‘Electricity generator Mercury lowers its full-year profit forecast’ by Tina Morrison.
Stuff – Business / February 2021
The impact of dry weather on hydro generation for one of Aotearoa’s largest electricity generators, Mercury, is affecting their profit forecast by around $15m. However, despite low inflows into the Waikato hydro system and record low inflows since around September 2019, the overall company profit remains higher than reported last year. Another situation where the increasing cost of wholesale shows great benefit to generators within the industry.