Energy

Dry weather cuts Mercury's earnings

Ian Llewellyn
Fri, 28 Jan 2022

Dry weather cuts Mercury's earnings
Mercury's Waikato river dams have reduced generation due to dry weather. (Image: supplied)
Ian Llewellyn
Fri, 28 Jan 2022
Mercury Energy has downgraded its earnings guidance due to a decrease in generation following dry weather.It revised guidance for earnings before interest, tax, depreciation, amortisation and fair value movements (ebitdaf) for the year ended June 2022 from $590 million to $570m.This reflects an expected 150 gigawatt hours (GWh) decrease in full year hydro generation to 3,750 GWh due to dry weather in the Taupo catchment since the end of the first quarter of the financial year.Mercury is currently completing the takeover of Trustpower’s re...

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