New Zealand: Meridian says LNG imports unneeded for dry-year cover
RNZ Business reports that New Zealand's largest renewable electricity generator Meridian Energy says imports of liquefied natural gas (LNG) being considered by the government are not needed for dry-year cover.
RNZ Business · Corin DannRNZ Business reports that Meridian Energy, New Zealand's largest renewable electricity generator, has said that the government's proposed imports of liquefied natural gas (LNG) — being considered as a way to generate power when hydro levels are low and renewables cannot meet demand — are not needed as dry-year cover. The company argued that geothermal capacity expansion, battery storage investments and flexible dispatch of wind farms can meet dry-year demand.
Climate Change Minister Simon Watts had said the government is reviewing energy supply security for the New Zealand economy 'at engineering level'. Opposition Labour Party energy spokesperson Megan Woods said LNG imports would amount to 'rolling back climate targets'. The New Zealand Wind Energy Association (NZWEA) is expected to publish its detailed position in coming weeks.
For investors, Meridian's FY26/27 investment plan, the NZ dollar and electricity-price impacts will be tracked closely. The company's Saturday statement establishes a reference valuation point for NZX-listed renewables. This commentary is not investment advice.
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