Wednesday 25th January 2017
|Text too small?|
Genesis Energy, the country's largest energy company by customer numbers, says electricity retail connections fell by 1.2 percent to 514,155 between the end of September and the end of December 2016.
In an update to the NZX, Genesis said the fall in connections, combined with reduced national demand, saw electricity volumes sold fall by 3.2 percent in the mass market, and 3.6 percent in the time of use market.
Retail gas sales were flat on a quarter to quarter basis, but were up 1 percent on the previous year.
LPG sales were a bright spot however, with the number of connections rising 5 percent between the end of September and the end of December to 17,513. Connections were also up 22 percent on a year earlier. Retail sales volumes rose 25 percent to 1,101 tonnes.
The average price received for electricity generation was $47.07 per gigawatt hours, down by almost a third from a year ago. This reflects a wet spring, with hydro generation up 22 percent on a year earlier. Thermal generation was down 37 percent, while total coal generation fell 92 percent on a year earlier.
Genesis shares rose 0.7 percent to $2.165, and are up 23 percent from a year earlier.
No comments yet
MARKET CLOSE: NZ shares rise as Restaurant Brands, A2 gain; Xero, Scales drop
NZ dollar pares CPI gains as greenback rises, wait for govt continues
Fisher Funds says new Xero holding amounts to 3% of Kingfish fund
Reduced viewpoints in media merger not ComCom's concern, lawyer says
NZ Super Fund, govt cash cow, paid 60 times more tax than Fonterra last year
Infratil, flush with funds, won't offer reinvestment option for Nov. 2017 bond holders
NZ frozen beef exports to Japan slump after tariff hike
Mondelez pulls pin on finding local manufacturer for Kiwi candy
ASX-listed HRL Holdings expands Kiwi footprint with $30M Analytica Laboratories acquisition
Ebos forecasts 10% lift in 2018 earnings after strong first quarter for healthcare, animal products