Mercury’s performance strong in testing year

FY2020 FINANCIAL RESULTS SUMMARY 

18 August 2020 - Mercury’s overall performance was strong in a testing 2020 financial year affected by drought across the Waikato catchment which impacted hydro generation from September, and the disruption caused by the COVID-19 pandemic.

Minimal rainfall in the final quarter of the financial year continued a sequence of record low hydrological conditions. Lake Taupō hydro storage ended the year almost 100GWh below its long-term mean at the end of June. Hydro generation for the year of 3,712GWh (4,006GWh FY2019) was approximately 300GWh down against Mercury’s long-term average. Careful management of Lake Taupō’s storage levels, and prudent hedging, helped lessen the financial impact of the extremely low inflows. See link for more.

Results announcement FY2020

Source: Mercury NZ Limited 

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

GNE - Resignation of Chief Financial Officer
PFI - Property for Industry Limited Launches Bond Offer
March 30th Morning Report
HGH Ltd Results for the 6 months ended 1 February 2026
March 27th Morning Report
CDC investor presentation and guidance update
PFI - Potential Bond Offer by PFI
MCY - Mercury Green Bond offer - interest rate set
March 25th Morning Report
AFT - Chief Financial Officer update