GNE - Genesis Energy

[Jiggs]

Here at Ohakune we are paying about 20c a kWh for electricity from Pulse Energy, and another 20c to TLC for breaking the voltage down to 11,000 volts, then delivering it to our house.

But the pulp mill and timber mill nearby have had to close down (temporarily?) because spot bulk prices have suddenly gone from 2-10-20 cents a kWh, or an average of about $10 per MWh, to $600-$700 per MWh, (more home heating, more EVs, but less water in hydro lakes) making the production for export of pulp and dressed lumber uneconomic.

Nevertheless, power retailers are bound by contract to keep delivering power to consumers, for far less than 70c a kWh. So will Pulse and all the other power retailers make huge losses, while Genesis, Contact et al. make huge profits, sending their share prices sky high?