Meridian says water agreement to ensure water flow

Meridian Energy said a water management agreement with Genesis Energy will ensure water is managed appropriately as the sale of its Tekapo A and B power stations to Genesis proceeds.

The sale is part of an industry restructuring announced by the Government last year which was confirmed today.

Tekapo A and B are the first two of eight hydro power stations in the Waitaki Power Scheme. Meridian will continue to own and operate the remaining six power stations located from Lake Pukaki to Waitaki.

The two state-owned companies will work to a water management agreement that runs to 2025 which allows both of them to use the water flowing through the interconnected lakes and canals to generate electricity. Guidelines cover the management of high or low inflows, and ensure that water will still be available to other users.

NZPA

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