Meridian receives draft approval on contingent storage

• Meridian receives draft approval for Lake Pūkaki hydro storage access
• Approval allows access to water stored between 518 and 513 metres above sea level
• Meridian proposes to treat half of the five metres of storage as accessible only under heightened risk

Meridian Energy Limited has welcomed the Fast-track Panel's draft decision to ease access restrictions on Lake Pūkaki hydro storage for a three-year period. The company sought approval under the Fast-track Approvals Act to access water stored between 518 and 513 metres above sea level before the risk of electricity shortage rises to 4%. While acknowledging the decision, Meridian respects the concerns raised by commenters during the Fast-track process. To address these concerns and considering the positive hydro storage outlook for Winter 2026, Meridian plans to treat half of the five metres of contingent storage as accessible only when there is a heightened risk to security of supply. The company intends to hold further discussions with key electricity industry stakeholders throughout 2026. Additionally, the draft decision grants Meridian permission to permanently install rock armouring at Pūkaki Dam to enhance its resilience to wave erosion when operating the lake at lower levels. The final decision by the Panel is expected by 3 July 2026.