Genesis Energy Limited

Genesis Energy Limited
Company typePublic
NZX: GNE
ASX: GNE
IndustryEnergy
PredecessorElectricity Corporation of New Zealand
Founded1999 (1999); 25 years ago
Headquarters
Auckland
,
New Zealand
Key people
Barbara Chapman, Chairman
Malcom Johns, Chief Executive
ServicesElectricity, Natural Gas, LPG
RevenueIncrease NZ$3,040M[1]
Increase NZ$407M[1]
Decrease NZ$131M[2]
Total assetsIncrease NZ$3,778M[3]
Total equityIncrease NZ$1,991M[3]
OwnerNew Zealand Government (51%)
Number of employees
860[3]
Websitegenesisenergy.co.nz

Genesis Energy Limited, formerly Genesis Power Limited is a New Zealand publicly listed electricity generation and electricity, natural gas and LPG retailing company. It was formed as part of the 1998–99 reform of the New Zealand electricity sector, taking its generation capacity from the breakup of the Electricity Corporation of New Zealand (ECNZ) and taking retail customers from three local power boards in the Lower North Island. The New Zealand Government owns a 51% share of the company.

Genesis Energy is the largest electricity and natural gas retailer in New Zealand with 26% and 39% market share respectively in the 2015–2016 financial year. In 2015, Genesis produced 14% of New Zealand's electricity,[4] and is the third largest electricity generating company in New Zealand in terms of MW capacity, GWh generation and revenue (see comparison table at New Zealand electricity market).

  1. ^ a b Cite error: The named reference :1 was invoked but never defined (see the help page).
  2. ^ Cite error: The named reference :0 was invoked but never defined (see the help page).
  3. ^ a b c Genesis Energy (September 2016). "Annual Report 2016" (PDF). NZSX.[permanent dead link]
  4. ^ "Energy in New Zealand". MBIE. August 2016. Archived from the original on 15 February 2016. Retrieved 8 November 2016.