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)

Mon, 14 Oct 2024

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...

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