water = money, maybe, for meridian

This is classic. Do a feasibility study after you have applied to take water - shouldn't it be the other way round?

"Meridian Energy Ltd is preparing for a major engineering feasibility study into its proposed Waitaki River north bank tunnel power scheme to finalise the design, derive an up-to-date costing and determine its commercial viability."

"External relations manager Clare Shaw yesterday said the study would provide Meridian Energy with a clearer view of the commercial viability of the north bank scheme."

"Carrying out the full study will depend on issues such as a decision from the Environment Court on whether water should be granted for the scheme.

The study's first stage will look at the viability and economics of the project, identify a preferred layout and pursue land-use resource-consent applications with the Waimate District Council.

The decision to proceed with the study's second stage will be dependent on the Environment Court's decision and the viability and economics of the project determined during stage 1."

So meridian haven't even worked out if the proposed descecration of the river would be 'economically or commercially viable'. Doesn't that seem strange? Are they already thinking of their next overseas owner? How can you put forward applications for water take when you cannot say whether it is economically viable? And the whole 'economic viability' arguement is bogus anyway - if you set something up to be economically viable, in todays economic environment - what happens when that economic environment changes? As it always does.