UPDATE: Mercury, Genesis signal weaker earnings on low lake levels, gas shortage

Thu, 18 Apr 2019

(Updates with share-price reaction, NIWA rain forecast, company comment to end) 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. Continue...

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