By Pattrick SmellieMeridian Energy's revenues from offshore activities are closing in on 10 per cent of total income, with political uncertainty in Australia about the use of renewable energy offering both opportunities and risks for the Wellington-based renewable electricity generator and retailer. "The flip side to this has been a strong price for LGCs, which has been a contributor to improved generation prices." Meanwhile, Meridian believes its largest customer - the Rio Tinto-controlled aluminium smelter near Bluff - "remains cash positive at current prices and exchange rates". The smelter consumes about 12 per cent of all electricity generated in New Zealand. Meridian shares were trading late morning at $2.67, a 0.2 per cent rise on yesterday's close.

Source: New Zealand Herald February 21, 2017 22:18 UTC