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Asia

New Zealand Shares Fall; Meridian Energy Retail Contracted Sales Volumes Rise in May

New Zealand shares ended lower on Monday despite a broad-based rise in Asian shares after a Middle East peace deal was finally confirmed.The S&P/NZX 50 Index fell 0.25%, or 33.28 points, to close at 13,360.59.US and Iranian officials said they had reached a framework agreement to end the conflict, lift the U.S. blockade of Iran, and reopen the Strait of Hormuz, while Iran's nuclear program remains subject to further negotiations, Reuters reported on Sunday."The prospect of a sustained fall in energy prices changes the conversation for central banks just ahead of a flurry of policy decisions," said Sean Callow, a senior FX analyst at ⁠ITC Markets, as quoted by ReutersIn domestic news, New Zealand's services sector contracted further in May as weak consumer demand and rising costs continued to weigh on activity, according to a statement by BusinessNZ.Also, supplier costs for food supermarkets in New Zealand rose in May, marking an increase in the pace of growth after half a year of a slowdown, Infometrics said.Further, New Zealand's electronic card spending rose 2.2% month over month to NZ$9.85 billion in May on a seasonally-adjusted basis, compared with the 1.9% decrease recorded in the previous month, according to data from Stats NZMeanwhile, the volume of national home sales in New Zealand fell 12.6% year over year in May to 6,523, while the median sale price ticked 1.3% higher to NZ$775,000, according to data by the Real Estate Institute of New Zealand.In corporate news, Meridian Energy's (ASX:MEZ, NZE:MEL) retail contracted sales volumes rose to 860 gigawatt hours (GWh) in May from 798 GWh a year earlier.Air New Zealand (NZE:AIR, ASX:AIZ) said Saturday it expects services in and out of Wellington airport to mostly start operating as scheduled on Saturday, June 13, following a fire incident on the night of Friday, June 12.

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Asia

NZX Midday Sector Update: Distribution Services Rise, Utilities Decline

Distribution services shares gained the most on New Zealand's Exchange, rising almost 3% by midday Monday.Shares of Vulcan Steel (NZE:VSL, ASX:VSL) rose nearly 3% in recent trade.Meanwhile, the utilities sector shares fell past 1%.Shares of Meridian Energy (NZE:MEL, ASX:MEZ) drove the decline, falling almost 2% in recent trade.The company said on Monday that its retail contracted sales volumes rose to 860 gigawatt hours (GWh) in May from 798 GWh a year earlier.

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Asia

Meridian Energy Retail Contracted Sales Volumes Rise in May

Meridian Energy's (ASX:MEZ, NZE:MEL) retail contracted sales volumes rose to 860 gigawatt hours (GWh) in May from 798 GWh a year earlier, according to a Monday filing with the New Zealand bourse.Compared with the prior corresponding period, residential sales soared past 20%, large business sales rose 8.3%, small medium business sales increased 6.7%, and agriculture and corporate sales rose 9.7% and 1.2%, respectively.National electricity demand in May was 1.7% higher compared with the year earlier. In the month to June 8, national hydro storage increased to 125% from 119% of the historical average, per the filing.Total inflows for May reached 82% of the historical average.

ASX:MEZNZE:MEL
Asia

Meridian Energy 'Welcomes' Draft Fast-Track Decision to Relax Lake Pukaki Water Limits

Meridian Energy (NZE:MEL, ASX:MEZ) "welcomed" a fast-track panel draft decision to relax operating limits at Lake Pukaki, allowing use of water stored between 518 and 513 meters above sea level for three years, ahead of a Transpower-estimated 4% electricity shortage risk threshold, according to a Friday filing with the Australian and New Zealand bourses.The company acknowledged stakeholder concerns regarding eased access to contingent storage and proposes that, if the draft is confirmed, half of the five meters of contingent storage continue to be restricted to periods of heightened supply security risk for the remainder of the year, given the positive hydro outlook for winter, the filing said.The draft decision also approves permanent rock armoring at Pukaki Dam to improve resilience against wave erosion under lower lake operating levels.The panel's final decision is due by July 3, the filing added.

ASX:MEZNZE:MEL
Asia

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

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.)

ASX:MEZNZE:MEL
Asia

New Zealand Regulator Imposes New Rules on Top Energy Companies to Boost Competition in Electricity Sector

New Zealand's Electricity Authority on Tuesday imposed non-discrimination obligations on the country's four largest energy companies in a bid to level the playing field for hedging contracts in the electricity sector.Under the new rules, which are effective from July 1, Contact Energy (NZE:CEN, ASX:CEN), Genesis Energy (NZE:GNE, ASX:GNE), Mercury (NZE:MCY, ASX:MCY), and Meridian Energy (NZE:MEL, ASX:MEZ) will be required to provide risk management contracts to all buyers on an even-handed basis. This will prevent the companies from favoring their own retail divisions on price or non-price terms.The four power generation-retailer, or gentailer, firms will need to furnish compliance plans to the Authority each year, and also submit six-monthly assessments justifying their retail price offers relative to their expected cost of electricity supply.Electricity Authority Acting Chair Erik Westergaard said the new rules will boost competition, enhance transparency, and can be implemented quickly without a material cost increase for gentailers.Shares of all four companies rose less than 1% in recent Tuesday trade on the New Zealand bourse.

ASX:CENASX:GNEASX:MCYASX:MEZNZE:CENNZE:GNENZE:MCYNZE:MEL
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses.Insurance Australia Group (ASX:IAG): -4%, AU$7.82Block (ASX:XYZ): -3%, AU$96.49Xero (ASX:XRO): -2%, AU$74.65Wisetech Global (ASX:WTC): -1%, AU$37.11Goodman Group (ASX:GMG): -1%, AU$30.44Origin Energy (ASX:ORG): -1%, AU$10.95Telstra Group (ASX:TLS): -1%, AU$5.39APA Group (ASX:APA): -1%, AU$10.20QBE Insurance Group (ASX:QBE): -1%, AU$23.65Meridian Energy (ASX:MEZ): -1%, AU$4.81

ASX 200ASX:APAASX:GMGASX:IAGASX:MEZASX:ORGASX:QBEASX:TLSASX:WTCASX:XROASX:XYZ
Asia

Meridian Energy Launches 500th Electric Vehicle Charge Point in New Zealand

Meridian Energy (NZE:MEL, ASX:MEZ) launched its 500th electric vehicle charge point in New Zealand as part of its commitment to roll out a further 900 public charge points through to 2030, the power company said in a statement on Wednesday.The company has opened 120 charge points since November and 18 this month alone.It is planning to launch more charge points in the central and upper North Island and South Island, per the statement.Meridian Energy's shares fell nearly 2% in recent Wednesday trade in New Zealand and Australia.

ASX:MEZNZE:MEL
Asia

New Zealand Shares Fall; Fletcher Building Sells South Australia Industrial Property for Over AU$20 Million

New Zealand shares ended lower on Thursday amid a broad-based decline in Asian shares as inflation fears impacted US Treasury bonds.The S&P/NZX 50 Index fell 0.46% or 60.06 points to close at 12,965.01.The US Treasury two-year yield rose to 4.07%, and the 10-year yield rose 4.5% amid investors' expectations of an upcoming Federal Reserve rate hike as inflation pressures rise.In domestic news, petrol and diesel prices in New Zealand increased by nearly 13% and 37%, respectively, in April compared with the previous month, according to a Stats NZ selected price indexes report.Also, New Zealand's manufacturing sector showed only marginal growth in April, as weakening demand and production pointed to a clear slowdown amid rising global uncertainty and softer business conditions, BusinessNZ said.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) entered into an unconditional agreement to sell its surplus Iplex Australia industrial property in Elizabeth for AU$20.1 million to an industrial property investor.Meridian Energy (ASX:MEZ, NZE:MEL) secured approval to develop the Bunnythorpe Energy Park in Manawatu in New Zealand's North Island, featuring a 120-megawatt (MW) solar farm alongside a previously approved battery energy storage system.

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Asia

Meridian Energy Secures Consent for 120-Megawatt North Island Solar-Battery Park

Meridian Energy (ASX:MEZ, NZE:MEL) secured approval to develop the Bunnythorpe Energy Park in Manawatu in New Zealand's North Island, featuring a 120-megawatt (MW) solar farm alongside a previously approved battery energy storage system, according to a Friday filing with the Australian and New Zealand bourses.The project will feature about 250,000 solar panels that are expected to produce around 225 gigawatt-hours of electricity each year, enough to power roughly 30,000 homes, per the filing.The development is part of the company's NZ$3 billion renewable energy investment plan through 2030 and comes after its first energy park project at Ruakaka, the filing said.The project is expected to generate more than 100 local construction jobs and contribute up to NZ$50 million in local spending, with a final investment decision expected in the fourth quarter of fiscal 2027, the filing added.

ASX:MEZNZE:MEL
Asia

Meridian Energy Retail Contracted Sales Volumes Rise in April

Meridian Energy's (ASX:MEZ, NZE:MEL) retail contracted sales volumes rose to 799 gigawatt hours (GWh) in April from 738 GWh a year earlier, according to a Friday filing with the New Zealand bourse.Compared with the prior corresponding period, residential sales soared 25%, large business sales rose past 11%, small medium business sales increased 9.2%, and agriculture and corporate sales rose 6.1% and 0.8%, respectively.National electricity demand in April was 3.7% higher compared with the year earlier. In the month to May 11, national hydro storage increased to 119% from 106% of the historical average, per the filing.Total inflows for April reached 98% of the historical average.

ASX:MEZNZE:MEL
Asia

Meridian Energy Joins S&P Dow Jones Best-in-Class World Sustainability Index

Meridian Energy (ASX:MEZ, NZE:MEL) has been included in the S&P Dow Jones Best-in-Class World Index, which measures corporate sustainability performance globally, according to a Tuesday filing with the Australian and New Zealand bourses.The index is based on S&P Global's corporate sustainability assessment, an independent evaluation that assesses organizations on resilience, governance, risk management, and the quality and transparency of their environmental, social, and governance disclosures, the filing said.

ASX:MEZNZE:MEL
Asia

Meridian Energy Retail Contracted Sales Volumes Rise in March

Meridian Energy's (ASX:MEZ, NZE:MEL) retail contracted sales volumes rose to 876 gigawatt hours (GWh) in March from 786 GWh a year earlier, according to a Friday filing with the Australian and New Zealand bourses.Compared with the prior corresponding period, residential sales soared nearly 28%, large business sales rose over 14%, small medium business sales increased 8.2%, and agriculture and corporate sales rose nearly 31% and 1.7%, respectively.National electricity demand in March was 4.5% higher, compared with the year earlier. In the month to April 13, national hydro storage decreased to 106% from 110% of the historical average, per the filing.Total inflows for March reached 74% of the historical average.

ASX:MEZNZE:MEL