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

All is not necessarily lost for Pacific Edge – Forsyth Barr
Markets

All is not necessarily lost for Pacific Edge – Forsyth Barr

Pacific Edge shares fell 26% to 8.4 cents on Monday, but “all is not necessarily lost”, said Forsyth Barr analysts.A local coverage determination in the United States means the company will no longer receive reimbursement for its Cxbladder tests from Medicare. Centres for Medicar...

Fonterra's plans unchanged despite court ruling
Primary Sector

Fonterra's plans unchanged despite court ruling

Bega reiterates its interest in Oceania business. 

Rakon reveals Chinese customer dropped
Markets

Rakon reveals Chinese customer dropped

High-tech manufacturer also says it had more than one interested buyer for the business.

Millennium Copthorne independent directors reject new offer but there is a caveat
Markets

Millennium Copthorne independent directors reject new offer but there is a caveat

Millennium & Copthorne Hotels New Zealand (MCK) independent directors recommended that minority shareholders steer clear of an increased offer from CDL Hotel Holdings NZ (CDLHH), but there was a caveat. In January, the subsidiary of the Singapore Stock Exchange-listed City Develo...