New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Thematic (Sector/Industry)

New zealand Energy / Thematic (Sector/Industry)

<div><div><ul><li>It has been a tough week in the electricity sector, but we have been encouraged by the swift response, with Methanex redirecting its gas supplies to Contact Energy (CEN) and Genesis Energy (GNE) the most significant example.</li><li>With the big changes in wholesale electricity prices, the continued falls in hydro storage (now at 44% of average nationally), and the likes of the Methanex gas deal, we have revised our near-term forecasts.</li><li>Thermal generators, CEN and GNE get a modest increase, but we have trimmed our Mercury (MCY) and Meridian Energy (MEL) forecasts. </li></ul></div></div>

It has been a tough week in the electricity sector, but we have been encouraged by the swift response, with Methanex redirecting its gas supplies to Contact Energy (CEN) and Genesis Energy (GNE) the most significant example.With the big changes in wholesale electricity prices, the continued falls in hydro storage (now at 44% of average nationally), and the likes of the Methanex gas deal, we have revised our near-term forecasts.Thermal generators, CEN and GNE get a modest increase, but we have trimmed our Mercury (MCY) and Meridian Energy (MEL) forecasts. 

Electricity Sector - Weathering the Drought — Outlook Update