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)

<ul><li>Another wet month caps FY23 for the big four generator/retailers: June 2023 was the 12th month in a row where North Island hydro generation was at least +19% above average — it has been a record breaking hydro generating year.</li><li>Desperately seeking certainty: The carbon market is desperate for some certainty with June the sixth out of the last seven months when carbon unit prices have fallen.</li><li>Fonterra spruiks future electricity demand: Fonterra sent out requests for electricity supply from 2026 for its dairy factories.</li></ul>

Another wet month caps FY23 for the big four generator/retailers: June 2023 was the 12th month in a row where North Island hydro generation was at least +19% above average — it has been a record breaking hydro generating year.Desperately seeking certainty: The carbon market is desperate for some certainty with June the sixth out of the last seven months when carbon unit prices have fallen.Fonterra spruiks future electricity demand: Fonterra sent out requests for electricity supply from 2026 for its dairy factories.

Power Points: Carbon Confidence Crisis — July 2023