Mercury Energy has a wet, wet, wet result

An overflowing Lake Taupō brought record generation for Mercury, but at a lower price. (Image: Mercury)

Tue, 21 Feb 2023

Mercury New Zealand’s half year results were all about rain – too much now and fears of a lack of it in the future.There was record rainfall in the Taupō catchment in the six months to Dec 31, 2022, with hydro production up 852 gigawatt hours (GWh) to 2,735 GWh. The rain was so heavy and consistent that Lake Taupō was always near its maximum allowable level, and 675 GWh’s worth of water had to be spilled down the Waikato river.As a result, Mercury generated more power than ever as recent additions to its wind-farm portfolio al...

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