Mercury raises guidance on increased storage, high spot prices

Fri, 18 Oct 2019

Mercury NZ has raised its full-year earnings guidance by $25 million on the back of rising storage in its Waikato catchment and sustained high wholesale electricity prices.Storage in Lake Taupo has climbed steadily since May. It is at a 19-month high and about 20 percent above average for this time of year.Recent “wetter than average” weather in the region should deliver about 50 gigawatt-hours more electricity, lifting the firm’s total expected hydro production for the year to June 30 to 4,070 gigawatt-hours, the company said in a statement to...

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