Spot prices for Wednesday 2nd November 2011 - Prices averaged in the Low $60’s for the South Island & in the Low $60’s to Low $70’s for the North Island for the day. There is a northward flow on the HVDC link. Patricia Joseph, Management Support 03/11/11

After completing a thorough evaluation, Meridian Energy has purchased a license to deploy and use Energy Link’s EMarket model of the electricity market and supply system. The evaluation included an extensive comparison of EMarket’s water values and operation of large hydro systems against the influential SPECTRA model which was originally developed by the Electricity Corporation of New Zealand in the late 1980s, and still used at Meridian today.

A new and improved water value algorithm was developed for EMarket in 2010 and extensively tested prior to and during the evaluation by Meridian.

Olly McCahon, Modelling Services Manager at Meridian, undertook the evaluation and will have his modelling team using EMarket to model the nodal prices which are set in the electricity spot market.

Meridian joins two other major generators who currently license EMarket.

Greg Sise, Managing Director

Spot prices for Monday 25th July 2011 - Prices averaged in the Mid $110’s for both the South & North Islands for the day. There is a continued northward flow on the HVDC link . Patricia Joseph, Management Support 26/07/11

Spot prices for Sunday 24th July 2011 - Prices averaged in the Low to Mid $60’s for the South Island and Prices averaged in the High $50’s to Low $60’s for North Island for the day. There is a continued northward flow on the HVDC link . Patricia Joseph, Management Support 25/07/11

Spot prices for Saturday 23th July 2011 - Prices averaged in the low $80’s in the South Island and in the Low $20’s for the North Island for the day. There was a southward flow on the HVDC link. Patricia Joseph, Management Support 25/07/11