Should Meridian be made to swap hydro for thermal generation?

I was pretty lukewarm about the proposed asset swap in which Meridian would be made to sell some of its South Island hydro generation capacity to Genesis and Genesis to sell some of its North Island thermal generation to Meridian, but then I saw this story:

Meridian Energy faces a fight to preserve its green branding following recommendations that it be made to own a North Island natural gas-fired power station.

Of course, a straight swap of assets will do nothing to change the total carbon emissions from electricity generation in New Zealand. What might change, however, is the ability for Meridian to suggest that consumers can reduce their own carbon footprint by buying their electricity from Meridian.