The company reported revenue of NZD2.48 billion for 2007/2008, compared to NZD1.77 billion in the previous year.
Decreasing South Island hydro lake levels in the second half of the year necessarily resulted in greater generation from the company’s thermal plant at Huntly. Thermal volumes, therefore, increased from 6,318GWh in 2006/07 to 7,575GWh in the year to the end of June 2008. Total generation volumes grew from 7,992GWh to 9,126GWh.
Brian Corban, Genesis Energy’s chairman, said that the high generation levels would not have been achieved without the hard work of production staff and excellent reliability of both the 25-year-old Huntly Units 1 – 4 and the much newer Mitsubishi combined cycle gas turbine.
