Rio Tinto has a caused a stir among electricity gentailers this week. What it might mean for Meridian going forward.
The big news in the New Zealand market recently involved the electricity gentailers. They were punished by investors after Rio Tinto, which controls the major stake in New Zealand Aluminium Smelters (NZAS), said it was reviewing the Tiwai Point smelter's future after rejecting Meridian's proposed pricing. This has impacted Meridian. The other gentailers such as Contact, Mercury, and Genesis have also seen their share price take a hit.