Genesis electricity sales up 4.7% QoQ

Company News

by Anna Napoli

New Zealand electricity and gas company, Genesis Energy (ASX:GNE) has released its FY19 Q2 performance summary with total electricity sales up 4.7 per cent when compared with the prior corresponding period.

Gas sales were up almost 23 per cent on the same time last year.

Netback margins were up for electricity and LPG but down for gas due to timing of price increases.

The company says its generation portfolio responded well to a fuel constrained wholesale market demonstrating the importance of fule diversity and flexible supply chain.

Shares in Genesis Energy (ASX:GNE) (ASX:GNE) closed 0.4 per cent higher at $2.51.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.