Dry weather cuts Mercury's earnings

Dry weather cuts Mercury's earnings
Mercury's Waikato river dams have reduced generation due to dry weather. (Image: supplied)
Ian Llewellyn
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...

More Energy

Green light for solar farm near Greytown, Wairarapa
Law & Regulation

Green light for solar farm near Greytown, Wairarapa

Far North Solar Farm and the local council still need to work out conditions.

Greg Hurrell 31 Oct 2025
Genesis expands solar pipeline with new Waikato project
News in Brief

Genesis expands solar pipeline with new Waikato project

Genesis Energy has announced plans to acquire and develop a solar farm in Waikato from PGP, an international solar farm developer.The consented site is at Rangiriri, between Auckland and Transpower’s planned new substation at Glen Murray and close to Genesis’ 200-megawatt-hour (M...

Ian Llewellyn 30 Oct 2025
Contact Energy expands global investor base
Markets

Contact Energy expands global investor base

Contact Energy priced an inaugural €500 million (NZ$1.01b) 7-year senior bond under its Euro Medium Term Note (EMTN) Programme, it said Friday.“This marks a milestone in Contact’s funding strategy, expanding our global investor base and reinforcing our commitment to sustainable f...

Rebecca Howard 24 Oct 2025
Kominik resigns from Electricity Authority, will start review
News in Brief

Kominik resigns from Electricity Authority, will start review

Electricity Authority chair Anna Kominik has announced her resignation but will stay in the job until her successor is found.Energy Minister Simon Watts said Kominik will also start a board-led organisational review of the authority.The announcement follows the Government's r...

Ian Llewellyn 22 Oct 2025