Low gas supply, hydro and wind levels and the outage of a power station unit squeezing earnings.
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The company says it is doing its bit to deliver energy to New Zealand and sudden changes to power market rules can be unfairly costly.
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Generators are being given access to more water as New Zealand creeps towards electricity shortage. So how is power generated, what’s the problem, and how do we fix it?
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Seeka has reported a net profit after tax of $17.1 million for the six months June, a 63 percent increase on the same period last year.
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Increased lending has led to the New Zealand-owned bank growing faster than its main Australian owned rivals.
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The company says it will bring forward the ability of hydroelectricity generators to access reserves.
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A writedown in the value of Adelaide Casino’s assets and a tax adjustment of nearly $130m contributed to the loss.
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Leaving aside one-off items, Auckland Airport’s underlying profit rose sharply as overseas travellers returned.
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Rivers and lakes could be cleaned up and profits still generated for landowners by converting sheep and beef farms to pine trees, new research says.
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The economic crunch is deepening, but it hasn’t been felt evenly, data from Infometrics shows.
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