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 down slightly
Markets Market close

NZ sharemarket down slightly

The S&P/NZX 50 Index closed at 11,800.78, down 20 points or 0.17%.

Graham Skellern 07 May 2024
IkeGPS wins $4m in US contracts for its 'industry standard' software
Markets

IkeGPS wins $4m in US contracts for its 'industry standard' software

The company is positioning its software as integral to US electrical grid design.

Staff reporters 07 May 2024
'Spectacular': Briscoe's Rod Duke rapt with 1Q sales result
Retail

'Spectacular': Briscoe's Rod Duke rapt with 1Q sales result

Unaudited group sales grew 1.03% amid tough trading conditions.

Gregor Thompson 07 May 2024
ANZ increases cash profit as net interest margins get squeezed
Economy

ANZ increases cash profit as net interest margins get squeezed

ANZ New Zealand has reported a 4% increase in its half-yearly profit despite pressure squeezing its margins.The bank's cash profit increased to $1.15 billion in the six months to March, up from $1.1b in the same period last year, but stable compared to the second half of its...

Riley Kennedy 07 May 2024