Paying the price for securing gas supply

Keeping Huntly at full operation will come at a price. (Image: NZME)

Wed, 14 Aug 2024

New Zealand Exchange-listed companies Contact Energy and Genesis Energy could pay about $100 million to secure gas supply for their thermal generation. Still, both listed firms refuse to provide any details on the deal.After weeks of talks, Contact Energy and Genesis Energy said on Tuesday they had secured large amounts of gas – 3.5 petajoules and 3.2PJ, respectively – to keep their gas-fired electricity units operating until October.Methanex’s global president and chief executive, Rich Sumner, said the temporary idling of met...

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