Genesis weathers a tough winter and comes out on top

The future of Huntly is key to Genesis Energy and NZ's energy situation. (Image: NZME)

Fri, 21 Feb 2025

Genesis Energy navigated last winter’s energy crunch to report increased earnings and profit for the first half of the 2025 financial year.Looking to the future, the chief executive of the New Zealand Exchange-listed company, Malcolm Johns, said it had no confidence in the gas market after taking a $59 million hit from it last year.It planned to rely more on coal in its thermal units and, hopefully, move to biomass in the future, as well as develop more renewable generation.Difficult and challengingDuring the reporting period, the increas...

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