Mercury trims forecast, warns of further Turitea delays

Staff reporters
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...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Rocket Lab close to deal with US acquisition company — report
Staff reporters | Mon, 01 Mar 2021

Deal to take company public would reportedly value the US-New Zealand start up at US$4.1 billion.

Change self-isolation payments - Eaqub
Victoria Young | Mon, 01 Mar 2021

Shamubeel Eaqub says leave support payments should be linked to income if we want people to stay home.

Markets Wake Up Call
Auckland locked down again; bond markets cool down
Staff reporters | Mon, 01 Mar 2021

The NZ dollar is down sharply this morning after a shift back to ‘haven’ currencies and a drop in global bond yields over the weekend.

ASX in NZ: Capitalising on our ‘liberty of distance’

The tyranny of distance had prepared New Zealand corporate leaders well for the pandemic. We were already adept at running global businesses from afar, and as the world locked down, our remoteness became somewhat moot and the rest of the world began operating almost as remotely as we had always done.

How consumers can give local businesses a boost

Why this holiday is different for New Zealand SMEs.