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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Politics

Pol.is or Poll-ish? Dispute erupts over Auckland at 15 Survey

The results were allegedly never represented as a poll of all Aucklanders.

Dileepa Fonseka 6:47pm

Markets Market Close

US-China détente hopes send Mainfreight up 5%

Harbour Asset Management's Shane Solly says good signs are coming out of Geneva.

Gregor Thompson 5:50pm

US-China détente hopes send Mainfreight up 5%

Energy

Z refuses to comment on Flick Electric closure

If true, the closure will be another blow to competition in the sector.

Ian Llewellyn 3:45pm

Z refuses to comment on Flick Electric closure

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

Sponsored

Active beats passive in tough times

Agile investing responds faster to market shocks and shifts.

Milford

More Markets

Markets Market Close

US-China détente hopes send Mainfreight up 5%

Harbour Asset Management's Shane Solly says good signs are coming out of Geneva.

Gregor Thompson 5:50pm

Property

Summerset launches $100m bond offer

Summerset Group has launched a six-year bond offer to fund the repayment of previously issued debt. The retirement village and aged care company told the market on Monday that it is raising up to $100 million, with the potential to accept an additional $50m in oversubscriptions. ...

Staff reporters 10:15am