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Contact Energy Limited ( (COENF) ) just unveiled an announcement.
Genesis Energy, alongside New Zealand’s largest electricity generators, is exploring options to ensure national energy security in response to recent energy supply challenges. They have entered into a non-binding agreement to consider extending the operational life of Huntly Power Station’s Rankine Units to manage dry-year risks and enhance system security amid increasing reliance on intermittent renewable sources. This initiative may include creating a strategic fuel reserve and extending existing firming options, with potential arrangements expected by 2026, pending regulatory approval.
More about Contact Energy Limited
Genesis Energy is a diversified energy company based in New Zealand, offering electricity, natural gas, and LPG through its retail brands Genesis and Frank. It is among the largest energy retailers in New Zealand with around 500,000 customers. The company generates electricity from a mix of thermal and renewable sources and holds a significant stake in the Kupe Oil and Gas Field.
YTD Price Performance: -2.06%
Average Trading Volume: 1,899
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $4.19B
See more data about COENF stock on TipRanks’ Stock Analysis page.
