NZ Commerce Commission Proposes Authorizing Contact, Meridian, Mercury Agreements to Access Power Station Capacity
MT Newswires Live
Sep 30, 2025
New Zealand's Commerce Commission has proposed to authorize Contact Energy (ASX:CEN, NZE:CEN), Meridian Energy (ASX:MEZ, NZE:MEL), and Mercury NZ (ASX:MCY, NZE:MCY) to enter into agreements with Genesis Energy to access generation capacity from Genesis Energy's (ASX:GNE, NZE:GNE,) Rankine units at the Huntly Power Station till Dec.31, 2035, according to a Tuesday statement by the commission.
In exchange, the companies would pay an annual premium, the statement said.
Genesis said it will retire the Rankine unit 2 in January 2026 if the authorization is not provided, the statement added.
Submissions on the Commission's statement regarding the proposal are due by Oct. 17, the Commission said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.