Meridian Energy leads strategic reserve deal for power security

Meridian Energy, Genesis, Mercury, and Contact have agreed to establish a strategic energy reserve at Huntly Power Station to address last year's significant gas shortage and manage dry-year risk for the next decade.

Meridian chief executive Mike Roan emphasized the importance of reliable back-up fuel availability and price stability. The agreements are subject to Commerce Commission review, with commencement planned for 1 January 2026.

Genesis plans to allow other parties to secure reserve arrangements following the regulatory review.