Mercury has reported a strong operational performance for the three months ended September 30, 2025.
The company achieved record hydro generation in July, the highest for that month since 1980.
This was driven by above-average hydrological inflows, which were at the 87th percentile nationally.
The increased generation contributed to lower spot electricity prices, with the average price in Auckland at $134 per megawatt hour.
National demand for electricity was also 3.5% higher compared to the same period last year, primarily due to the return of New Zealand Aluminium Smelters to normal production levels.
Mercury's Taupō storage remains elevated, with 70th percentile inflows, providing a strong position for the second quarter.
The company also announced the commencement of a 20-year power purchase agreement with Visy, which will supply 115 gigawatt hours of electricity per annum for the initial 10-year term.
Additionally, Mercury surpassed 150,000 fibre connections nationwide, reflecting its telco growth strategy.
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