Manawa Energy blames defaulting retail company for earnings guidance downgrade

Manawa Energy is dealing with a defaulting retailer and difficult generation conditions. (Image: Manawa)

Thu, 08 Aug 2024

Manawa Energy on Thursday terminated its supply agreement with an unnamed electricity retailer after the retailer defaulted on its payments to the generator.The company has downgraded its earnings guidance for the year and attributes around half of the downgrade to the default.Manawa has acted as a wholesale intermediary for the retail company. It issued new guidance for earnings before interest and taxation, depreciation, amortisation and fair value adjustments (ebitdaf) for the March 31, 2025, year to be between $95 million and $115m.&nb...

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