Energy crunch dilemma for Genesis – cheap and dirty or expensive and risky

How to fuel the Huntly power station is the big question hanging over Genesis. (Image: NZME)

Fri, 23 Aug 2024

Genesis Energy chief executive Malcolm Johns says the country and his company will have to make a choice over the next few years to get through the energy crunch: to use cheaper, dirtier fuel or more expensive, cleaner fuel.Genesis released its annual results for the financial year on Thursday with reported earnings (ebitdaf) of $407.2 million with net profit after tax (NPAT) of $131.1m. This compares with earnings of $523.5m and net profit of 195.7m in the previous year, down 22% and 33%, respectively.A lot of the hit was due to higher fuel co...

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