Mercury points to peaking gains as FY production drops 10%

Wed, 17 Jul 2019

By Gavin Evans July 18 (BusinessDesk) - Mercury NZ says it relied on the peaking capacity of its Waikato hydro generation to capture high wholesale power prices in the June quarter. The country’s third-largest power retailer said its hydro dams and geothermal plants earned an average $117.15 a megawatt-hour in the period, up from $79.84/MWh in the June quarter of 2018. Production fell to 1,527 gigawatt-hours, 21 percent less than a year earlier, as dry weather in the North Island slashed the firm’s hydro output to 796 GWh – 422 GWh les...

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