Genesis Energy is considering a capital bond offer of up to $240 million which would replace $200 million of hybrid notes ahead of an interest rate reset on the securities in July.
In today's email we report on Newsroom's investigation into complaints of harassment and inappropriate workplace behaviour at one of New Zealand's leading law firms, and we detail yesterday's developments in National's leadership contest.
In a move that has polarised Green politicians and activists, Genesis Energy has announced it will keep burning coal until 2025 and possible as late as 2030. With James Shaw and Greenpeace lining up on opposite sides of the issue, Thomas Coughlan reports on why Huntly's smoke stacks could stay up for at least another decade.
For the convenience of email subscribers, here's my weekend column on whether Flick Electric could use new technology and raw market signals to 'do a Trade Me' to the electricity industry.
A report for MBIE has found the Electricity Authority's NZ$15 million 'What's My Number' website and marketing campaign to encourage consumers to switch power retailers appeared not to have reduced power prices or increased competition much.
The average residential electricity bill rose 2.9% in 2013, including a 2.2% increase in distribution and transmission charges and a 3.4% increase in energy and retail charges.
The Electricity Authority has announced its Retail Advisory Group is considering recommending to the Authority that all retailers itemise lines charges in their bills.
Prime Minister John Key has defended significant increases in power prices for consumers as necessary to fund Transpower's national grid upgrades, arguing power price increases had been less under National than under Labour.
This chart (prepared by PwC for the Electricity Networks Association in May 2013) attempts to unravel the proportions of electricity charges related to lines distribution charges, electricity generation costs, network transmission costs and GST.
The Electricity Authority (EA) has announced it will be reviewing retailers' claims they are putting up prices because of higher distribution charges.