Net loss: $121m, from profit of $191m a year earlier
Key takeaway: Bottom line hit with $441m expense from hedge contracts.
The winter energy crisis took its toll on electricity generator and retailer Meridian as the cost of hedge contracts contributed to a $121 million loss for the six months to December.
“We took a hit for New Zealand,” said chief executive Neal Barclay.
“Meridian put this country’s security of
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