1
00:00:00,240 --> 00:00:03,520
Speaker 1: Transpower has decided that power generators will now be allowed

2
00:00:03,520 --> 00:00:05,280
Speaker 1: to dip into the hydro lakes that are already at

3
00:00:05,320 --> 00:00:08,160
Speaker 1: record low levels. Controlled hydro storage is sitting at just

4
00:00:08,320 --> 00:00:11,440
Speaker 1: fifty five percent of average for this time of year. Now,

5
00:00:11,440 --> 00:00:14,120
Speaker 1: that is one of the lowest levels in about ninety years.

6
00:00:14,120 --> 00:00:16,040
Speaker 1: Neil Barclay's Meridian's chief executive.

7
00:00:16,040 --> 00:00:18,960
Speaker 2: Hey, Neil, Hi, Heather, how are you well?

8
00:00:19,000 --> 00:00:21,160
Speaker 1: Thank you, You've got permission to draw down, but are

9
00:00:21,160 --> 00:00:22,799
Speaker 1: you actually going to draw down.

10
00:00:24,400 --> 00:00:28,680
Speaker 2: At this I'd say it's unlikely. We've had some drips

11
00:00:28,720 --> 00:00:31,200
Speaker 2: and drags of water into the lakes in the last week,

12
00:00:32,080 --> 00:00:35,880
Speaker 2: excuse me, and the forecast is looking pretty strong as well,

13
00:00:36,280 --> 00:00:38,400
Speaker 2: plus all the other actions that have been taken across

14
00:00:38,440 --> 00:00:40,960
Speaker 2: the sector, you know, for example, the meth and X

15
00:00:41,040 --> 00:00:45,519
Speaker 2: deal and the demand response deal that we've done with

16
00:00:45,640 --> 00:00:47,040
Speaker 2: ENSIS over the last week as well.

17
00:00:47,120 --> 00:00:49,000
Speaker 1: Okay, so we go for the gas out of the

18
00:00:49,000 --> 00:00:51,480
Speaker 1: methaex deal before we start drawing down on the hydro lakes.

19
00:00:51,520 --> 00:00:55,920
Speaker 2: Yeah, ideally, Yeah, I mean there are environmental impacts once

20
00:00:55,920 --> 00:00:58,400
Speaker 2: you's driven to the bottom ends of those lakes, and

21
00:00:58,440 --> 00:01:01,680
Speaker 2: so we do it cautiously and we're certainly going to

22
00:01:01,760 --> 00:01:02,920
Speaker 2: use the meth and X options.

23
00:01:02,920 --> 00:01:06,040
Speaker 1: First, Neil, if we were to draw down, we would

24
00:01:06,080 --> 00:01:08,640
Speaker 1: potentially be bringing ourselves trouble in summer, wouldn't we because

25
00:01:08,680 --> 00:01:11,360
Speaker 1: then the lake levels might be too low.

26
00:01:12,720 --> 00:01:15,160
Speaker 2: Well, we're coming into and flow seasons, so typically in

27
00:01:15,200 --> 00:01:17,399
Speaker 2: the Southern Alps you get a lot of weather patterns

28
00:01:17,400 --> 00:01:19,880
Speaker 2: coming and dropping a lot of water into the mountains,

29
00:01:20,520 --> 00:01:23,319
Speaker 2: you know, in spring and in summer that's typically when

30
00:01:23,360 --> 00:01:27,319
Speaker 2: we get most of the inflow. So you know, the

31
00:01:27,360 --> 00:01:31,880
Speaker 2: outroock's still a bit uncertained. But ideally we'd like to

32
00:01:31,920 --> 00:01:34,319
Speaker 2: go certainly into the next winter for lakes, and so

33
00:01:34,440 --> 00:01:36,399
Speaker 2: that's that's what we need to manage between down.

34
00:01:36,440 --> 00:01:38,240
Speaker 1: Then all right, is this going to bring down power prices?

35
00:01:40,240 --> 00:01:42,160
Speaker 2: Yeah? Well I think as soon as I like start

36
00:01:42,200 --> 00:01:45,480
Speaker 2: filling up and we can start reverting more back into hydrogeneration,

37
00:01:45,840 --> 00:01:48,640
Speaker 2: you'll certainly see spot prices start us often quite a lot.

38
00:01:48,720 --> 00:01:49,960
Speaker 1: How far how far away is that?

39
00:01:52,000 --> 00:01:54,440
Speaker 2: Well, like I say, there's a massive weather system coming out.

40
00:01:54,440 --> 00:01:56,560
Speaker 2: I shouldn't say because I don't want to jinx it,

41
00:01:56,600 --> 00:01:58,760
Speaker 2: but there is a lot of water coming into the hills.

42
00:01:59,280 --> 00:02:01,279
Speaker 1: I mean, which talking within days?

43
00:02:01,320 --> 00:02:01,640
Speaker 3: Are we?

44
00:02:03,760 --> 00:02:06,280
Speaker 2: Yeah? Probably depending on how much if we get a

45
00:02:06,320 --> 00:02:09,920
Speaker 2: meter lift in the lake, for example, over the course

46
00:02:09,960 --> 00:02:13,239
Speaker 2: of the weekend and into next week. That buys another

47
00:02:13,919 --> 00:02:17,240
Speaker 2: two or three weeks, and then you expect to get

48
00:02:17,280 --> 00:02:20,120
Speaker 2: further and flows as we move into sort of spring.

49
00:02:20,240 --> 00:02:24,040
Speaker 2: So it's all looking a lot more favorable than what

50
00:02:24,120 --> 00:02:26,799
Speaker 2: it was probably three weeks ago. That's a key point.

51
00:02:26,840 --> 00:02:27,440
Speaker 1: That's good news.

52
00:02:27,480 --> 00:02:27,679
Speaker 2: Neil.

53
00:02:27,720 --> 00:02:29,959
Speaker 1: Thank you very much, Neil Barclay, Chief executive at Meridian.

54
00:02:30,000 --> 00:02:31,519
Speaker 1: We're all going to become like farmers now and pray

55
00:02:31,560 --> 00:02:31,919
Speaker 1: for rain.

56
00:02:32,760 --> 00:02:35,919
Speaker 3: For more from Heather Duplessy Allen Drive. Listen live to

57
00:02:36,000 --> 00:02:39,040
Speaker 3: news talks. It'd be from four pm weekdays, or follow

58
00:02:39,080 --> 00:02:40,799
Speaker 3: the podcast on iHeartRadio