MERIDIAN CLAIMS POWER TOO CHEAP

http://www.stuff.co.nz/southland-times/business/national-business/4057799/Meridian-says-power-price-too-low

Cartoon courtesy Tom Scott.

Meridian Energy has boosted profits by 29% over the last financial year.
They returned a profit of $250+ million.
This profit was achieved despite a price freeze (still in place.)
The CEO declared an “outstanding performance”- before tax earnings of $641+ million.
Despite all this he also declared prices were not high enough (“to meet long-term energy costs”).

Pardon me?

Oh! And the final dividend to the Government was $68+ million after and interim dividend of $89+ million so they aren’t likely to argue on the consumers’ behalf are they?

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One thought on “MERIDIAN CLAIMS POWER TOO CHEAP

  1. Hi there, a very good read and it sometimes just takes someone to post something like this to make me realise where I’ve been going wrong! Just added the site to my bookmarks so will check back now and then. Cheers.

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