The consent runs for three years, covering the 2026, 2027 and 2028 winter periods.
Meridian CEO Mike Roan welcomed the final approval.
“We are really pleased that the Panel has confirmed its draft decision. This is good news for New Zealand’s electricity system and for consumers,” Roan said.
“Access to contingent storage will lower the price of electricity traded in the wholesale market by increasing the amount of renewable energy and lowering-cost fuel available. This will, in turn, put downward pressure on the fixed rates retailers offer to residential and business customers, which is our number one priority.”
The draft decision was issued despite opposition from Transpower, Genesis Energy and Energy Minister Simeon Brown, with the Electricity Authority supporting the application on the grounds that it provided a pragmatic mechanism to manage potential energy shortfalls.
