Mercury trims forecast, warns of further Turitea delays

Tue, 23 Feb 2021

Mercury NZ has sliced $15 million from its full-year earnings guidance due to a lack of rain in its Taupō catchment since mid-January.The company, which today reported a 14% lift in half-year operating earnings, said low rainfall means its hydro generation is likely to be about 100 gigawatt-hours less than it forecast a month ago. Wholesale electricity prices are also expected to remain elevated for the rest of the year.It is now expecting to report earnings before interest, tax, depreciation, amortisation and changes in financial instruments o...

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