Power company profits: It’s not the players, it’s the game – Huia Burt

Opinion byHuia BurtNZ Herald·26 Sep, 2026 04:00 AM6 mins to readHuia Burt is chief executive of Electric KiwiGenesis, Mercury, Meridian and Contact own most of the existing hydro, thermal and geothermal generation in New Zealand. Photo / NZMENew Zealand’s four big power companies reported combined statutory net profits of $959 million for their latest financial years, equivalent to about $500 for every household in the country. And that isn’t a one-off. While power company net profit can fluctuate sharply because of hydro conditions, asset revaluations, and non-cash