2 Aug 2012

Genesis Energy generation up 61% in last quarter

6:49 pm on 2 August 2012

Genesis Energy says its focus on maintaining its share of the retail energy market has driven a strong fourth quarter performance.

However, its customer numbers were down slightly on the same period last year with electricity and gas market shares at 26.6% and 42.7% respectively at the end of June.

The state owned enterprise's total generation was up 61%, on the same time last year, driven by cold temperatures and low inflows into its southern hydro lakes.

The conditions also contributed to moderate to high prices in the wholesale market over the period.

It's full year financial results will be released at the end of August.