Manawa profit masks a difficult time

Manawa profit masks a difficult time
Manawa boss David Prentice is focused on the future after a difficult six months. (Image: Manawa)
Ian Llewellyn
Manawa Energy’s declaration of a 239% increase in net profit will inflame those calling for windfall taxes, but this would ignore what was a difficult six months for the company.It reported a net profit after tax of $391 million for the six months to Sept 30. This compares with $115m in the previous comparable period.This was almost entirely due to the sale of its retail business and the money is partly being used to fund new generation.This rise was driven by the one-off sale of Trustpower’s retail business to Mercury. After the de...

More Energy

Contact Energy chief fires election-year warning
Markets

Contact Energy chief fires election-year warning

Fuge urges stability as Contact leans into a big build.

Contact sets out aggressive growth push
Markets

Contact sets out aggressive growth push

Contact is relying on demand increase to fund expansion.

Ian Llewellyn 25 Nov 2025
Another solar farm gets the nod from Genesis
Markets

Another solar farm gets the nod from Genesis

Genesis Energy has approved the construction of the Edgecumbe Solar Farm in the Bay of Plenty, marking its second major solar commitment in as many months.The company made a final investment decision (FID) on the 136 megawatt peak (MWp) farm, clearing the way for work to begin sh...

Ian Llewellyn 24 Nov 2025
Industry signals 5PJ gas switch-off potential
Energy

Industry signals 5PJ gas switch-off potential

Policy, cost and network uncertainties are all major constraints to make the switch.

Ian Llewellyn 24 Nov 2025