Genesis Energy FY27 Q1 Performance Report
Key points
- Genesis delivered a strong start to FY27 with favourable market conditions
- Customer numbers increased to 493,450, reflecting the repositioning of the portfolio
- Huntly Battery Energy Storage System Stage 1 commissioned and Leeston Solar Farm reached FID
Full summary
Genesis Energy delivered a robust start to FY27, leveraging favourable market conditions and strong national hydro storage to minimize thermal generation and source electricity from the market. The quarter marked significant milestones in the delivery of the FY32 Growth Plan, including the commissioning of the Huntly Battery Energy Storage System Stage 1 and reaching Financial Investment Decision (FID) on the Leeston Solar Farm. Customer numbers grew to 493,450, reflecting the strategic repositioning of the portfolio towards higher-quality margins. Thermal generation decreased by 620 GWh, and Unit 5 remained idled. Genesis also strengthened its gas position with 11.4 PJ of third-party gas contracted from March 2027 to December 2029 and exercised the Kupe right of first refusal, securing up to 8.6 PJ of additional gas from January 2027 to December 2028.
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