Mercury, Genesis signal weaker earnings on low lakes, gas shortage

Wed, 17 Apr 2019

By Gavin Evans April 18 (BusinessDesk) - On-going dry weather on the North Island has prompted Mercury NZ and Genesis Energy to lower their full-year operating earnings forecasts. Mercury, which makes most of its power at nine power stations on the Waikato River, today lowered its forecast earnings before interest, tax, depreciation, amortisation and changes in financial instruments to $495 million, from the $515 million it signalled in January. Continued dry weather around Taupo means it expects only about 4,000 gigawatt-hours of hydr...

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