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Highlights
- Talks underway regarding first green hydrogen plant in New Zealand.
- Meridian Energy provides a management update.
- Mercury NZ receives clearance from Commerce Commission.
New Zealand’s energy sector is known to have survived through the turmoil that the COVID-19 pandemic brought upon the world last year.
Currently, negotiations are being done between top energy companies listed in New Zealand and Australia-Meridian Energy and Contact Energy - for the creation of the world’s first green hydrogen plant. However, things are yet to boil down to the prices of commodities.
If this goes through, it could mean a new sustainable era for the energy industry of the country.
Let’s have a look at how some energy stocks in both the countries have recently fared.
Image source: © 2021 Kalkine Media New Zealand Lt; data source: Refinitiv
Genesis Energy Limited (NZX:GEN) (ASX:GNE)
Working in the sale of reticulated gas besides other products, Genesis Energy Limited is a dual-listed Company.
In its latest announcement, the Company had stated that due to COVID-19-related challenges, the annual meeting for the Company should be held via web conference on 29 October 2021 and several important matters shall be discussed herein.
Related article; A glance at 5 NZX stocks' results --SDL, EVO, MOV, GNE, WDT
On 30 September 2021, the Company was trading at NZ$3.280, up by 1.23% at the time of writing.
Meridian Energy Limited (NZX:MEL) (ASX:MEZ)
The Company functions in the generation of sustainable energy through various sources.
In a recent announcement, the Company said that CEO Jason Stein should continue in the role, along with Powershop Australia. He shall continue in the role till the completion of the ownership review of the Company, or till 31 March 2022, whichever happens first.
Also read; Is Meridian Energy(NZX:MEL) on a growth path post FY21?
On 30 September 2021, the Company was trading at NZ$4.975, down by 0.10%, at the time of writing.
Contact Energy Limited (NZX:CEN) (ASX:CEN)
The Company deals in creating smart solutions for the energy requirements of the clients, based on making lives easier.
According to the August monthly report released by the Company, it recorded 436 GWH in gas and mass market electricity sales, while the net revenue earned through steam and electricity was NZ$110.57/MWh.
Related read; Contact Energy (NZX:CEN) releases operating report for August 2021
On 30 September 2021, the Company was trading at NZ$8.390, up by 1.08% at the time of writing.
Mercury NZ Limited (NZX:MCY) (ASX:MCY)
Another name in the Country’s diverse and impressive Energy Line-up, the Company announced Wednesday that it had received Commerce Commission’s Clearance about the Trustpower retail business acquisition on 22 September 2021.
Still a conditional agreement, it depends on the Deed structure of the Tauranga Energy Consumer Trust.
On 30 September 2021, the Company was trading at NZ$6.415, up by 0.86%, at the time of writing.
Bottom Line
Companies in NZ are taking big leaps of faith to ensure sustainable energy future for the country.
