That's reassuring. When Kupe came online in 2009 (after a 13 year gestation!) the initial estimates were for the field to be around until 2027 I recall.
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Ran the numbers this afternoon on the whole look through dividend thing to see FY19 yield investment case at $2.45 cum divvy. Got 9.5% gross for FY19.
Pretty damm impressive considering it gets upgraded for inflation each year. Free investment lunch on offer for dividend hounds at today's closing price in my opinion.
Disc: I topped up at the close at $2.45.
Looks like hydro lakes are down a bit. This is now the second week where both Huntly coal/gas burning Rankine Units have been operating 24/7.
https://www.transpower.co.nz/power-system-live-data
https://www2.electricityinfo.co.nz/
And the rain that they hoped for maybe did not quite fall in the quantities predicted over the last few days? I could be wrong, but the lakes are still pretty low, at about 80% of average and 44% of capacity. Another 2 weeks of dry weather could make things interesting.
Jantar, what is causing the gas shortage?
I wondered that too. I see Genesis' last quarterly up date mentioned supply issues from the Pohokura field. Is it more of the same?
https://en.wikipedia.org/wiki/Pohokura_field
Energy Link reports that:
Spot prices remain high, driven it seems by a combination of factors including e3p output constrained below typical levels, a long outage on one unit at the Stratford peaker, and low output from southern hydro lakes especially Tekapo and Pukaki.
https://www.energylink.co.nz/publications/energy-trendz-daily