GNE
13/08/2015 13:02
GENERAL
NOT PRICE SENSITIVE
REL: 1302 HRS Genesis Energy Limited (NS)
GENERAL: GNE: Genesis Energy response to Solid Energy announcement
Genesis Energy today noted that Solid Energy has announced it has been placed
into voluntary administration. Solid Energy is a supplier of fuel to the
Huntly Power Station.
As a result of Solid Energy's announcement, Genesis Energy is considering a
number of available options including stopping further coal deliveries from
Solid Energy under the terms of the supply agreement.
Last week Genesis Energy announced it would close the two remaining coal
fired units at Huntly by the end of 2018, unless there is a significant
change in electricity market conditions by the planned closure date. The
timing of the Genesis Energy announcement was to ensure transparency and
certainty in the wholesale electricity markets of the Company's long term
plans.
Genesis Energy currently has more than 700,000 tonnes of coal in its own
stockpiles at the Huntly Power Station and has ample contracted gas supplies
to support continued operation of the coal/gas-fired units during their
remaining operational life. Coal imports from Indonesia ceased in 2013.
ENDS
For media enquiries, please contact:
Richard Gordon
Public Affairs Manager
Genesis Energy
P: 09 951 9280 M: 021 681 305
For investor relations enquiries, please contact:
Rodney Deacon
Group Manager Strategy and Investor Relations
Genesis Energy
P: 09 571 4970
M: 021 631 074
End CA:00268376 For:GNE Type:GENERAL Time:2015-08-13 13:02:04
