Hydro boost for Genesis as it readies for winter

Genesis is wondering how to manage and pay for the Huntly power station. (Image: Genesis)

Mon, 27 Feb 2023

Wet weather helped boost Genesis Energy’s hydro generation and profit as the need to fire up the more expensive Huntly coal and gas generation was reduced.However, the company’s bosses are already wondering how to manage and pay for Huntly amid fears that there will not be enough generation on line to meet peak-demand surges.In the six months to Dec 31, 2022, Genesis reported first-half earnings before interest, tax, depreciation, amortisation and financial instruments (Ebitdaf) of $298 million, an increase of 42% from $210m in the...

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