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Genesis Energy Limited ( (DE:1G6) ) just unveiled an announcement.
Genesis Energy, along with New Zealand’s three other major electricity generators, is exploring market options to maintain national energy security following a challenging winter in 2024. They have agreed to investigate keeping the Huntly Power Station Rankine Units operational for longer than planned to address ‘dry-year risk’ as the country increases wind and solar energy production. This could involve new commercial arrangements and strategic fuel reserves, potentially extending operations until the early 2030s, subject to regulatory approval.
More about Genesis Energy Limited
Genesis Energy is a diversified energy company based in New Zealand, selling electricity, reticulated natural gas, and LPG through its brands Genesis and Frank. It is one of New Zealand’s largest energy retailers with around 500,000 customers. The company generates electricity from a mix of thermal and renewable sources and holds a 46% interest in the Kupe Joint Venture, which manages the Kupe Oil and Gas Field.
YTD Price Performance: 0.85%
Average Trading Volume: 800
Technical Sentiment Consensus Rating: Hold
Current Market Cap: €1.36B
Learn more about 1G6 stock on TipRanks’ Stock Analysis page.
