Mercury boosts forecast by $30m on strong trading, storage

Mercury boosts forecast by $30m on strong trading, storage
Gavin Evans
Mercury NZ has boosted its full-year earnings guidance by $30 million due to a recovery in its hydro storage and “strong” recent trading.The company, which operates nine power stations on the Waikato River, said storage in Lake Taupō climbed above average in November for the first time since May and increased by the equivalent of 201 gigawatt-hours of electricity production during the December quarter.Accordingly, it lifted its forecast hydro production for the year ending June 30 to 3,900 GWh, from 3,700 GWh — reversing a cut...

More Infrastructure

Opening day congestion for untolled Penlink highway – NZTA
Infrastructure

Opening day congestion for untolled Penlink highway – NZTA

The road should be redesigned if the Government chooses not to toll, agency said.

Oliver Lewis 26 Jul 2024
Downtown car park building legal challenge 'resolved'
Infrastructure

Downtown car park building legal challenge 'resolved'

Society challenging the sale to Precinct raised 0.4% of its High Court funding target.

Oliver Lewis 25 Jul 2024
Govt to fight receivers over $30m Tui oil field tax credit
Infrastructure

Govt to fight receivers over $30m Tui oil field tax credit

Crown bid to have liquidators cover decommissioning costs is subject to approval.

Victoria Young 24 Jul 2024
Govt agrees 'in principle' to $10b worth of Northland roading PPPs
Infrastructure

Govt agrees 'in principle' to $10b worth of Northland roading PPPs

The Northland expressway project could be one of the first PPPs out of the gate.

Dileepa Fonseka 23 Jul 2024