te piti wind ruahine ranges 55 91 320 2004 te uku wind near raglan waikato 28 64.4 2011 waitaki hydroelectric waitaki river 6 90 496 1934 wellington wind turbine wind brooklyn wellington 1 0.23 1 1993 west wind wind makara west of wellington 62 143 600 2009 white hill wind near mossburn southland 29 58 230 2007 australian stations mt millar 12 wind southwest of whyalla south australia 35 70 2004 mt mercer wind near ballarat victoria 64 131 2014 13 proposed edit projects being developed by meridian energy include the following . 14 meridian energy development projects name type capacity location status project gumfields wind near ahipara northland rototuna wind 500 mw northland west coast mohaka hydro 44 mw mohaka river south of wairoa project central wind wind 130 mw between waiouru and taihape north island consents granted upheld by env court windy peak 15 wind 8 km se of martinborough consultation 15 mt munro wind 60 mw near eketahuna applied for consents 16 hurunui 17 wind 80 mw greta valley north canterbury pukaki hydro 35 mw on the pukaki river consents granted 18 hunter downs irrigation waitaki river south canterbury manapouri amended discharge project hydro consents granted cancelled edit name type capacity location status project aqua hydro 520 mw south canterbury cancelled march 2004 north bank tunnel hydro 280 mw on the waitaki river cancelled january 2013 19 project hayes wind 630 mw central otago cancelled january 2012 20 mokihinui hydro hydro 60 mw north of westport cancelled may 2012 21 carbon footprint edit in 2006 greenpeace judged meridian as the only green electricity company in new zealand . 22 in 2007 meridian announced that it had received carbonzero certification from landcare research confirming that the generation and retailing of its electricity was carbon neutral . 23 24 in june 2008 national s climate change spokesman nick smith complained to the commerce commission that meridian s claim of carbon neutrality in its advertising was misleading as smith considered that meridian has to buy thermally generated power during dry years to supply its customers . a spokesman for meridian said they stood by the validity of the certification of their carbon neutral status . 25 in july 2009 the commerce commission concluded that meridian s statements of carbon neutrality were not misleading . 26 subsidiaries edit damwatch services limited consultancy specialising in dam engineering safety and surveillance . powershop an electricity retail broker see also edit electricity sector in new zealand new zealand electricity market project crimson a conservation programme sponsored by meridian energy kidscan a charity sponsored by meridian energy references edit meridian energy limited 938552 companies office . ministry of business innovation and employment . retrieved 7 september 2014 . a b c d e f 2016 annual report . meridian energy . 19 august 2016 . retrieved 19 august 2015 . energy in new zealand . mbie . aug 2015 . issn 2324 5913 . market share snapshot . electricity authority new zealand . retrieved 20 january 2016 . meridian to be listed in october . 3 news nz . 16 september 2013 . decision w031 2007 pdf . environment court . 14 may 2007 . white hill wind farm . meridian energy . west wind powers wellington . nz wind energy association . 29 april 2009 . genesis energy set to acquire meridian energy hydro plants . power gen worldwide . pennwell corporation . 2011 05 16 . retrieved 2011 06 04 . govt sure kiwis will reach meridian goal . 3 news nz . 30 september 2013 . mill creek switches on to wellington wind press release . meridian energy . 14 may 2014 . meridian to buy australian windfarm . 11 may 2010 . mt mercer 131mw wind farm switched on in victoria in reneweconomy 11 september 2014 our projects . meridian energy . a b katterns tanya 15 may 2010 . martinborough wind farm put on hold . dominion post . retrieved 2010 10 20 . crombie nathan 26 january 2012 . consent bid for eketahuna wind farm . wairarapa times age . wind farm planned for north canterbury . radio new zealand . 4 april 2010 . bruce david 16 june 2011 . pukaki hydro scheme gains resource consent .