Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

CORRECT: Genesis Energy adds customers in Q4

CORRECT: Genesis Energy adds customers in Q4

(removes 3rd to last par in earlier version referring to levels of disclosure)

July 29 (BusinessDesk) - State-owned electricity generator and retailer Genesis Energy says it is continuing to grow its customer base, thanks to new electricity and gas offerings, new energy-saving products, and ongoing acquisition of customers in the South Island.

At June 30, Genesis had added 3 percent to its total customer base, with 543,774 electricity customers, 114,961 gas customers and 9,708 LPG customers, with some customers taking more than product from Genesis, making it by far the country's largest electricity retailer by customer numbers.

A combination of dry conditions in the North Island and a scheduled maintenance outage for the Tekapo A and B hydro stations in the South Island saw total hydro generation down 27 percent in the three months to June 30, compared to the same period a year earlier. That was the main driver behind a total generation output decline of 19 percent for the quarter, against the prior period, at 2,094 Gigawatt hours.

During the period, Genesis launched new products such as the MyMeter smart phone and tablet ‘app’, the MyEnergyCoach online service, and the commercial launch of advanced variable tariffs to customers in Christchurch and the Waikato.

MRP was partially privatised in May, and Contact was privatised fully in 1999. All three release a combination of detailed monthly and quarterly operating metrics.

At this stage, the government has yet to indicate whether it will forge ahead with a partial sale of Genesis, having indicated only that a sale would be likely in the first half of next year, were it to proceed.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>

Sci-Tech: Perseverance Rover Lands On Mars – Expert Reaction

NASA has landed a car-sized rover on the red planet to search for signs of past life. The vehicle has more instruments than the four rovers preceding it, and it’s also carrying gear that could help pave the way for human exploration of Mars. The ... More>>

ALSO:


ASB: Quarterly Economic Forecast Predicts OCR Hike As Early As August 2022

Predictions of interest rate rises have been brought forward 12 months in ASB’s latest Quarterly Economic Forecast. Chief Economist Nick Tuffley now expects the RBNZ to begin raising the OCR from its current level of 0.25% as early as August ... More>>

Real Estate: House Price Growth Rates In Hawke’s Bay Skyrocket Ahead Of Rest Of New Zealand

Hawke’s Bay is leading the property ‘pack’ proving a post lockdown land of milk and money, continuing to outstrip the rest of the country with the highest annual growth rate in house price values. But experts warn an overheated market is fast ... More>>

ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>

OECD: Unemployment Rate Stable At 6.9% In December 2020, 1.7 Percentage Points Higher Than In February 2020

The OECD area unemployment rate was stable at 6.9% in December 2020, remaining 1.7 percentage points above the level observed in February 2020, before the COVID-19 pandemic hit the labour market. [1] In December, the unemployment rate was also stable ... More>>

Stats NZ: Unemployment Drops To 4.9 Percent As Employment Picks Up

The seasonally adjusted unemployment rate dropped to 4.9 percent in the December 2020 quarter, from 5.3 percent in the September 2020 quarter, Stats NZ said today. Last quarter’s unemployment rate of 5.3 percent followed the largest increase observed ... More>>