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

Methanex returns to production
Energy

Methanex returns to production

Rain, higher lake levels and generation moves means the methanol producer has reopened.

Solar still on the rise, Ecotricity says
Markets

Solar still on the rise, Ecotricity says

Commercial solar generation is up almost 300%.

Ian Llewellyn 03 Jul 2025
Genesis looks at expansion of Huntly power station
Energy

Genesis looks at expansion of Huntly power station

Market being tested for risk investment appetite. 

Ian Llewellyn 01 Jul 2025
Winter 2026 energy shortage warning confirmed
Energy

Winter 2026 energy shortage warning confirmed

Gas has declined even further, but so has industrial demand.

Ian Llewellyn 30 Jun 2025