Manawa posts loss after ‘perfect storm’
Hydro generator in the red at the half year, dividend halved.
Manawa operates 25 hydro generation stations and one diesel-powered peaker at Bream Bay.
The record high price of power this winter was a double-edged sword for hydro generator Manawa Energy as the revenue boost was overwhelmed by the cost of power it had to buy in the half year to September.
The result was a net loss for the half of $3.3 million, exacerbated by a $17m payment default
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