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

What will ministers tell electricity bosses?
Policy Analysis

What will ministers tell electricity bosses?

The urge for electricity market reform is strong, but needs to solve the right problems.

Pattrick Smellie 11 Sep 2025
Watts to challenge gentailers on 2026 'energy security'
Energy

Watts to challenge gentailers on 2026 'energy security'

Minister for Energy Simon Watts spoke at the Climate Change & Business Conference.

Pattrick Smellie 10 Sep 2025
Transpower to spend $1.1b on Cook Strait link upgrade
Infrastructure

Transpower to spend $1.1b on Cook Strait link upgrade

Transpower plans to spend $1.1 billion on upgrading the electricity link between the North and South Islands.The state-owned power grid operator said it had applied to the Commerce Commission for approval to invest in the High Voltage Direct Current (HVDC) link.The proposal inclu...

Staff reporters 09 Sep 2025
Govt seeks list of 20 businesses to get off gas
Energy Exclusive

Govt seeks list of 20 businesses to get off gas

As supply crunch continues, Simon Watts says: 'All options are on the table.'

Dileepa Fonseka 08 Sep 2025