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Genesis, Contact, Meridian, And Mercury Seek Authorisation For Strategic Energy Reserve Huntly Firming Option
The Commerce Commission (the Commission) has received an application from New Zealand’s four largest electricity generator-retailers (Genesis Energy Limited, Contact Energy Limited, Meridian Energy Limited, and Mercury NZ Limited) (the Gentailers) seeking authorisation to enter into and give effect to a series of arrangements referred to as the Strategic Energy Reserve Huntly Firming Option. Authorisation is sought until 31 December 2035.
The arrangements are proposed to provide a commercial incentive for Genesis to maintain Rankine Unit 2, a gas/coal-fired unit at Huntly Power Station, for use as ‘dry year cover’ when other forms of electricity generation (such as hydro generators) may not be sufficient to ensure security of supply. The arrangements provide each of Contact, Meridian, and Mercury with an option to access spot price electricity cover in exchange for an annual premium, which Genesis may use to contribute to the cost of maintaining, operating, and resourcing the Rankine Units.
The Commission has published a statement of preliminary issues relating to this application. The statement outlines the key issues that the Commission considers important in deciding whether or not to grant authorisation for the Gentailers’ proposed arrangements.
The Commission invites interested parties to provide comments on the likely benefits and detriments of the proposed arrangements, including any likely competitive effects. Public submissions on the application can be sent by email to registrar@comcom.govt.nz with the reference ‘Huntly authorisation’ in the subject line. Any submissions should be received by close of business on 27 August 2025.
The statutory deadline for making a determination on this authorisation is 16 February 2026. However, the Commission appreciates the urgency with regard to this application and will progress this as soon as possible.
The Statement of Preliminary Issues and a public version of the application for authorisation is available on the Commission’s case register.
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