Despite record hydro inflows, the average Kiwi is unlikely to see any savings on their energy bills.  

Inflows into the lakes hit 123% of the historical average in December – marking the second highest July-December period on record. 

Generation volumes are also up 13% on the same time last year, pushing wholesale prices down.  

Meridian Energy CEO Mike Roan told Mike Hosking the country’s energy stores are in better shape than they were in 2024, and compared to that period, we might even have the lowest wholesale electricity prices in the OECD. 

However, while wholesale customers will see some savings, he says residential customers will see increases in their bills driven by Commerce Commission approved increases to the lines, and distribution and transmission charges that will flow through in the next few years. 

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