NZ Government Pledges Capital For New Electricity Generation.

The article discusses the New Zealand government's commitment to support three majority-owned power companies—Genesis Energy, Mercury NZ, and Meridian Energy—in raising capital for new electricity generation, including non-renewable sources. This decision comes in response to a review indicating that these companies have not invested sufficiently in larger generation projects due to concerns about government equity support. The government aims to address electricity supply challenges, particularly during dry years when hydro-power is less reliable, and has announced measures such as a procurement process for a liquefied natural gas (LNG) import facility expected to be operational by winter 2027. The Finance Minister highlighted the need to correct the perception of government support and indicated that previous policies focused on 100% renewable generation had created uncertainty in the energy sector. [Extracted from the article]