Mercury's Hydro Generation Drops 16% in September Quarter

MT Newswires Live10-16

Mercury NZ (NZE:MCY, ASX:MCY) reported hydro generation of 965 gigawatt hours (GWh) in the three months ended Sept. 30, a 16% decline from 1,144 GWh in the same period a year ago, according to a Wednesday filing with the Australian and New Zealand bourses.

The decline was attributed to dry Waikato catchment conditions and was partially offset by higher wind generation and geothermal performance.

Commercial and industrial yields grew to NZ$169.88 per megawatt hour from NZ$152.27 a year ago, reflecting contract repricing to a sustained higher electricity forward curve, the filing stated.

The power company forecasts hydro generation of 3,900 GWh for the financial year, up 100 GWh from its guidance in August.

Price (AUD): $6.70, Change: $-0.020, Percent Change: -0.30%

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