Market will decide what part Huntly power station plays in energy security, says Genesis

Market will decide what part Huntly power station plays in energy security, says Genesis
A breakdown at the Huntly power station cost Genesis. (Image: Getty)
Ian Llewellyn
The market will decide what the future of the Huntly power station will be and what role it plays in keeping the lights on in the coming year, Genesis Energy chief executive Malcolm Johns said.On Thursday morning, Genesis reported half-yearly earnings were hit by higher costs, lower hydro inflows and a long outage at the 400-megawatt Unit 5 at Huntly.For the six months ended Dec 31, Genesis declared earnings (ebitdaf) of $202 million, down 32% on the corresponding period. The reduced earnings meant net profit after tax was lower at $38m, a 74%...

More Markets

NZ sharemarket up 0.1% on flat trading day
Markets Market close

NZ sharemarket up 0.1% on flat trading day

The S&P/NZX 50 Index closed at 11,790.92, up 14.18 points or 0.12%.

Advent International eyes NZ deals with Aussie outpost
Markets

Advent International eyes NZ deals with Aussie outpost

US private equity giant says NZ key market for growth.

These shares are 'priced for awful'
Markets

These shares are 'priced for awful'

Kathmandu, SkyCity and Fletcher shares are under pressure. Some are taking the plunge.