Manawa says Prime's latest default will not hurt the company further

Manawa says no more pain from Prime default. (Image: NZME)

Fri, 02 May 2025

Manawa Energy says the regulators' move to stop a defaulting retailer from trading will have no further impact on its earnings.In August 2024, Manawa stated that an unnamed electricity retailer had defaulted on its payment obligations to Manawa.It was later revealed that this was Prime Energy.At the time, Manawa downgraded its earnings guidance for the year, attributing around half of the downgrade to the default.In August last year, it issued new guidance for earnings before interest and taxation, depreciation, amortisation and fair value...

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