Meridian Energy Limited (ASX: MEZ), a company incorporated in New Zealand, has released its monthly operating report for November 2025. Meridian Energy generates electricity from 100% renewable sources. The report indicates significant increases in hydro storage and retail sales volumes compared to the previous year. National hydro storage increased from 143% to 153% of the historical average in the month leading up to December 8, 2025. South Island storage reached 157% of average, while North Island storage increased to 132% of average.
Key highlights from the report include total inflows for November 2025 reaching 149% of the historical average. To date, this financial year’s total inflows are 150% of the historical average, marking the highest financial year-to-date inflows since 1988/89. Additionally, Waiau catchment inflows were 158% of the historical average for November. Meridian’s Waitaki catchment water storage at the end of November was 172% of the historical average, with snow storage in early December at 110% of average.
National electricity demand in November 2025 was 5.9% higher than in November 2024. The New Zealand Aluminium Smelters Ltd (NZAS) average load during November 2025 was 569MW, compared to 451MW a year prior. Meridian’s retail sales volumes in November 2025 were 12.1% higher than in November 2024. Segment sales saw increases across residential (23.2% higher, including Flick customers), small-medium business (10.2% higher), large business (8.5% higher), agriculture (18.4% higher), and corporate (6.0% higher).
The report also noted that November 2025 was the warmest November on record, with above-average temperatures across most of the country. Rainfall was above average for much of the North Island and the west of the South Island, while eastern parts of the South Island experienced comparatively drier conditions. Meridian provides weekly lake storage updates on its website.
