Market Alert: Strong Nuclear Tensions in South Asia Assessing the Fallout on Global Equity Markets
Genesis (NZX: GNE) faced a tight wholesale gas market and falling hydro storage in FY24 Q4, necessitating increased thermal generation from Huntly's Rankine units, which saw a rise of 638 GWh compared to the previous period. With continued energy shortages anticipated, Genesis reactivated three Rankine units in July for potential operation alongside Unit 5, dependent on staffing, reliability, and fuel availability.
Huntly's solid fuel supply decreased to 231 kT due to gas shortages and low hydro levels. To mitigate this, Genesis imported additional coal in July, aiming to maintain a 350 kT stockpile. The sale of Huntly Firming Options contracts, enhancing fuel security, is in final negotiations.
Genesis' retail segment showed robust performance, with customer growth and a 3.5% increase in electricity sales. A review of the retail operating model led to a reduction of 130 FTE, aligning with the strategic focus on trading, fuels strategy, and asset development. The Lauriston Solar Farm, a joint venture with FRV, is progressing well and is set for first generation in Q2 FY25.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is based in Australia. The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
