Manawa Energy has lowered its earnings guidance for the 2025 financial year, citing the impact of dry hydrological conditions and lower wind volumes.
The company now expects normalised ebitdaf to be in the range of $80 million to $95m, compared to the previous guidance of $95m to $115m.
Manawa said it has experienced reduced inflows into its hydro schemes, with inflows since December 2024 being 90gwh below the long-term average.
This has resulted in lower generation from run-of-river schemes and storage lake levels at 79% of the long-run average for this time of year.
Wind power purchase agreement offtake volumes were also 38% lower than the long-term average.
The company said wholesale electricity prices have increased sharply since the start of January, reflecting these conditions.
Manawa's revised earnings guidance is based on assumptions of hydro generation volumes of about 1,640gwh and wind ppa offtake volumes of about 590gwh.
It also expects fy25 capital expenditure to be near the top end of the previous guidance range of $40m to $50m.
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