Meridian Secures Additional Power Demand Response from NZAS
- Meridian and NZAS agree to an additional 20MW per hour of demand response.
- Total demand response from NZAS will reach 205MW from 23 August to 10 September.
- The agreement aims to ease high spot prices and support electricity supply in New Zealand.
Meridian Energy Limited and New Zealand Aluminium Smelters Limited (NZAS) have reached a new agreement that will see NZAS provide an additional 20MW per hour of demand response. This move is in addition to the previous demand response option exercised by Meridian on 21 July 2024. The agreement means that NZAS will now deliver up to 205MW of demand response to New Zealand from 20 August to 24 September 2024, with the full amount available from 23 August to 10 September.
During this period, the contract quantity under the Core Agreement between Meridian and NZAS will be reduced by 138.75MW, as outlined in the previous agreement, and will be further reduced by up to 20MW.
NZAS has also surpassed expectations by reducing its consumption under the existing agreement, achieving a total reduction of 185MW by 9 August 2024.
“New Zealand is currently in a period of high spot prices and tight electricity supply. Being able to call on our ground-breaking demand response agreement has already provided important relief, and NZAS has once again stepped up to sign an agreement that will provide further security of supply. We are hugely appreciative of their willingness to act in the interests of all New Zealanders,” said Meridian Chief Executive Neal Barclay.