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Genesis Energy Limited, formerly Genesis Power Limited is a
New Zealand New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island coun ...
publicly listed
electricity generation Electricity generation is the process of generating electric power from sources of primary energy. For utilities in the electric power industry, it is the stage prior to its delivery ( transmission, distribution, etc.) to end users or its s ...
and
electricity Electricity is the set of physical phenomena associated with the presence and motion of matter that has a property of electric charge. Electricity is related to magnetism, both being part of the phenomenon of electromagnetism, as describe ...
,
natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbon d ...
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 The Electricity Corporation of New Zealand Ltd (ECNZ) is a New Zealand state-owned enterprise (SOE) formed on 1 April 1987, as a transition entity in the process of deregulating the New Zealand electricity market. Most of ECNZ's remaining liabi ...
(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, 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 The New Zealand electricity market (NZEM) is a decentralised electricity market regulated by the Electricity Industry Participation Code administered by the Electricity Authority (EA). The authority was established in November 2010 to replace t ...
).


History

Genesis Energy began business on 1 April 1999, after the reform of the New Zealand electricity market and the breakup of the Electricity Corporation of New Zealand (ECNZ). It took over the
Huntly Power Station The Huntly Power Station is the largest thermal power station in New Zealand and is located in the town of Huntly in the Waikato. It is operated by Genesis Energy Limited, a publicly listed company (currently 51% owned by the NZ Government). ...
, Tongariro Power Scheme and Waikaremoana Hydro Scheme from ECNZ, and the
Hau Nui Wind Farm The Hau Nui Wind Farm is a 15-turbine wind farm located approximately south-east of Martinborough, in the South Wairarapa District of New Zealand. Hau Nui (Māori for "big wind") was the first wind farm built in New Zealand. The wind farm was b ...
and the Kourarau Hydro Scheme from Wairarapa Electricity. It also inherited the retail arms of
Powerco Powerco is the second-largest gas and largest electricity distributor in New Zealand. It is one of only two companies to distribute both electricity and natural gas through their network (the other being Vector Limited). Its network delivers el ...
, Central Power and Wairarapa Electricity, while Powerco and Central Power concentrated on electricity distribution (the distribution arm of Wairarapa Electricity merged with Powerco on the same day). During 2000 to 2002 Genesis Energy purchased several electricity and gas retailing entities, following changes to laws governing the electricity industry. These included electricity retail businesses of
Todd Energy The Todd Corporation is a large private New Zealand company with a value of $4.3 billion, owned and controlled by the Todd family and headquartered in Wellington, New Zealand. The corporation is currently led by chairman of the board, Henry Tait ...
, and electricity and gas customers from NGC (now
Vector Limited Vector Limited is an electricity and gas distribution company in Auckland, New Zealand. It is the national number one provider of electricity distribution, number one provider of electricity and gas metering and number two wholesaler of LPG. ...
) and Energy Online. In September 2013, the company announced a change of name from Genesis Power Limited to Genesis Energy Limited. On 17 April 2014, the National Government sold a 49% stake in Genesis Energy through an
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...
at NZ$1.55 per share. In February 2018, Genesis Energy announced a pathway to a coal-free electricity future for New Zealand by 2030.


Power stations

Genesis Energy owns and operates a diverse portfolio of assets that includes hydroelectric, thermal and wind generation. Genesis Energy operates three
hydroelectric Hydroelectricity, or hydroelectric power, is electricity generated from hydropower (water power). Hydropower supplies one sixth of the world's electricity, almost 4500 TWh in 2020, which is more than all other renewable sources combined an ...
generating stations on the (361.8 MW) Tongariro Power Scheme – Rangipo (120 MW), Tokaanu (240 MW) and Mangaio (1.8 MW). It also operates the (138 MW) Lake Waikaremoana hydro scheme, comprising the Tuai (60 MW), Kaitawa (36 MW) and Piripaua (42 MW) stations. On 1 June 2011, Genesis Energy purchased Tekapo A (27 MW) and B (160 MW) hydroelectric power stations from
Meridian Energy Meridian Energy Limited is a New Zealand electricity generator and retailer. The company generates the largest proportion of New Zealand's electricity, generating 35 percent of the country's electricity in the year ending December 2014, and is ...
. Genesis Energy operates the
Huntly Power Station The Huntly Power Station is the largest thermal power station in New Zealand and is located in the town of Huntly in the Waikato. It is operated by Genesis Energy Limited, a publicly listed company (currently 51% owned by the NZ Government). ...
, a (953 MW) coal- and gas-fired thermal plant on the
Waikato River The Waikato River is the longest river in New Zealand, running for through the North Island. It rises on the eastern slopes of Mount Ruapehu, joining the Tongariro River system and flowing through Lake Taupō, New Zealand's largest lake. It th ...
. In addition to two gas/coal-fired generating units, Huntly has a 50 MW open-cycle gas turbine unit that runs as base load, and a (403 MW)
combined cycle A combined cycle power plant is an assembly of heat engines that work in tandem from the same source of heat, converting it into mechanical energy. On land, when used to make electricity the most common type is called a combined cycle gas tur ...
gas turbine A gas turbine, also called a combustion turbine, is a type of continuous flow internal combustion engine. The main parts common to all gas turbine engines form the power-producing part (known as the gas generator or core) and are, in the directio ...
commissioned in June 2007 as a NZ$500 million project. Huntly also has a third coal unit, which can be taken out of storage within 90 days. The coal units are mainly used as hydro firming when New Zealand is in a dry winter. The first of the four coal-fired units at the Huntly Power Station was taken out of service in late 2012. A second unit was placed into long-term storage in December 2013 and permanently retired in June 2015. The company also operates the (7.3 MW) Hau Nui
windfarm A wind farm or wind park, also called a wind power station or wind power plant, is a group of wind turbines in the same location used to produce electricity. Wind farms vary in size from a small number of turbines to several hundred wind turb ...
in the North Island.


Future generation developments


Castle Hill

Genesis Energy has resource consents for a wind farm at Castle Hill, 20 km north-east of Masterton in the northern Wairarapa. It is planning up to 286 turbines over a area, with a total installed capacity of up to 860 MW and potentially generating over 2000 GWh per year.


Slopedown Wind Farm

In 2010, Genesis Energy purchased the Slopedown wind from Wind Prospect CWP Ltd. It is 15 km east of Wyndham. Genesis Energy has not yet applied for resource consents.


Community and sustainability investments


Science Based Targets

Genesis has created Science Based Targets to align their sustainability goals to. They aim to reduce scope 1 and 2 emissions by 36% and reduce scope 3 emissions 21%.


School-gen and School-gen Trust

Genesis Energy began its School-gen programme in 2006 to teach students about solar power, renewable energy and energy efficiency. The School-gen program has created extensive teaching resources, including Maker Projects and eBooks that are free for any school in New Zealand. It has also provided 92 New Zealand schools with either a 2, 4 or 6 kilowatt photovoltaic (PV) solar panel system, at no cost to the schools. The largest solar array on a School-gen school is 16 kilowatts on Vauxhall School in Auckland. The PV system allows these schools to generate a portion of their electricity from the sun while also teaching students about solar energy.


Duffy Books in Schools

Duffy Books in Homes aims to encourage reading and supports students in lower socio-economic areas where the children are more likely to come from homes without access to books.


Whio Forever Project

Genesis Energy has partnered with the New Zealand Department of Conservation to help save the endangered native ''whio'' or
blue duck The blue duck or whio (''Hymenolaimus malacorhynchos'') is a member of the duck, goose and swan family Anatidae endemic to New Zealand. It is the only member of the genus ''Hymenolaimus''. Its exact taxonomic status is still unresolved, b ...
. The Whio Forever Project includes a national recovery plan that will double the number of fully operational secure breeding sites throughout New Zealand and boost pest control efforts.


Curtain Bank

Genesis Energy is the major sponsor of the Wellington Curtain Bank and the Christchurch Curtain Bank. The curtain banks take donated second-hand curtains or fabric and re-cut and line them for distribution to households in need. This helps households in saving money on their energy bills and to create warmer, healthier homes. Some retailers offer a service in which they take down and donate your old curtains when installing new ones.


Ngā Ara Creating Pathways

This Genesis developed programme creates transformational education, training and employment opportunities to prepare young people in our local communities for the future of work.


POU at Huntly

POU is a marae-owned entity that delivers facilities maintenance services to Huntly Power Station.


Retail focus areas

*Genesis is focusing on electricity management tools for its customers including their app that has been around since 2016 - app functions include energy usage graphs, bill payments and moving home tools *The Genesis website was updated in 2022 and focuses messaging on Energy IQ, joining and moving house through their website content


Other developments

*Genesis Energy owns a 46% interest in the Kupe natural gas field. *Genesis Energy is a founding member of Awatea, the New Zealand marine energy association. *The Gasbridge LNG project was a 50:50 joint venture between Genesis and
Contact Energy Contact Energy Limited is a New Zealand electricity generator, a wholesaler of natural gas, and a retailer of electricity, natural gas, broadband and LPG. It is the second-largest electricity generator in New Zealand (after Meridian Energy), g ...
.


Subsidiaries


Frank Energy (previously Energy Online)

Genesis Energy purchased Energy Online in December 2002 from the Newcall Group Limited. After continued growth Energy Online now services 70,000 customers with a primary focus on retailing energy services to an expanding customer base in the North Island. Energy Online was rebranded to Frank Energy in 2021.


Infogen

Genesis energy retailed internet services to its customers through its Infogen service. The service was outsourced and provided by Orcon until it was purchased by Orcon in 2009.


See also

*
Electricity sector in New Zealand The electricity sector in New Zealand uses mainly renewable energy, such as hydropower, geothermal power and increasingly wind energy. , 82% of electricity is generated from renewable sources, making New Zealand one of the countries with the lo ...


References


External links

* {{authority control Electric power companies of New Zealand Government-owned companies of New Zealand Companies based in Auckland Companies listed on the New Zealand Exchange New Zealand companies established in 1999