NZ Power Giants Unite to Extend Huntlys Role in Energy Security

Genesis Energy (NZX: GNE), Mercury NZ (NZX: MCY), Meridian Energy (NZX: MEL), and Contact Energy

(NZX: CEN) have signed a non-binding agreement to explore extending the operation of the Huntly Power Station’s Rankine units. The units, capable of running on gas, coal, and alternative fuels, are crucial in managing New Zealand’s "dry-year risk" and ensuring long-term energy security.

In a rare joint statement, the power companies emphasized the importance of maintaining Huntly’s role in stabilizing the grid, particularly during periods of low hydro generation. The collaboration reflects a strategic effort to enhance the reliability of New Zealand’s electricity supply as the country transitions towards renewable energy. The discussions will assess the viability of keeping the Rankine units operational beyond their expected lifespan, considering fuel options and system demands.

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