Meridian releases updated Choices discussion doc

Media Advisory
For immediate release: Friday 3 April 2009

Meridian releases updated Choices discussion document

Meridian has released Choices 2009, an updated discussion document on the future of energy generation in New Zealand.

The original Choices report was published in 2006 and provided an objective, detailed analysis of the options and costs for new generation in New Zealand.

The Choices 2009 publication updates some of the key parts of Choices 2006, in the light of major energy sector developments over the past two years. This includes an updated view of the project economics of new generation options for New Zealand.

Choices 2009 also discusses the performance of the wholesale market over its twelve-year history.

Some of the key points from Choices 2009:

• The electricity market has delivered appropriate levels of new generation investment on a competitive least-cost options basis.

• New generation costs have increased across all technology classes between 10-20% since 2006.

• Based on a least-cost options basis and the current gas market outlook Meridian expects that renewables generation in its various forms should be a large portion of future generation investment.

• There is a depth of generation options available to meet demand growth at prices between 7-10c/kWh over coming 20 years.

• Adequate and timely transmission investment is key to facilitating a strong, competitive wholesale electricity market.

The publication is available on the Meridian Energy website at:
http://wwwmeridianenergy.co.nz/AboutUs/Reports/

ENDS

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