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

NZ sharemarket up 0.5% ahead of long weekend
Markets Market Close

NZ sharemarket up 0.5% ahead of long weekend

Pacific Edge's share price fell 7.32%.

Tom Raynel 24 Apr 2025
Pacific Edge suffers another setback in US
Markets

Pacific Edge suffers another setback in US

Shares in cancer diagnostics company Pacific Edge are down 2.44% to $0.120 after another setback in the US market.The US District Court for the Middle District of Pennsylvania has determined that it does not have jurisdiction to review a Local Coverage Determination (LCD) that co...

Staff reporters 24 Apr 2025
Listed retailers stand to gain from Trump tariffs:  Forsyth Barr
Retail

Listed retailers stand to gain from Trump tariffs: Forsyth Barr

Forsyth Barr lifted its KMD Brands target price by 10.4% after Trump tariff walkbacks.

Gregor Thompson 24 Apr 2025
NZ sharemarket rises as Trump backs down
Markets Market Close

NZ sharemarket rises as Trump backs down

The S&P/NZX 50 Index closed up 1.01% or 119.78 points.

Tom Raynel 23 Apr 2025