GNE - Genesis secures additional gas to strengthen fuel portfolio

Genesis secures additional gas to strengthen fuel portfolio

Genesis has secured approximately 11.4 PJ of additional third-party gas supply for the period from March 2027 to December 2029.

In addition, Genesis has exercised its right of first refusal in respect of Kupe gas supply from Beach Energy Resources NZ (Kupe) Limited and Kupe Mining (No.1) Limited, both wholly owned subsidiaries of Beach Energy, securing access to up to 8.6 PJ of gas from January 2027 to December 2028, subject to execution of the relevant transaction documentation and required ministerial approval.

Together, these arrangements strengthen Genesis’ fuel portfolio and gas position through to FY29, providing sufficient gas to meet forecast retail demand and support the transition away from baseload gas generation.

Chief Wholesale Officer Tracey Hickman commented “this additional gas gives us greater choice in how we manage our generation mix and respond to customer demand and changing market conditions. It complements our existing fuel arrangements and enhances the flexibility of our generation portfolio.”

ENDS

• Genesis secures additional gas to strengthen fuel portfolio

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