Mercury delivers earnings, but little in new generation commitments

Buying Tilt's wind assets boosted Mercury's bottom line, but what about the future? (Image: Tilt)

Wed, 17 Aug 2022

Mercury Energy’s strategy to expand by buying assets has delivered higher profit and dividends for the company.However, yesterday's annual results announcement was light on detail about new generation prospects when indicators, such as high future electricity prices, point to a growing need for the major companies to commit to new projects.The report shows that in 12 months, Mercury went from having no wind farm generation to being the largest wind farmer in the country. Likewise, it overtook Genesis Energy as the gentailer (gene...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Retail

Bapcor flags possible NZ asset writedown

The auto parts group is reviewing New Zealand operations after profit slump.

Graham Skellern 5:00am

Economy

RBNZ says risks linked to new mortgage lending contained

House prices near the top of RBNZ's range of sustainable estimates.

Staff reporters 5:00am

RBNZ says risks linked to new mortgage lending contained

Law & Regulation

Climate policy changes show 'drift rather than discipline'

The role of the Climate Change Commission will be reduced under climate law changes.

Greg Hurrell 5:00am

Climate policy changes show 'drift rather than discipline'

Sponsored

Health insurance proving a valuable negotiating tool for Kiwi businesses

More employers see health insurance as key to staff wellbeing.

Moneyfit

Sponsored

Move-in ready offices: How business are rethinking workspace

Businesses want agility – and office space is evolving fast

Sponsored by Precinct Properties

More Energy

Policy

Seymour promotes coal, nuclear, and privatisation

Burning some coal to enable more renewable power "not a bad deal".

Pattrick Smellie 05 Nov 2025

News in Brief

Genesis gets fast-track greenlight for Tekapo power scheme

Genesis Energy has received fast-track approval to continue operating and maintaining the Tekapo hydro power scheme.It lodged the fast-track application in April 2025 for the scheme, which includes Tekapo A and B power stations and substations, and the canal system. Genesis has o...

Staff reporters 03 Nov 2025