Contact Energy wants to raise the level of Lake Roxburgh 60cm to boost storage and power generation.
The company has applied to the Otago Regional Council for resource consent to increase the lake's maximum operating level from 132m above sea level to 132.6m, communications manager Jonathan Hill said this week.
The dam was designed to operate at the higher level and did so about 30 years ago, he said.
"The events of the last few months have highlighted there is a need for larger amounts of hydro storage."
Public submissions close on March 13.
