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Market Chatter: Meridian Energy CEO Tells Lawmakers Country Does Not Need LNG Imports to Cover Electricity Supply Shortages, Radio New Zealand Says

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Meridian Energy (ASX:MEZ, NZE:MEL) Chief Executive Mike Roan told a New Zealand Parliamentary committee on Thursday that the country does not need to import liquefied natural gas (LNG) to cover electricity supply shortages, Radio New Zealand reported on Friday.

The government is considering a proposal for LNG imports when lake levels are low for hydropower generation, and solar and wind power cannot meet demand, the report said.

Roan said that "the analysis shows dry-year risk is being managed through the next 10 years," due to the agreements the electricity sector had put in place, including the Huntly strategic coal reserve, demand response measures with the Tiwai Point aluminium smelter, and remaining generation sources.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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