Why Is Meridian Energy’s Hydro Storage Dropping While Retail Sales Surge?

• National hydro storage fell from 104% to 87% of historical average by mid-August
• South Island hydro storage dropped to 79%, North Island remained higher at 119%
• Retail electricity sales volumes rose 9.4% year-on-year across all customer segments
• Generation increased 9.6% driven by hydro and wind, despite a 70%+ drop in average generation prices