Mercury says strong prices to offset lower hydro output, Metrix sale

Tue, 22 Jan 2019

By Gavin Evans Jan. 23 (BusinessDesk) - Mercury NZ says high spot prices in the December quarter should enable it to meet its full-year earnings guidance despite lower hydro production and the loss of earnings from its soon-to be-sold meter business. The firm today reiterated its September forecast for $515 million of operating earnings in the year through June. That was despite the company also lowering its full-year hydro generation assumption by 50 gigawatt-hours to 4,150 GWh due to low inflows into its Waikato catchment since October....

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