Methanex shutters operations to keep NZ's lights on – and make money

Methanex shutters operations to keep NZ's lights on – and make money
Gas deal means all the units at Huntly can operate. (Image: NZME)
Ian Llewellyn
The major electricity companies' scramble for fuel to bridge the energy shortfall has had some success, but the price is that one of New Zealand’s largest gas users has to shut down until October.After weeks of talks, Contact Energy and Genesis Energy announced they had secured large amounts of gas – 3.5 petajoules and 3.2PJ, respectively – to keep their gas-fired electricity units operating until then.This will temporarily solve part of the fuel problem, which is caused by a shortage of gas, low wind and hydro lakes. It h...

More Markets

KMD Brands pulled into Trump trade war
Retail

KMD Brands pulled into Trump trade war

Like a lot associated with so-called ‘Liberation Day’, much remains uncertain.

US tariff risk less than expected for FPH, Jarden says
Economy

US tariff risk less than expected for FPH, Jarden says

Jarden says tariff-related impacts on earnings would be "nominal" by 2030.

Jarden says Skellerup 'most exposed' to Trump's tariffs
Markets

Jarden says Skellerup 'most exposed' to Trump's tariffs

US President Donald Trump's sweeping global tariffs, announced on Thursday, are expected to have devastating consequences not only in the US but also in New Zealand.In a note on Friday morning, Jarden analysts Guy Hooper and Nick Yeo predicted that NZX-listed Skellerup looks...

Wall Street reels as Trump’s plan sinks markets
Markets

Wall Street reels as Trump’s plan sinks markets

The president’s sweeping tariffs proved far more severe than investors predicted.