NZ's Genesis Energy jumps on deal to explore Huntly Power Station's potential

Genesis Energy

12/02/2025 04:22

** Genesis Energy  GNE.NZ  rises 1.8% to NZ$2.31, highest
since December 27, 2024
    ** Earlier in the day, stock jumped as much as 2.2% to post
biggest intraday pct gain since February 5
    ** Diversified energy co and its Kiwi peers Mercury NZ
 MCY.NZ , Meridian Energy  MEL.NZ , and Contact Energy  CEN.NZ 
exploring ways to bolster energy security for winters
    ** Says all four power cos have an agreement to probe Huntly
Power Station's potential to manage "dry-year risk" and improve
long-term system security
    ** Adds new commercial structure, which includes pricing,
cost and strategic fuel reserve to cover disruptions to other
fuel supplies, could be operational by 2026
    ** Stock fell 2.7% in January

 (Reporting by Kumar Tanishk in Bengaluru)
 ((Tanishk.Kumar@thomsonreuters.com;))