Genesis Energy welcomes the Government's Frontier Report

Genesis welcomes the government’s release of its decisions relating to the independent review of New Zealand’s electricity market performance and the greater clarity it brings. The decision to focus on areas such as fuel security, long duration firming requirements and signalling the Crown’s willingness to participate in commercially driven equity raises are welcomed. Genesis has long advocated for a broader market responsibility and funding of fuel security and dry year, wind hole firming.

“Genesis’s Gen35 strategy appears well aligned to supporting today’s announcements, supporting better outcomes for our customers, building new renewables and delivering a secure electricity system. We will take time to carefully consider these announcements and deliver faster for our customers, shareholders and the country.” Says Chief Executive Malcolm Johns

A copy of the relevant materials can be found at MBIE Frontier Report Website and will be made available in the investor section on the Genesis website.

ENDS


For investor relations enquiries, please contact:
David Porter
Investor Relations Manager
M: 020 4184 1186

For media enquiries, please contact:
Graeme Muir
Group Manager Communications
M: 027 202 4885

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Announcement PDF