Genesis Energy customer numbers fall; LPG sales soar
Electricity volumes sold fall by 3.2%.
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Hawke’s Bay
Genesis Energy, the country's largest energy company by customer numbers, says electricity retail connections fell by 1.2% to 514,155 between September and December 2016.
Genesis says the fall in connections, combined with reduced national demand, saw electricity volumes sold fall by 3.2% in the mass market, and 3.6% in the time of use market.
Retail gas sales were flat on a quarter-to-quarter basis, but were up 1% on the previous year.
LPG sales were a bright spot however, with the number of connections rising 5% between September and December to 17,513. Connections were also up 22% on a year earlier. Retail sales volumes rose 25% to 1101 tonnes.
The average price received for electricity generation was $47.07 per gigawatt hours, down by almost a third from a year ago. This reflects a wet spring, with hydro generation up 22% on a year earlier.
Thermal generation was down 37%, while total coal generation fell 92% on a year earlier.
Genesis shares rose 0.7% to $2.165, and are up 23% from a year earlier.
(BusinessDesk)
Edwin Mitson
Thu, 26 Jan 2017
Thu, 26 Jan 2017
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Genesis Energy customer numbers fall; LPG sales soar
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