Meridian Energy Limited · NZX:MEL
Meridian Energy — Macquarie Australia Conference 2023
12 slides from Meridian Energy's conference presentation, May 2, 2023
Slide 1: Macquarie Australia Conference Presentation
Macquarie Australia Conference Presentation 2 MAY 2023
Slide 2: Today
Today § Transition in the New Zealand electricity system § New Zealand Government’s climate change work programme § The future electrification opportunity and the challenges § Meridian Energy 2 MAY 2023 2023 MACQUARIE CONFERENCE PRESENTATION 2
Slide 3: Transition in the New Zealand electricity system
Transition in the New Zealand electricity system § Decarbonisation of the economy will require Generation by fuel type significant electrification TWh dry 12 swing Hydro § Moving to a near fully renewable electricity system will require dry year risk solutions 10 Coal § Demand side participation is
Slide 4: Southern Green Hydrogen
Southern Green Hydrogen § Large-scale green hydrogen in the lower South Island § Moved into a development stage with Woodside Energy and Mitsui § Meridian has a 40% holding option for itself and iwi § Targeting to produce 500,000 tonnes of green ammonia per year § Facility could potentially provide
Slide 5: Climate Change Response (Zero Carbon) Amendment Act
Climate Change Response (Zero Carbon) Amendment Act § Established a new, independent Climate Change Commission § Sets a new domestic greenhouse gas emissions reduction target § Establishes a system of emissions budgets § Requires the Government to develop and implement policies for climate change ad
Slide 6: Emissions Reduction Plan
Emissions Reduction Plan § Requires additional emissions reductions in Average annual emissions 2022-2025 Mt CO2-e Agriculture Non agriculture Total 100 Emissions Reduction Plan § Targets transport and energy emissions 90 79.5 79.5 80 § Is supported by $2.9B of funding from the 72.5 70 Government’s
Slide 7: The electrification opportunity
The electrification opportunity Annual demand for generation TWh history range of future growth 70 $30+ 65 billion of new 60 generation investment 55 50 45 40 35 30 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 2030 2033 2036 2039 2042 2045 2048 Financial Year ended 30 June Source: Meridian
Slide 8: The challenges
The challenges § Government price settings on the ETS NZU spot price and ETS settings $/tCO2e materially lag the Climate Change 250 Commission's recommendations § Resource management legislative reforms 200 risk unintended consequences § Driving too early towards a 100% renewable 150 electricity gri
Slide 9: Building Meridian's development pipeline
Building Meridian’s development pipeline § Deep pipeline of 4.7 GW (11.1 TWh) of development options § 1.5 GW secured, 3.2 GW in advanced prospects 2 MAY 2023 2023 MACQUARIE CONFERENCE PRESENTATION 9
Slide 10: Evolving Meridian's customer approach
Evolving Meridian’s customer approach Retail sales volume § From growth GWh 10,000 8,941 56% 8,000 8,405 growth 7,376 in 5 6,000 years 5,981 6,240 5,727 4,000 2017 2018 2019 2020 2021 2022 Financial Year ended 30 June Source: Meridian § To energy solutions 2 MAY 2023 2023 MACQUARIE CONFERENCE PRESEN
Slide 11: Why Meridian?
Why Meridian? High quality investment quality, high free progressive balance strong deep scale assets cash flow ordinary sheet growth renewable dividend headroom outlook development pipeline H2 Renewable energy generation Customer decarbonisation New markets Building on our existing 100% renewable W
Slide 12: Disclaimer
Disclaimer The information in this presentation was prepared by Meridian This presentation contains a number of non-GAAP financial Energy with due care and attention. However, the information is measures, including Energy Margin, EBITDAF, Underlying NPAT and supplied in summary form and is therefore
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