Meridian Energy is a state-owned enterprise formed on April 1, 1999 when the dominant state-owned generating company, ECNZ, (Electricity Corporation of New Zealand), was split into three companies. The company is New Zealand's largest electricity generator with 2500 MW of capacity meeting about 33% of demand. It also manages about 70 per cent of the country's hydro storage. Its major assets are the nine hydro power stations located in the South Island: eight on the Waitaki River system and the country's largest hydro station at Manapouri in Fiordland. Meridian Energy is also a nation-wide retailer of electricity.
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