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

Vital board backs Tait takeover
Markets

Vital board backs Tait takeover

Vital’s board has unanimously recommended that shareholders and option holders accept a full takeover offer from Tait Communications, despite their view that it undervalues the company.In May, Vital shares rallied after it disclosed that Tait, a Christchurch-based critical commun...

Listed property firms welcome ‘Investment Boost'
Property

Listed property firms welcome ‘Investment Boost'

The tax policy could translate into millions in extra cash.

Drury’s ASX stag, MetroGlass’s new owner, and more
Markets Small Cap Wrap

Drury’s ASX stag, MetroGlass’s new owner, and more

Rod Drury goes ‘pre-revenue’ again, plus small cap news from NZ.

NZX down as property company gets key renewal
Markets Market Close

NZX down as property company gets key renewal

ASB Bank has extended the lease for its downtown Auckland site for another nine years.

Tom Raynel 03 Jul 2025