Source: Federated Farmers
Tech – New Zealanders concerned about AI harm and impact on society, new research shows
Source: InternetNZ
- New Zealanders' use of AI and the concerns about its impact.
- How much time we spend online for personal use (outside of work), and what we do with that time.
- Which social media apps we are using.
- Specific concerns we have about our lives being increasingly spent online.
Health – Growing demand shows addictions sector needs more investment
An increase in people accessing specialist addiction treatment highlights the hard work the sector is doing despite a longstanding lack of funding, the NZ Drug Foundation says.
A new monitoring report released by Te Hiringa Mahara – Mental Health and Wellbeing Commission today shows an increase in people accessing specialist addiction treatment, with over 3,000 more people accessing these services in 2024/25 compared to the previous year.
Drug Foundation Executive Director Sarah Helm says the increase is positive, but more investment is needed to meet the need in the community.
“It’s remarkable to see the heroic work that the sector is doing despite being underfunded for decades,” Helm says.
“We can’t solve issues like the big increase in methamphetamine harm without a step change in investment in addiction support. It’s desperately needed.”
Helm points out that despite the increase in people accessing services, the number of declined referrals to specialist addiction services is also increasing.
“The increase in declined referrals is concerning and it’s important we understand what is driving this.”
The report also shows more New Zealanders are accessing drug harm reduction information and support online, highlighting the importance of platforms like The Level.
The number of people accessing substance use support online has more than doubled in the last five years, from an estimated 73,326 people in 2020/21 to 197,494 in 2024/25.
Of that number, 174,818 people accessed information via The Level, the NZ Drug Foundation’s online harm reduction platform, in 2024/25.
Helm says the significant growth demonstrates that people who use drugs want to know how they can stay safer.
“Getting trustworthy information and advice in front of people early, no matter where they sit on the spectrum of drug use, is a no-brainer. It saves lives, prevents people from developing more severe issues, and saves the health system money.”
Helm says that if people can access information and support early enough, many substance use issues can be addressed at home or with whānau support, and don’t necessarily need intensive specialist support.
“We’ve focused hard on improving the self-help sections of The Level, with lots more planned this year, so it’s pleasing to see the growth in people accessing this crucial information.”
Notes:
Find the latest report from Te Hiringa Mahara – Mental Health and Wellbeing Commission on their website: https://www.mhwc.govt.nz/news-and-resources/mental-health-and-addiction-service-monitoring-2026-downloads
The Level combines research with real-life experiences from people who use drugs in New Zealand and provides relevant, trustworthy, and easy to understand support and advice. It is operated by the NZ Drug Foundation.
Tech Security – What to Do After a Data Breach
A data breach is when an unauthorised third-party accesses sensitive or confidential information. Think: login details, NHI and IRD numbers, or financial information. Breaches can stem from cyberattacks, like phishing or malware, but also from insider threats or system flaws.
If your data was exposed through a breach the risks are largely the same. If only your email or phone number are involved, the impact may be limited to spam, scams, or unwanted contact. But if financial details or NHI numbers are exposed, you could face stolen funds, credit damage, and even identity theft.
1. Confirm if your data was compromised
When a company suffers a data breach, they’re legally required to notify affected customers. But even without an official notice, unusual account activity may signal trouble. That’s why it’s important to check proactively for signs of a data breach instead of waiting for confirmation.
· Review your credit reports: Scan your credit reports for unfamiliar accounts or inquiries.
· Watch for suspicious login alerts.
· Try a data breach checker: Plug your information into a breach detection tool to see if your data has surfaced on the dark web – the hidden part of the internet where leaked data is often posted or sold.
2. Determine what data was exposed
Different kinds of data exposure lead to different risks.
· Personally identifiable information (PII): Exposure of PII, like your full name, address, or birth date can make you a more vulnerable scam target.
· NHI number: This is a significant security concern, as an NHI number can be exploited for identity theft, insurance claims, and phishing scams.
· IRD number: This is among the most serious breaches, since IRD number can be used for identity theft and fraud.
· Email address: If your email appears in a data breach, you’re likely to see an uptick in spam and phishing messages.
· Passwords: If your password or account credentials are leaked, you are at heightened risk of account takeovers.
· Credit card details: If your credit card details are exposed in a data breach, you’re at risk of credit card fraud.
3. Secure vulnerable accounts
After a data breach, attackers may try to break into your accounts or lock you out of them.
· Change your passwords.
· Set up multi-factor authentication (MFA).
· Remove unfamiliar devices.
4. Freeze or lock your credit
If highly sensitive information like your IRD number is exposed in a data breach, criminals could try to open new lines of credit in your name. Placing a credit freeze on your credit reports prevents lenders from accessing them.
5. Set up fraud alerts
Fraud alerts give lenders a heads-up that you may be a victim of fraud when they run your credit. If you were involved in a breach or suspect you may have been, request the standard one-year fraud alert. If you actually fell victim to identity theft, look into an extended fraud alert, which protects you for seven years.
6. Monitor your reports
Continue to monitor your reports closely for at least a year after a data breach – potentially longer if you notice suspicious activity.
· Bank statements: Review transactions for unauthorised or unfamiliar charges.
· Credit reports: Look for unfamiliar accounts or credit checks that could signal fraud.
7. Warn people you know
If your accounts or contact details were exposed in a data breach, attackers may try to use that information to scam your friends, family, or coworkers. To reduce the risk, give your contacts a heads-up so they know to be cautious with unusual messages. Remind them not to click suspicious links, download unexpected attachments, or share sensitive information without confirming it’s really from you. A quick warning can go a long way.
How to protect yourself from future data breaches
No one can fully guarantee protection from a data breach, but good security habits can reduce your risk and limit the damage if one occurs.The key is to protect your accounts, share less information, and stay alert for scams:
· Use multiple email accounts.
· Strengthen your passwords: Create unique, complex passwords for every account.
· Look out for signs of scams.
· Verify before you click.
· Limit information sharing.
· Sign up for identity theft protection.
Economy – Consultation opens on keeping cash local – Reserve Bank
25 February 2026 – We are asking the public for feedback on a proposal that banks must provide a minimum level of cash services so people, businesses, and community groups can withdraw cash, deposit cash, and get change free-of-charge close to where they live.
Public consultation on this cash services standard opens 25 February 2026 for 6 weeks, closing Friday 10 April 2026.
We propose that people living in urban areas should face only a walkable distance to withdraw cash, deposit cash or get change, while people living rurally should only face a reasonable driving distance. People should not have to face unreasonable wait times either and cash services should be free of charge. We want to know if New Zealanders agree with how we are approaching this.
“We believe banks must provide cash services to customers, free-of-charge, because cash is an essential part of a customer's relationship with their bank. People put money into their bank accounts and expect to be able to convert it easily, quickly and free, into cash and vice versa,” says Ian Woolford, Director of Money and Cash.
“The public expect banks to provide cash services to them, but banks have been steadily reducing points of access for their customers to get cash, bank cash or get change, especially in rural areas. We want this to change, and we are open as to how. This consultation proposes one way to make this happen.
“District maps show what this proposal could mean for each of the 66 territorial authorities (excluding the Chatham Islands). It assumes banks share cash infrastructure, as they already do at the 5 remaining 'New Zealand Bankers' Association regional banking hubs'.
“We estimate the benefits of our proposal far outweigh the costs, as giving the public an appropriate level of cash services provides benefits to New Zealand of $2.83 billion per annum, at an additional annual cost to banks of around $104 million. This cost is negligible when compared to the more than $10 billion annual pre-tax profits earned together by the banking sector,” says Mr Woolford.
Many countries have or are introducing similar new laws to ensure adequate access to cash services, including the UK, Ireland, and the Netherlands.
“Cash benefits society, as it is used for economic, social and cultural reasons, and as the steward of cash we are focussed on ensuring the cash system is healthy and available,” says Mr Woolford.
Research shows 72% of small businesses would be adversely affected if cash was unavailable as a means of payment. Our own survey tells us that over 80% of adults use cash sometimes, over half (56%) store cash and 8% rely on cash as their sole means of payment.
More information
Learn more about the public consultation: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=99d5bdd1e6&e=f3c68946f8
Download our consultation materials on the CitizenSpace website: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=8545551296&e=f3c68946f8
Cards and convenience reign supreme in Aotearoa | research by Xero: https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=d05c229929&e=f3c68946f8
2023 cash use survey (PDF, 1 MB): https://govt.us20.list-manage.com/track/click?u=bd316aa7ee4f5679c56377819&id=b0dc7aff96&e=f3c68946f8
In this report, we asked respondents how many times they had used cash to pay for everyday items in the past 7 days. We used the results to measure and estimate the proportion of people who use cash at least occasionally.
WEL Networks extends partnership with Downer and Ventia
Source: WEL Networks
Fire and Emergency New Zealand and the Department of Conservation renew their Service Agreement
Source: Fire and Emergency New Zealand
Advocacy – Gaza-based Humanitarian organisations petition Israeli High Court as closure deadline approaches – Oxfam
Source: Oxfam Aotearoa
Energy Sector – Meridian rebounds off back of near-record inflows
25 February 2026 – Meridian Energy has reported operating cash flows of $336 million for the six months ending 31 December 2025. This compares to $50 million in the same period last year when the company’s financial performance was impacted by the cost of hedge and demand response contracts required to support customers and electricity security through the record drought of Winter 2024.
The company recorded a net profit after tax (NPAT) of $227 million, compared to a net loss after tax of $121 million for the first half of FY25. EBITDAF was $506 million, up from $257 million, while underlying NPAT increased from -$5 million to $143 million. The latter two are both non-GAAP measures.
Meridian’s results for 1H FY26 were fuelled by a $264m (59%) year-on-year increase in energy margin – the result of record wind generation and the second-best lake inflows on record. These conditions put downward pressure on wholesale electricity prices, with daily spot prices averaging $84 per MWh over the six months to 31 December and falling to an average of $12 per MWh in December. The company also achieved record retail sales volumes, up 12% on last year.
Meridian Chief Executive Mike Roan says this is a strong result and a welcome change from the hit the company took last year after committing significant funds to help support Aotearoa’s security of supply through Winter 2024.
“A core part of our business is to manage weather variability, so we were pleased Mother Nature came to the party in the first half of the year. These conditions helped deliver a strong financial result and a period of extremely low wholesale prices. This is a sign of a market that continues to function well.”
“At the same time, the job is not done. That’s why we continue to work hard to improve the electricity system and what it offers consumers. Over the past six months we have advanced our development pipeline, enhanced the performance of existing assets, maintained our pursuit of contingent storage and taken steps towards making electricity more affordable for Kiwi homes and businesses. These remain our top priorities and this strong result will help us deliver them more quickly,” says Mike Roan.
The Meridian Board has declared an interim ordinary dividend of 6.40 cents per share, up from 6.15 cents per share in the first half of FY25. The dividend reinvestment plan will apply to this interim dividend at a 2% discount.
Half-Year Highlights
Meridian has continued to move at pace towards its goal of having seven projects in construction ready between 2023 and 2030. With Harapaki Wind Farm and the Ruakākā BESS completed and operational, construction is progressing on the Ruakākā and Te Rahui solar farms. Ruakākā is on schedule for first power in November and the first stage of Te Rahui – a 50/50 joint venture with Nova, who is leading construction – is scheduled for final power by mid-2027.
The company is targeting final investment decisions on three other projects this calendar year: Mt Munro Wind Farm in the Wairarapa and the repowering of the Te Rere Hau Wind Farm in the Manawatū and the second stage of the Te Rahui solar farm. Meridian also expects four consenting outcomes by mid-2026: Swannanoa Solar (200 MW), Waikato Solar (100 MW), Manawatu Solar (100 MW) and the reconsenting of the Waitaki Power Scheme.
“Meridian is committed to doing its share of the heavy lifting required to give Kiwis cheaper power and fuel the growth of our economy. Our team has done an excellent job of building momentum in our pipeline. We now hold 8.0 TWh of secured development options and a further 7.3 TWh of advanced prospects – more than a third of New Zealand’s current electricity demand.”
“While we have made significant progress in advancing generation developments to offset the reduction of domestic gas, we need more firming capacity to restore the energy balance that New Zealand has historically enjoyed. Meridian has adjusted elements of our strategy to reflect and prioritise this, such as exploring hydro development options for the first time in decades.”
Meridian achieved record retail sales volumes, boosted by the acquisition of Flick customers last August, increasing its residential market share from 17.5% to 19.5%. The migration of residential and commercial customers to Meridian’s new Kraken platform has also made progress. More than 75,000 customers have now been migrated and the company is on track to complete all mass-market customer migrations in the middle of the calendar year and the remaining corporate and industrial customer accounts by late 2026.
“New Zealand has a highly competitive retail electricity market, and it’s vital that we invest in technology that will enable us to innovate for all customers. People want more affordable energy and an increasing range of options for how and when they use it. We’re already ramping up the rollout of our Smart Hot Water product, which gives discounts to customers for allowing us to control when their cylinder heats so we can take pressure off the grid in peak periods. Our competitive solar buyback rates and EV plans are also helping Kiwis reduce their overall energy bills,” says Mike Roan.
The Generation team has excelled in the first half of FY26, maximising plant availability to enable the company to manage high inflows and wind speeds while also carrying out significant maintenance projects. These include a rotor replacement at Ōhau C and multiple large-scale projects at Manapōuri. We’re lucky to have a world class generation team who are passionate about the role our assets play in supporting Kiwi homes and businesses. The team is making increasing use of AI and other technologies to maximise plant availability. This is something we believe has huge potential.”
Meridian has received further endorsement of its sustainability performance. In February, the company secured its best result to date in the S&P Global Corporate Sustainability Assessment, achieving an S&P Global Sustainability Yearbook 2026 distinction – Top 10% score globally in our sector, with a score of 83 out of 100. The CSA is used to determine Dow Jones Best-in-Class Indices inclusion, due in April 2026. “It’s currently our tenth successive year in this Index and the placement is hard won. The Index provides customers, communities and investors independent validation that Meridian meets globally relevant environmental, social and governance (ESG) standards right across our business operations. Ultimately that translates into good outcomes for people and planet and is a core element of Meridian’s competitive advantage,” says Mike Roan.
|
MERIDIAN FINANCIAL RESULTS FOR SIX MONTHS ENDING 31 DECEMBER 2025 |
||
|
Segment Earnings Statement ($m) |
2025 |
2024 |
|
Energy margin |
708 |
444 |
|
Other revenue |
24 |
26 |
|
Hosting expense |
(1) |
(2) |
|
Energy transmission expense |
(45) |
(37) |
|
Electricity metering expenses |
(27) |
(26) |
|
Employee and other operating expenses |
(153) |
(148) |
|
EBITDAF |
506 |
257 |
|
Depreciation and amortisation |
(261) |
(225) |
|
Asset related adjustments |
(3) |
(8) |
|
Unrealised changes in fair value of energy hedges |
124 |
(143) |
|
Net finance costs |
(45) |
(38) |
|
Net change in fair value of treasury hedges |
(4) |
(11) |
|
Net profit before tax |
317 |
(168) |
|
Income tax expense |
(90) |
47 |
|
Net profit after tax |
227 |
(121) |
|
|
||
|
Underlying net profit after tax |
2025 |
2024 |
|
Net profit after tax |
227 |
(121) |
|
Underlying adjustments |
||
|
Hedging instruments |
||
|
Unrealised changes in fair value of energy hedges |
(124) |
143 |
|
Net change in fair value of treasury hedges |
4 |
11 |
|
Premiums paid on electricity options net of interest |
(3) |
(4) |
|
Assets |
||
|
Asset related adjustments |
3 |
8 |
|
Total adjustments before tax |
(120) |
158 |
|
Taxation |
||
|
Tax effect of above adjustments |
36 |
(42) |
|
Underlying net profit after tax |
143 |
(5) |
