Meridian spilled from both its Waitaki (pictured) and Waiau schemes throughout December and January. Photo: Meridian EnergyA wet summer has kept Meridian's hydro storage lakes topped up, which could help keep power prices in check down the track. Record rainfall in both the North and South Islands in January saw flows coming into the lakes exceed historical averages. Meridian spilled from both its Waitaki and Waiau schemes throughout December and January, with national storage falling from 135 percent to 117 percent of the historical average. Photo: Meridian Energy"Hydro lakes are fuller than they'd normally be this time of year, which bodes well as we approach winter.

Source: Otago Daily Times February 13, 2026 08:27 UTC