Genesis Energy lifts FY26 earnings guidance on strong Q2 and renewables push

Genesis Energy Limited ( (DE:1G6) ) just unveiled an update.

Genesis Energy reported a strong second quarter for FY26, with favourable hydrology and disciplined fuel management driving record-low thermal generation and improved margin quality. Hydro generation rose to 740 GWh and lake levels climbed well above average, boosting dispatch flexibility, while thermal output fell to record lows for both the quarter and half year, allowing the company to monetise surplus gas through additional industrial sales and support electricity netbacks of $159/MWh. Operationally, Genesis advanced its renewables and storage pipeline with progress on onshore wind, solar and battery projects, including a grid connection application for the ~300 MW Castle Hill wind project, a framework deal with Yinson Renewables for over 1 GW of onshore wind opportunities, final investment decisions and acquisitions for major solar farms at Edgecumbe and Rangiriri, and continued delivery of the Huntly battery energy storage project. Reflecting the robust first-half performance, Genesis lifted its FY26 Normalised EBITDAF guidance to $490 million–$520 million, underscoring the benefits of its diversified portfolio, active management of hydro and thermal flexibility, and ongoing execution of its Gen35 strategy, although higher operating costs are expected as that strategy is implemented.

More about Genesis Energy Limited

Genesis Energy is a diversified New Zealand energy company that sells electricity, reticulated natural gas and LPG and is one of the country’s largest energy retailers, serving more than 520,000 customers. It generates electricity from a mix of thermal and renewable assets across New Zealand and holds a 46% stake in the Kupe Oil and Gas Field, reporting NZ$3.7 billion in revenue for the 12 months to 30 June 2025.

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