BUZZ-NZ's Genesis Energy jumps on deal to explore Huntly Power Station's potential

Reuters

Feb 12, 2025

** Genesis Energy GNE.NZ rises 1.8% to NZ$2.31, highest since December 27, 2024

** Earlier in the day, stock jumped as much as 2.2% to post biggest intraday pct gain since February 5

** Diversified energy co and its Kiwi peers Mercury NZ MCY.NZ, Meridian Energy MEL.NZ, and Contact Energy CEN.NZ exploring ways to bolster energy security for winters

** Says all four power cos have an agreement to probe Huntly Power Station's potential to manage "dry-year risk" and improve long-term system security

** Adds new commercial structure, which includes pricing, cost and strategic fuel reserve to cover disruptions to other fuel supplies, could be operational by 2026

** Stock fell 2.7% in January

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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GNE.NZ rises 1.8% to NZ$2.31, highest since December 27, 2024** Earlier in the day, stock jumped as much as 2.2% to post biggest intraday pct gain since February 5** Diversified energy co and its Kiwi peers Mercury NZ MCY.NZ, Meridian Energy MEL.NZ, and Contact Energy CEN.NZ exploring ways to bolster energy security for winters** Says all four power cos have an agreement to probe Huntly Power Station's potential to manage \"dry-year risk\" and improve long-term system security** Adds new commercial structure, which includes pricing, cost and strategic fuel reserve to cover disruptions to other fuel supplies, could be operational by 2026** Stock fell 2.7% in January (Reporting by Kumar Tanishk in Bengaluru) 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