Huntly Firming Options

Genesis Energy has released a document outlining background information and an indicative term sheet for Huntly Firming Options (HFOs). The Huntly Firming Options will only be available to certain wholesale investors within the meaning of the Financial Markets Conduct Act 2013. Genesis Chief Executive, Malcolm Johns, said "Huntly is one of New Zealand's key bench players when it comes to energy security in a high renewables grid. As recent events have demonstrated, having a thermal capacity that is commercially supported will be increasingly important to back-up intermittent wind and solar generation. This is a market-wide challenge, and the HFOs provide an opportunity to secure some of that solution as we all invest to build a high renewables grid". The Huntly Firming Options information document is attached. ENDS For investor relations enquiries, please contact: Tim McSweeney GM Investor Relations & Market Risk M: 027 200 5548 For media enquiries, please contact: Estelle Sarney External Communications Manager M: 027 269 6383 End CA:00430950 For:GNE Type:MKTUPDTE Time:2024-05-13 08:30:15