Unfairly maligned Genesis cleared over August black-outs

Unfairly maligned Genesis cleared over August black-outs
The decision by Genesis not to fire up Huntly power station to full capacity was rational says regulator. (Image: Getty)
Ian Llewellyn
Another chapter in the ongoing fallout from the August 2021 electricity blackout has closed with the sector regulator saying Genesis Energy broke no rules and acted rationally in not firing up more generation that day.The Aug 9 blackouts were the first of their type in New Zealand for decades and the lights went out at tens of thousands of houses with their electricity deliberately cut to reduce pressure on the network.Much of the initial finger-pointing was aimed at generators who were accused of not supplying enough electricity on what was th...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024