Looked up the latest liquidations, cant see any company that would use wholesale power. Any ideas out there. Maybe a receivership, which means there is a potential to recover doubtful debt.
FY24 Annual report has trade receivables at $33m, compared to FY23 $24m
<a href="https://imgbb.com/"><img src="https://i.ibb.co/M7KzCyj/Mawana.jpg" alt="Mawana" border="0"></a>
IFT has probably already instructed Manawa to put any planned capital expenditure on fancy wind farms on ice to preserve cash and keep debt levels under control.
I bet this is a first for any generator in the history of N Z , so much for deregulation of the electricity in order to introduce industry efficiencies !!!!
I bet this is a first for any generator in the history of N Z , so much for deregulation of the electricity in order to introduce industry efficiencies !!!!
I suggest the current deficiencies are significantly attributable to Jacinda (gas exploration ban) and historic Tiwai Point prevarication by Rio Tinto (electricity market investment uncertainty). Combine these factors and we are where we are just now.
I suspect the downgrade will be caused more by the second item "adverse market conditions in the wholesale energy markets." than the first "recovery of a customer receivable".
Considering Manawa only have wholesale and commercial customers with demand that probably doesn't exceed their own generation this is a bit weird.
Did those whizz kids at Infratil encourage Manawa to do a bit of gambling in the electricity markets to juice profits?
I suspect the downgrade will be caused more by the second item "adverse market conditions in the wholesale energy markets." than the first "recovery of a customer receivable".
Considering Manawa only have wholesale and commercial customers with demand that probably doesn't exceed their own generation this is a bit weird.
Did those whizz kids at Infratil encourage Manawa to do a bit of gambling in the electricity markets to juice profits?
That’s what I was wondering, how could they lose out in this market when they are long generation!
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