Genesis Energy Limited
Genesis Energy Limited, formerly Genesis Power Limited is a New Zealand publicly listed electricity generation and electricity, natural gas and LPG retailing company. It was formed as part of the 1998–99 reform of the New Zealand electricity sector, taking its generation capacity from the breakup of the Electricity Corporation of New Zealand (ECNZ) and taking retail customers from three local power boards in the Lower North Island. The New Zealand Government owns a 51% share of the company.
| Company type | Public |
|---|---|
Traded as | NZX: GNE ASX: GNE |
| Industry | Energy |
| Predecessor | Electricity Corporation of New Zealand |
| Founded | 1999; 25 years ago |
| Headquarters | , New Zealand |
Key people | Barbara Chapman, Chairman Malcom Johns, Chief Executive |
| Services | Electricity, Natural Gas, LPG |
| Revenue | NZ$2,011M |
| NZ$335M | |
Net income | NZ$184M |
| Total assets | NZ$3,778M |
| Total equity | NZ$1,991M |
| Owner | New Zealand Government (51%) |
Number of employees | 860 |
| Website | genesisenergy |
Genesis Energy is the largest electricity and natural gas retailer in New Zealand with 26% and 39% market share respectively in the 2015–2016 financial year. In 2015, Genesis produced 14% of New Zealand's electricity, and is the third largest electricity generating company in New Zealand in terms of MW capacity, GWh generation and revenue (see comparison table at New Zealand electricity market).