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Proposed Mokihinui Hydro Scheme Appeal
BEFORE THE ENVIRONMENT COURT AT CHRISTCHURCH ENV-2010-CHC-115, 123, 124 AND 135 IN THE MATTER of Appeals pursuant to Section 120 of the Resource Management Act 1991 BETWEEN WEST COAST ENT INC Appellant AND ROYAL FOREST AND BIRD PROTECTION SOCIETY OF NEW ZEALAND INC Appellant AND WHITE WATER NEW ZEALAND INC Appellant AND DIRECTOR GENERAL OF CONSERVATION Appellant AND WEST COAST REGIONAL COUNCIL AND BULLER DISTRICT COUNCIL Respondents ....Continued over leaf STATEMENT OF EVIDENCE OF ROBIN COCHRANE RHODES DELAMORE Draft as at 22/05/2012 Department of Conservation West Coast Tai o Poutini Conservancy Private Bag 701 Sewell Street HOKITIKA Ph 03 756 9100 Fax 03 756 9188 Counsel Acting D van Mierlo AND MERIDIAN ENERGY LIMITED Applicant AND FRIDA INTA Section 274 Party AND WHANAU PIHAWAI WEST – RICHARD WAYNE BARBER AND IRI MAY BARBER- MILNER Section 274 Party AND J MacTAGGART Section 274 Party AND ORION ENERGY NZ LTD, ALPINE ENERGY LTD, MAIN POWER NZ LTD AND ELECTRICITY ASHBURTON LTD Section 274 Party AND NZ RAFTING INC Section 274 Party AND ANN SHERIDAN Section 274 Party AND BULLER ELECTRICITY Section 274 Party 1 STATEMENT OF EVIDENCE OF ROBIN DELAMORE TABLE OF CONTENTS Note: this draft evidence is not complete, and has been developed on the basis of the draft evidence of technical witnesses for the Director General of Conservation. The wording and references used may therefore not reflect the final briefs of evidence for those witnesses. INTRODUCTION 1. My full name is Robin Cochrane Rhodes Delamore. I am a resource management consultant, based in Christchurch. I hold the qualification of MSc (Resource Management) from Canterbury University, and have 30 year’s experience in resource management and planning. -
Meridian Energy
NEW ZEALAND Meridian Energy Performance evaluation Meridian Energy equity valuation Macquarie Research’s discounted cashflow-based equity valuation for Meridian Energy (MER) is $6,463m (nominal WACC 8.6%, asset beta 0.60, TGR 3.0%). We have assumed, in this estimate, that MER receives $750m for its Tekapo A and B assets. Forecast financial model Inside A detailed financial model with explicit forecasts out to 2030 has been completed and is summarised in this report. Performance evaluation 2 Financial model assumptions and commentary Valuation summary 5 We have assessed the sensitivity of our equity valuation to a range of inputs. Financial model assumptions and Broadly, the sensitivities are divided into four categories: generation commentary 7 assumptions, electricity demand, financial and price path. Financial statements summary 15 We highlight and discuss a number of key model input assumptions in the report: Financial flexibility and generation Wholesale electricity price path; development 18 Electricity demand and pricing; Sensitivities 19 The New Zealand Aluminium Smelters (NZAS) supply contract; Alternative valuation methodologies 20 Relative disclosure 21 MER’s generation development pipeline. Alternative valuation methodology We have assessed a comparable company equity valuation for the company of $4,942m-$6,198m. This is based on the current earnings multiples of listed comparable generator/retailers globally. This valuation provides a cross-check of the equity valuation based on our primary methodology, discounted cashflow. This valuation range lies below our primary valuation due, in part, to the recent de-rating of global renewable energy multiples (absolutely and vis-a-vis conventional generators). Relative disclosure We have assessed the disclosure levels of MER’s financial reports and presentations over the last financial period against listed and non-listed companies operating in the electricity generation and energy retailing sector in New Zealand. -
Richard Montgomerie
Richard Montgomerie Qualifications MSc (Ecology) - Otago University. Professional Affiliations • New Zealand Freshwater Sciences Society. • New Zealand Royal Society. • Resource Management Law Association. • Rotorua Lakes Water Quality Society. • Eastern Region Fish and Game Councillor. Career Summary Richard is the founder and director of Freshwater Solutions Ltd. As a freshwater scientist and environmental consultant Richard has worked throughout New Zealand and in Europe since 1998. He specialises in providing freshwater environmental services to address management issues including monitoring and assessing freshwater ecological effects associated with a wide range of activities such as discharges to water, land use change, water takes, damming and diverting water. Richard has held senior roles at Kingett Mitchell Ltd, the Water Research Centre (UK) and Golder Associates including managing Kingett Mitchell’s Christchurch office and Golder Associates Tauranga office. Richard has managed a diverse range of freshwater environmental projects in many sectors throughout New Zealand and has an in-depth knowledge of the freshwater resources, water management issues, stakeholders, sectors and regulators in all our regions. Project managing complex multi disciplinary teams, providing strategic environmental advice and expert representation are services that Richard has provided to many of New Zealand’s largest public and private sector organisations. Employment Record Director Freshwater Solutions Ltd 2009 - present Founder and director of Freshwater -
A New Start for Fresh Water: Allocation and Property Rights Robert Makgill*
Peer Reviewed Articles A New Start for Fresh Water: Allocation and Property Rights Robert Makgill* INTRODUCTION applications had priority over Meridian’s North Bank Tunnel project.6 Water is used for a number of competing activities in New Zea- land, which contribute to economic, social and cultural well- Yet it is argued in some quarters that the national importance of being. Yet demand for use has grown to the point where it is securing renewable electricity supplies outweighs the economic expected that “the majority of the catchments that support New and social value of further irrigation. According to this argu- Zealand’s main population centres and agricultural production ment even though irrigation applications may have priority they … [will] be fully allocated by 2012”.1 do not represent the most valued use of the water resource to society. Hydroelectric generation followed by irrigation are by far the largest users of water in New Zealand.2 Hydro is considered to This is the basis of the present government’s approach to water be a non-consumptive use because the water re-enters the river allocation under its New Start for Fresh Water (NSFW) strategy, system down stream. Irrigation is considered to be a consump- which was initiated in June 2009. That is, faced with a growing tive use because the water does not re-enter a water body. scarcity of supply, water should be allocated to its most valued Water allocated for irrigation has been estimated to be as much use. as 77 percent of water allocated for consumptive uses.3 The degree to which permit holders exercise property rights Competition for allocation is fierce and often litigious. -
Hydroelectricity Or Wild Rivers? Climate Change Versus Natural Heritage
1 Hydroelectricity or wild rivers? Climate change versus natural heritage May 2012 2 Acknowledgements The Parliamentary Commissioner for the Environment would like to express her gratitude to those who assisted with the research and preparation of this report, with special thanks to her staff who worked so tirelessly to bring it to completion. Photography Cover: Mike Walen - Aratiatia Rapids This document may be copied provided that the source is acknowledged. This report and other publications by the Parliamentary Commissioner for the Environment are available at: www.pce.parliament.nz 3 Contents Contents 2 1 Introduction 7 3 1.1 The purpose of this report 8 1.2 Structure of report 9 1.3 What this report does not cover 9 2 Harnessing the power of water – hydroelectricity in New Zealand 11 2.1 Early hydroelectricity 13 2.2 The big dam era 15 2.3 Hydroelectricity in the twenty-first century 21 3 Wild and scenic rivers - a short history 23 3.1 Rivers were first protected in national parks 24 3.2 Legislation to protect wild and scenic rivers 25 3.3 Developing a national inventory 26 3.4 Water bodies of national importance 28 4 How wild and scenic rivers are protected 29 4.1 Protecting rivers using water conservation orders 29 4.2 Protecting rivers through conservation land 37 5 The electricity or the river – how the choice is made 43 5.1 Obtaining resource consents 44 5.2 Getting agreement to build on conservation land 47 6 Environment versus environment 49 6.1 What are the environmental benefits? 49 6.2 Comparing the two – a different approach -
Meridian Energy Annual Report for Year Ended !" June #"$" How Much Power?
Meridian Energy Annual Report for year ended !" June #"$" How much power? Meridian is the largest state-owned electricity generator in New Zealand, providing around 30% of New Zealand's total generation. We also retail electricity to more than 180,000 residential, rural and business customers. NAME: CalRENEW!1 NO. OF PV PANELS: %",""" CAPACITY: %MW TOTAL GWh PRODUCED !"##$%&#' # i NAME: Mt Millar3 NAME: Ross Island NO. OF TURBINES: !% NAME: Macarthur2 NO. OF TURBINES: ! CAPACITY: &"MW LOCATION: Victoria CAPACITY: $MW TOTAL GWh PRODUCED STAGE: Pre-construction design !"##$%&#' $" CAPACITY: '#"MW NAME: Mt Mercer LOCATION: Victoria STAGE: Pre-construction design CAPACITY: $!"MW Front Cover: The Ross Island wind farm and Mt Erebus from Observation Hill, Antarctica. Courtesy of George Blaisdell, Antarctica NZ Pictorial Collection. NAME: Central Wind NAME: Te Āpiti STAGE: Consented NO. OF TURBINES: ## CAPACITY: !"$MW CAPACITY: '$MW TOTAL GWh PRODUCED !"##$%&#' %"# TOTAL GWh PRODUCED !"##(%#$' %$' NAME: Ohau A NAME: Te Uku NO. OF GENERATORS: & STAGE: Under construction CAPACITY: ")&MW CAPACITY: )&MW NAME: West Wind TOTAL GWh PRODUCED !,!%& !"##$%&#' NO. OF TURBINES: )" NAME: Mill Creek TOTAL GWh PRODUCED '(% CAPACITY: !&%MW !"##(%#$' STAGE: Environment Court appeal TOTAL GWh PRODUCED &'* CAPACITY: )*MW !"##$%&#' TOTAL GWh PRODUCED !"##(%#$' %( NAME: Ohau B NAME: Mokihinui NO. OF GENERATORS: & STAGE: Environment Court appeal CAPACITY: "!"MW CAPACITY: (#MW NAME: Tekapo A TOTAL GWh PRODUCED '&( !"##$%&#' NO. OF GENERATORS: ! ii TOTAL GWh PRODUCED iii CAPACITY: !"##(%#$' (%& "#MW Brooklyn TOTAL GWh PRODUCED !"##$%&#' !#" TOTAL GWh PRODUCED Wellington !"##(%#$' !"& NAME: Ohau C NO. OF GENERATORS: & CAPACITY: "!"MW NAME: Hurunui Wind TOTAL GWh PRODUCED STAGE: Consultation NAME: Tekapo B !"##$%&#' '&$ CAPACITY: *(MW NO. OF GENERATORS: " TOTAL GWh PRODUCED ("( !"##(%#$' Christchurch CAPACITY: !)$MW TOTAL GWh PRODUCED !"##$%&#' (!* TOTAL GWh PRODUCED (%% NAME: Benmore !"##(%#$' Twizel NAME: Hunter Downs Irrigation NO. -
KELLI TE MAIHĀROA Waitaki: Water of Tears, River of Mana
https://doi.org/10.34074/junc.21009 KELLI TE MAIHĀROA Waitaki: Water of Tears, River of Mana This paper illuminates the significance of the braided mighty Waitaki River and how it sustains the people that shelter within her valley. This article begins acknowledging Rākaihautū as the first person to occupy and consecrate the land of Te Waipounamu, the South Island of Aotearoa New Zealand. It is Rākaihautū that journeyed through this island as he carved out and named the great southern mountains and lakes, thus establishing ahi kā (occupation rights) of the Waitaha tribe. These ancient names anoint and link these sacred waterways and bountiful pools to the ancestral Pacific homelands of Te Patu Nui o Aio. The naming and formation of the land and cascading waterways that flow from her is further explored in a pūrākau (narrative) about the Māori atua (deity) of Tane and his brothers, which includes the positioning of his tallest brother Aoraki, whose tears symbolically represent the Waitaki River. The second half of this article then turns to focus on several Waitaha sociocultural and political events based around the Waitaki River and valley over the last one hundred and fifty years. One of the major founding political and cultural events within the Waitaki Valley includes the passive resistance march of Te Heke (1877-79), led by Te Maihāroa, in protest against settler land encroachment and Māori grievances against the Crown.1 The concluding segment highlights contemporary political struggles and cultural events along the banks of the Waitaki River, such as the Ocean to Alps (1990) commemorations, celebrating 150 years since the signing of Te Tiriti o Waitangi (Treaty of Waitangi) and Te Heke Ōmāramataka (2012), which was a peace march to honour the mauri (spirit) of the Waitaki river. -
Social Acceptance of Renewable Electricity Developments in New Zealand
SOCIAL ACCEPTANCE OF RENEWABLE ELECTRICITY DEVELOPMENTS IN NEW ZEALAND A report for the Energy Efficiency and Conservation Authority Janet Stephenson and Maria Ioannou Centre for the Study of Agriculture, Food and Environment University of Otago November 2010 1 The Authors Dr Janet Stephenson is a Senior Research Fellow at the Centre for the Study for Agriculture, Food and Environment (CSAFE) at the University of Otago. Maria Ioannou has an MSc in City Design and Social Science, London School of Economics, and has considerable experience in public policy in England and the European Union. She is currently working as a consultant in New Zealand. 2 EXECUTIVE SUMMARY 1. While some renewable electricity generation (REG) developments are clearly contentious, renewable energy is well supported as a concept by the New Zealand public. 2. However this level of generic support is not necessarily carried through to specific development proposals, when those who have an interest are able to consider the actual impacts and trade-offs involved, and to form their personal views accordingly. 3. There has been a falling-away of support for all forms of energy developments between 2004 and 2009, and an apparent increase in people feeling they do not know enough to give an opinion. 4. The highest level of support in public opinion surveys is for wind generation, which is surprising given that other evidence suggests wind is more contentious than the two other most common applications - geothermal and hydro. 5. The NIMBY concept is widely discredited as an explanation for oppositional behaviour. 6. There is no consistent relationship between proximity to a REG development and levels of opposition – this varies greatly with the context 7. -
Meridian Offer Document
Meridian Share Offer INITIAL PUBLIC OFFERING OF ORDINARY SHARES IN MERIDIAN ENERGY LIMITED Investment Statement and Prospectus 20 September 2013 THE FINANCIAL MARKETS AUTHORITY You should seek your own taxation advice on the REGULATES CONDUCT IN FINANCIAL MARKETS implications of an investment in the securities offered under this Offer Document. The Financial Markets Authority regulates Important conduct in New Zealand’s financial markets. The This Offer Document may not be distributed Financial Markets Authority’s main objective is to to or relied upon by persons in the United promote and facilitate the development of fair, States unless it is part of the International Information efficient, and transparent financial markets. Offering Memorandum used in connection with the Institutional Offer. See 1.4 Answers For more information about investing, go to to Important Questions for certain important http://www.fma.govt.nz. selling restrictions. (The information in this section is FINANCIAL ADVISERS CAN HELP YOU MAKE required under the Securities Act 1978.) NO GUARANTEE INVESTMENT DECISIONS No person guarantees the securities offered under Investment decisions are very important. Using a financial adviser cannot prevent you from this Offer Document. No person warrants or They often have long-term consequences. losing money, but it should be able to help you guarantees the performance of the securities or make better investment decisions. Read all documents carefully. any return on any investments made pursuant to Ask questions. Seek advice before Financial advisers are regulated by the Financial this Offer Document. Markets Authority to varying levels, depending on committing yourself. the type of adviser and the nature of the services REGISTRATION they provide. -
Statement of Evidence of Kenneth George Gimblett
Before the Hearings Commissioners at Christchurch in the matter of: a submission on the proposed Canterbury Land and Water Regional Plan under the Resource Management Act 1991 to: Environment Canterbury submitter Hunter Downs Irrigation Statement of evidence of Kenneth George Gimblett Date: 2 April 2013 2 STATEMENT OF EVIDENCE OF KENNETH GEORGE GIMBLETT INTRODUCTION 1 My full name is Kenneth (Ken) George Gimblett. 2 I am a Director and Senior Resource Management Planner with the environmental consultancy firm Boffa Miskell Limited based in the firm’s Christchurch office. I joined Boffa Miskell in 1998, prior to which I was a senior policy planner with Christchurch City Council. 3 I hold the qualification of Bachelor of Regional Planning (Hons) and I am a member of the New Zealand Planning Institute. I have 25 years experience in planning and resource management, gained both in New Zealand and the UK. As a consultant I have provided advice on a broad range of developments and resource management issues to a range of clients, a number involving presenting expert planning evidence before councils and the Environment Court. I also have extensive experience acting as an accredited independent hearings commissioner. 4 Much of my professional work has been focused in the South Island and has included both advising on plan preparation as well as involvement in complex industrial, infrastructure and energy related proposals. In the Canterbury region I had significant involvement with undertaking environmental effects assessment (AEE) and preparing consent applications in respect of Meridian Energy Limited’s (Meridian’s) Project Aqua hydro proposal and the North Bank Hydro Project electricity concepts in the lower Waitaki River catchment, and the more recent Project Hurunui Windfarm in north Canterbury. -
Developments in Renewable Energy Law and Policy in New Zealand Kenneth Palmer and David Grinlinton*
Developments in Renewable Energy Law and Policy in New Zealand Kenneth Palmer and David Grinlinton* Introduction Renewable energy uptake has experienced a dramatic increase in the last decade. The Ren21 Renewables 2013 Global Status Report indicates that by the end of 2011 19% of global final energy consumption was provided by renewables. By the end of 2012 renewables comprised more than 26% of global electric generating capacity, and supplied around 21.7% of electricity generated. While the majority source was from hydropower, other renewables such as wind, solar and PV and solar thermal have showed strong growth and, in countries such as the US, Germany, Spain, Italy, India, and China, account for the majority of generation growth.1 Renewable technology is also developing rapidly, with the efficiency of wind, solar PV and thermal, and other renewable sources increasing, and the cost of components such as solar panels and thermal water heating units dropping steadily. So the technology is here and available, with costs falling and some systems approaching parity with traditional electricity generation such as coal, oil and gas. In New Zealand, for example, wind energy is cheap and abundant, and wind farms are economically competitive – without subsidisation – with other forms of electricity generation.2 If subsidies to traditional hydrocarbon-based energy sources were removed it is likely many renewable energy technologies would be even more competitive. The New Zealand government has set a number of energy and greenhouse gas (GHG) emission targets including: 90% of electricity from renewable technologies by 2025, a 10- 20% net reduction of GHG from 1990 levels by 2020, and a 50% reduction by 2050.3 Already around 70% of electricity is produced from renewable sources, and New Zealand came close to achieving its Kyoto commitments in the 2008-12 first commitment period. -
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CHAIRMAN’S AND PROJECT AQUA 20 CHIEF EXECUTIVE’S 2 REPORT Impact and It’s been an implications [extra]ordinary On 29 March 2004, Meridian Energy publicly announced the decision not to proceed with year … Project Aqua. We’ve consented and almost completed construction of our fi rst wind farm; we’ve made signifi cant gains in encouraging energy effi ciency, and we faced claims around our water rights. ENERGY EFFICIENCY 12 EXECUTIVE SUMMARY 6 A key part of the equation [EXTRA]ORDINARY EVENTS Energy effi ciency is an important element in solving New Zealand’s energy supply issues. A four part section reporting on four key aspects of our business. WATER ALLOCATION 16 MERIDIAN’S PURPOSE 24 A national Our goal – to be a “Peak Performing Organisation”. During the year we have done issue a lot of work to develop our purpose further Growing pressure on New Zealand’s precious and ensure that all Meridian staff are united water resources looms as a serious threat to in a common focus. Meridian and to New Zealand’s future electricity supply. STRATEGY AND PERFORMANCE 26 Our challenges, strategies, achievements and progress. OUR OPERATIONS 28 TE ÄPITI 8 Where we’re located in Australasia. An extraordinary asset Te Äpiti is Meridian Energy’s fi rst wind farm, and New Zealand’s largest. The progress made on Te Äpiti has been one of our most signifi cant achievements this year. COVER: MICAH PURTON, FROM TWIZEL AT LAKE PUKAKI. 2 MERIDIAN ENERGY LIMITED REPORT FOR THE YEAR ENDING JUNE 2004 OUR MANAGEMENT TEAM 8 POWERFUL 54 RESPONSIBILITIES 46 THOUGHTS 29 BOARD OF We answer to you.