Mercury takes winter hit, prepares for the next

Mercury's fortunes rise and fall with Lake Taupō's water levels. (Image: NZME)

Tue, 25 Feb 2025

Lower generation and higher energy costs hit Mercury’s earnings in the first half of the 2025 financial year, as the company and sector focus on surviving the coming winter.Mercury reported a $16 million drop in earnings (Ebitdaf) in the six months to Dec 31 to $418m, which was mainly lower due to a decrease in renewable generation and higher operating expenditure.This flowed through to help cause a net loss after tax of $67m, down from a $241m profit a year ago. However, this was mainly driven by adverse unrealised movements in non-...

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