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Meridian Energy Limited ( (MDDNF) ) just unveiled an update.
Genesis Energy, alongside New Zealand’s other major electricity generators, is exploring options to extend the operational life of the Huntly Power Station’s Rankine Units to enhance national energy security. This move responds to recent challenges in energy supply due to declining natural gas availability and adverse weather conditions affecting hydro and wind power. The new commercial structure being considered includes strategic fuel reserves and possibly extending existing firming options for up to a decade, with new arrangements expected by 2026, pending regulatory approvals.
More about Meridian Energy Limited
Genesis Energy is a diversified energy company in New Zealand, offering electricity, reticulated natural gas, and LPG through its Genesis and Frank brands. With approximately 500,000 customers, it is among the largest energy retailers in New Zealand. The company generates electricity from a range of thermal and renewable sources and holds a 46% interest in the Kupe Oil and Gas Field. In the year ending June 2024, Genesis reported a revenue of NZD 3.0 billion.
YTD Price Performance: -2.52%
Average Trading Volume: 3,625
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $8.69B
See more data about MDDNF stock on TipRanks’ Stock Analysis page.
