Mercury NZ Ltd. (MGHTF) has released an update.
Mercury NZ Ltd. reports higher electricity spot prices due to low inflows, with Auckland averaging $187/MWh over the financial year and forward prices indicating continued market tightness. The company’s generation portfolio proved resilient, with increased geothermal and wind output offsetting lower hydro generation. Investments in renewable energy continue, as construction for Kaiwera Downs wind farm stage 2 begins, marking over $700 million committed to new renewables.
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