MCY Reports Lower Hydro Generation Due to Draught

  • July 20, 2020 12:30 PM NZST
  • Team Kalkine

For the three months ended 30 June 2020, Mercury NZ Limited (NZX:MCY) reported hydro generation of 727GWh, down from 796GWh in Q4FY19, due to exceptionally dry hydrology with Q4FY20 Waikato catchment inflows at the 1st percentile.

Geothermal generation was maintained at 671GWh in Q4FY20 versus 679GWh in the same quarter in FY2019 seeing full year geothermal production 3% lower than FY2019 due to major maintenance.

Demand in the most recent quarter decreased by 4.2% on a temperature-adjusted basis due to the COVID19 lockdown.

 


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