Mercury Energy's earnings have fallen on the back of weaker renewable electricity generation, and its bottom-line profit has taken a hit.

The company's profit has plunged from $290 million to just $1 million, due to tough power generation conditions.

Despite this, Mercury Energy CEO Stew Hamilton is hopeful ahead of another financial year.

"We're investing heavily in new power plants - we're investing about $1 billion in new power plants at the moment. That's from the top of the north to the bottom of the south."

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Mercury Energy's earnings have fallen on the back of weaker renewable electricity generation, and its bottom-line profit has taken a hit.
The company's profit has plunged from $290 million to just $1 million, due to tough power generation conditions.
Despite this, Mercury Energy CEO Stew Hamilton is hopeful ahead of another financial year.
"We're investing heavily in new power plants - we're investing about $1 billion in new power plants at the moment. That's from the top of the north to the bottom of the south."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Stew Hamilton: Mercury Energy CEO on the company's recent drop in profitability

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/403b0dd9-580e-40a1-b550-b33e0073d9b9/transcript

On the Heather du Plessis-Allan Drive Full Show Podcast for Friday, 27 February, 2026, we talk to the secondary school teachers' union about teacher shortages.

A Wall Street Journal reporter on the significance of Netflix walking away from a deal with Warner Brothers Discovery.

Weta maestro Sir Richard Taylor tells us about his new robot project after receiving his latest international award.

And on the Sports Huddle, Nicky Styris and Jeff McTainsh discuss the mess the Wellington Phoenix are in.

Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.

LISTEN ABOVE

On the Heather du Plessis-Allan Drive Full Show Podcast for Friday, 27 February, 2026, we talk to the secondary school teachers' union about teacher shortages.
A Wall Street Journal reporter on the significance of Netflix walking away from a deal with Warner Brothers Discovery.
Weta maestro Sir Richard Taylor tells us about his new robot project after receiving his latest international award.
And on the Sports Huddle, Nicky Styris and Jeff McTainsh discuss the mess the Wellington Phoenix are in.
Get the Heather du Plessis-Allan Drive Full Show Podcast every weekday evening on iHeartRadio, or wherever you get your podcasts.
LISTEN ABOVE

Full Show Podcast: 27 February 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/f9c71050-3bab-402b-a3e1-b3fe00662eff/transcript

Tell me if I’m wrong, but it seems to me that every single year the Anglican Church in this country delays repairing the Christchurch Cathedral, the public cares a little less about seeing it restored. And yet again, the Anglicans are asking for money to fix the thing.

You might recall that 18 months ago they asked the government for $60 million. They got a no. So this time, they’re targeting Christchurch ratepayers. They say they’ve stopped any meaningful fundraising and they’re asking ratepayers to plug the gap — a gap of about $45 million. This will now go out to consultation. If ratepayers say yes, the additional cost will simply be added to rates. Whatever your rates are now, expect that cost on top.

I don’t rate the Anglicans’ chances here because rates in Christchurch — like everywhere in the country — are already at record highs. And in Christchurch, they’re proposed to rise another 8% this year. On top of that, the Canterbury Museum has also just asked for another $260 million for its rebuild. There is not a lot of spare money around.

I have to say, as I did 18 months ago, I still find it slightly cheeky of the Anglicans to do this when they own $3 billion worth of assets in this country alone. And that valuation was done six years ago — with inflation, they almost certainly own more now. There is enough there to pay for the entire reconstruction of the cathedral, not just the first stage they’re talking about.

Every year the Anglicans spend trying to find someone else to pay for the restoration of their church, public appetite to restore it must surely diminish. Because every year that passes, more new venues open in Christchurch. Whether small — restaurants, bars, shops — or large, like the convention centre or the new stadium, the city is rebuilding. It’s becoming increasingly beautiful and increasingly fun.

I know the cathedral can’t be replaced by a stadium or a convention centre or a shop. It has a special place for Christchurch. But the Anglicans risk that special place being diluted every single time another special place opens up.

LISTEN ABOVE

Tell me if I’m wrong, but it seems to me that every single year the Anglican Church in this country delays repairing the Christchurch Cathedral, the public cares a little less about seeing it restored. And yet again, the Anglicans are asking for money to fix the thing.
You might recall that 18 months ago they asked the government for $60 million. They got a no. So this time, they’re targeting Christchurch ratepayers. They say they’ve stopped any meaningful fundraising and they’re asking ratepayers to plug the gap — a gap of about $45 million. This will now go out to consultation. If ratepayers say yes, the additional cost will simply be added to rates. Whatever your rates are now, expect that cost on top.
I don’t rate the Anglicans’ chances here because rates in Christchurch — like everywhere in the country — are already at record highs. And in Christchurch, they’re proposed to rise another 8% this year. On top of that, the Canterbury Museum has also just asked for another $260 million for its rebuild. There is not a lot of spare money around.
I have to say, as I did 18 months ago, I still find it slightly cheeky of the Anglicans to do this when they own $3 billion worth of assets in this country alone. And that valuation was done six years ago — with inflation, they almost certainly own more now. There is enough there to pay for the entire reconstruction of the cathedral, not just the first stage they’re talking about.
Every year the Anglicans spend trying to find someone else to pay for the restoration of their church, public appetite to restore it must surely diminish. Because every year that passes, more new venues open in Christchurch. Whether small — restaurants, bars, shops — or large, like the convention centre or the new stadium, the city is rebuilding. It’s becoming increasingly beautiful and increasingly fun.
I know the cathedral can’t be replaced by a stadium or a convention centre or a shop. It has a special place for Christchurch. But the Anglicans risk that special place being diluted every single time another special place opens up.
LISTEN ABOVE

Perspective with Heather du Plessis-Allan: When will the Christchurch Cathedral get repaired?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/25d096f4-4349-4eed-8fc0-b3fe00618e7d/transcript

Premium apple demand is at the core of a strong financial result for T&G Global.

Its revenue has increased by 14% to $1.6 billion and its net profit after tax is $16 million, up from a loss of $9.9m.

Global Chief Executive Gareth Edgecombe told Heather du Plessis-Allan that the Chinese and US markets in particular have been buying more of the premium Jazz, Jolie and Envy apples.

LISTEN ABOVE

Premium apple demand is at the core of a strong financial result for T&amp;G Global.
Its revenue has increased by 14% to $1.6 billion and its net profit after tax is $16 million, up from a loss of $9.9m.
Global Chief Executive Gareth Edgecombe told Heather du Plessis-Allan that the Chinese and US markets in particular have been buying more of the premium Jazz, Jolie and Envy apples.
LISTEN ABOVE

Gareth Edgecombe: T&G Global Chief Executive discusses strong financial result from premium apple demand

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2b4a95df-03a4-4445-a6ef-b3fe005d7adf/transcript

Stew Hamilton: Mercury Energy CEO on the company's recent drop in profitability

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