Genesis announced the reintroduction of its dividend reinvestment plan.
The power and gas distributor's profit result was largely due to higher capital contributions, a gain on the sale of a 50% share of the Treescape business, and lower interest costs.
Credible interest from major global energy players in producing hydrogen with renewable electricity in Southland puts pressure on the price the Tiwai Point smelter might pay for power in the future.
A typical annual household gas bill of about $1,275 would increase by about $55 per year under a new Commerce Commission proposal.