$95 million, compared to $70m the previous year<\/a>.<\/p>\n![\"Genesis](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/02\/4M19PPL_image_crop_133621.jpeg\")
<\/p>\n
\nChief executive Malcolm Johns.
\nPhoto: Supplied \/ Genesis Energy \/ \u00a9 Brett Phibbs \/ PhibbsVisuals Limited\n<\/p>\n
Chief executive Malcolm Johns said increased hydro-generation across the country allowed it to buy cheaper electricity on the wholesale market, divert gas towards industrial customers, and reduce expensive coal and gas-fired generation at Huntly.<\/p>\n
That resulted in the company posting record operating earnings.<\/p>\n
Johns then told Newstalk ZB there were no plans “in the immediate future” for price increases, but customers have received letters as recently as Saturday advising them of just that.<\/p>\n
Genesis Energy chief revenue officer Stephen England-Hall told Checkpoint there were price changes happening at the end of March – but Johns was talking about price increases “beyond what is already in circulation”.<\/p>\n
Despite Johns saying there wouldn’t be any, England-Hall said he couldn’t guarantee there would be no further price increases in 2026.<\/p>\n
Where the majority of customers would see an increase of between 10 and 20 percent in their bill, some would see an increase of 30 percent.<\/p>\n
![\"Tiaki](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/02\/4N3EBQS_074A5287_21966.jpeg\")
<\/p>\n
\nStephen England-Hall.
\nPhoto: RNZ \/ Rebekah Parsons-King\n<\/p>\n
England-Hall said “no one was very happy or thrilled” about price increases but inflation was driving it and it was beyond their control.<\/p>\n
“Over the last few years we’ve had price increases that we’ve tried to hold.<\/p>\n
“Since 2021, which some of us will try to forget, but 2021 until today, price increases have tried to be managed relatively efficiently and effectively, we’ve tried to not pass through full inflation costs to customers because we know that things have been challenging.”<\/p>\n
England-Hall said he believed Genesis was a fair offer in the market and data showed it was in the middle of the market with some companies cheaper, some more expensive.<\/p>\n
“I do believe we are a fair proposition,” he said.<\/p>\n
Sign up for Ng\u0101 Pitopito K\u014drero<\/a>, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.<\/p>\n","protected":false},"excerpt":{"rendered":"Photo: Supplied \/ Genesis Energy Genesis Energy cannot guarantee its customers won’t receive further price increases this year.…\n","protected":false},"author":2,"featured_media":299290,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[48,47,111,43,139,69,49,46,44,45],"class_list":{"0":"post-299289","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-zealand","8":"tag-audio","9":"tag-current-affairs","10":"tag-new-zealand","11":"tag-news","12":"tag-newzealand","13":"tag-nz","14":"tag-podcasts","15":"tag-public-radio","16":"tag-radio-new-zealand","17":"tag-rnz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/299289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=299289"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/299289\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/299290"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=299289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=299289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=299289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"Genesis](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/02\/4KL1PG2_Genesis_head_office_Auckland_medres_png.jpeg\")
<\/p>\n