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

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)
Ian Llewellyn
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...

More Markets

Ebos buys Vital Petfoods assets from receiver
Markets

Ebos buys Vital Petfoods assets from receiver

Distressed assets have been snapped up by the pet food maker.

Denise McNabb 18 Apr 2025
Tourism Holdings and inflation updates drive NZX up
Markets Market close

Tourism Holdings and inflation updates drive NZX up

Tourism Holdings could be one of the most directly impacted shares of the US tariffs.

Tom Raynel 17 Apr 2025
Heartland Bank accountant fined over insider trading
Markets

Heartland Bank accountant fined over insider trading

A former Heartland Bank accountant has been sentenced to six months’ home detention and ordered to pay a fine after pleading guilty on three charges relating to insider trading.Kevin Young, a former treasury accountant with Heartland Bank, purchased Heartland Group Holdings Limit...

Staff reporters 17 Apr 2025
Potential Mainland buyers may soon tap regulators
Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025