Power to the people .... means more profits for Mercury
Power to the people .... means more profits for Mercury
21 August 2018
High wholesale power prices and record-high generation are giving Mercury's profits a major boost.
The country's third-largest power and gas retailer has reported a 27-percent increase in net profits, to 234 million dollars.
Operating earnings rose seven-percent to a record 523-million dollars.
The Auckland company has benefited from two years of above-average flows into its Waikato hydro catchment.
Its stations below Lake Taupo recorded the highest water volume since 1996.
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