Manawa says it was hit by extreme weather and market conditions

Manawa says it was hit by extreme weather and market conditions
Manawa's hydro storage was down to 33% of average at one point. (Image: NZME)
Ian Llewellyn
Manawa Energy says it was hit by extreme weather and market conditions in July and August.The company’s operating report for the second quarter covering July to September said it was exposed to very high wholesale spot prices, driven by the constraint in renewable fuel and very high gas prices.Manawa did not quantify the impact with the second quarter financial results due in early November.The conditions were very dry and calm across July and the first half of August, followed by dry May and June. These still wind conditions and reduced...

More Markets

Xero 'delivers on strategy' and records 51% earnings rise
Markets

Xero 'delivers on strategy' and records 51% earnings rise

Cloud accounting company also exceeded popular rule-of-40 metric.

Fonterra not natural owner of consumer business: McBride
Primary Sector

Fonterra not natural owner of consumer business: McBride

Its annual meeting is being held in New Plymouth on Thursday.

Infratil says Longroad faces US election uncertainty
Markets

Infratil says Longroad faces US election uncertainty

Infratil plunges to first-half loss due to One NZ revaluation.

Another year's grace for climate reporting measures
Markets

Another year's grace for climate reporting measures

The Warehouse Group was not keen on the delay.