Manawa Energy Faces Challenges from Extreme Weather and Market Conditions

Manawa Energy Limited (NZX: MNW) reported being significantly impacted by extreme weather and volatile market conditions in July and August. The company experienced unusually high wholesale spot prices, driven by limited renewable fuel supply and rising gas prices. Dry and calm conditions persisted through July and early August, following a dry May and June, exacerbating the issue. While Manawa Energy did not specify the financial impact, it indicated that full details will be revealed in its second-quarter financial report due in early November. At the time of writing, the company is closely monitoring market trends and weather conditions to navigate these challenges.

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