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

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, 13 March, 2026, we look at whether people are over-reacting by panic-buying petrol.

The Crusaders chief executive says media ban ... what media ban?

An Auckland University researcher tells us why you shouldn't mow your lawn.

And on the Sports Huddle, Lavina Good and Paul Allison discuss whether Liam Lawson will last the Formula One season.

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, 13 March, 2026, we look at whether people are over-reacting by panic-buying petrol.
The Crusaders chief executive says media ban ... what media ban?
An Auckland University researcher tells us why you shouldn't mow your lawn.
And on the Sports Huddle, Lavina Good and Paul Allison discuss whether Liam Lawson will last the Formula One season.
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: 13 March 2026 

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/425c185d-d5c1-40ad-8836-b40c00663c25/transcript

Senior political correspondent Barry Soper joined Heather du Plessis-Allan to wrap the political week. 

The big topics this past week were former Chatham Islands Council CEO Paul Eagle's serious fraud office inquiry, reflecting on last Friday's Luxon chaos, and the Covid inquiry. 

LISTEN ABOVE

Senior political correspondent Barry Soper joined Heather du Plessis-Allan to wrap the political week.&nbsp;
The big topics this past week were former Chatham Islands Council CEO Paul Eagle's serious fraud office inquiry, reflecting on last Friday's Luxon chaos, and the Covid inquiry.&nbsp;
LISTEN ABOVE

Barry Soper: Senior political correspondent talks Paul Eagle, election predictions, and the covid inquiry

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/cc635118-fb71-4c65-afe5-b40c0068fbd0/transcript

Okay, here’s a prediction for you, because there have been headlines today about petrol stations running out of fuel because of panic buying: people will panic buy petrol this weekend.

Yesterday was discount day at Gull so things went a bit crazy.

Gull Ōtāhuhu ran out of 95; Gull Greville Road, Gull Henderson, Gull Torbay, Gull Takanini and Gull Takapuna were also out of at least one type of fuel. Two pumps ran dry at supermarkets in Palmerston North as well.

Here’s my second prediction: there will be tellings-off.

Cheryl from the Bay of Plenty is going to see some punter filling multiple containers and she’s going to get angry about it. 

Actually, that’s not even a prediction — because it’s already happened.

Cheryl went to the Gull in Whakamarama and saw a van filling up multiple large containers causing a 20-minute wait for other customers. She spoke to the media and called it unfair.

Now, the thing is: panic buying is obviously not a good idea for the collective good. We’ve been here before with the toilet paper during COVID, haven’t we? It’s not a good idea for everyone as a whole — but it is a completely rational thing to do from a selfish perspective if you’re just looking after yourself and your family.

So you should expect people to do it.

And before you tell anyone off for doing it, remember: we don’t know their personal circumstances.

We don’t know what’s made them go down to the petrol station that day to fill up their car and multiple containers. We don’t know whether they’re running essential generators back on the farm, whether they need to be sure they have enough fuel for the next few days.

And more importantly, we don’t know how tight their budgets are.

You and I might be able to absorb a 30-cent rise in the price of fuel, but if someone only has a few dollars left at the end of the week, and they’re driving in from Pōkeno to the city centre every day, they might not have the ability to absorb that kind of increase.

They may in fact need to buy as much as they can while it’s cheap.

No one is to blame for what’s happening at the moment. This is normal human behaviour. The media is just doing its job by reporting on the fuel increases people want to read about.

The government is being as careful in its messaging as it can be. And even the punter filling up is only doing the rational thing.

So what I’d say is: expect this to continue for as long as we’re talking about possible shortages and price rises.

LISTEN ABOVE

Okay, here’s a prediction for you, because there have been headlines today about petrol stations running out of fuel because of panic buying: people will panic buy petrol this weekend.
Yesterday was discount day at Gull so things went a bit crazy.
Gull Ōtāhuhu ran out of 95; Gull Greville Road, Gull Henderson, Gull Torbay, Gull Takanini and Gull Takapuna were also out of at least one type of fuel. Two pumps ran dry at supermarkets in Palmerston North as well.
Here’s my second prediction: there will be tellings-off.
Cheryl from the Bay of Plenty is going to see some punter filling multiple containers and she’s going to get angry about it.&nbsp;
Actually, that’s not even a prediction — because it’s already happened.
Cheryl went to the Gull in Whakamarama and saw a van filling up multiple large containers causing a 20-minute wait for other customers. She spoke to the media and called it unfair.
Now, the thing is: panic buying is obviously not a good idea for the collective good. We’ve been here before with the toilet paper during COVID, haven’t we? It’s not a good idea for everyone as a whole — but it is a completely rational thing to do from a selfish perspective if you’re just looking after yourself and your family.
So you should expect people to do it.
And before you tell anyone off for doing it, remember: we don’t know their personal circumstances.
We don’t know what’s made them go down to the petrol station that day to fill up their car and multiple containers. We don’t know whether they’re running essential generators back on the farm, whether they need to be sure they have enough fuel for the next few days.
And more importantly, we don’t know how tight their budgets are.
You and I might be able to absorb a 30-cent rise in the price of fuel, but if someone only has a few dollars left at the end of the week, and they’re driving in from Pōkeno to the city centre every day, they might not have the ability to absorb that kind of increase.
They may in fact need to buy as much as they can while it’s cheap.
No one is to blame for what’s happening at the moment. This is normal human behaviour. The media is just doing its job by reporting on the fuel increases people want to read about.
The government is being as careful in its messaging as it can be. And even the punter filling up is only doing the rational thing.
So what I’d say is: expect this to continue for as long as we’re talking about possible shortages and price rises.
LISTEN ABOVE

Perspective with Heather du Plessis-Allan: People panic buying fuel aren't being irrational

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/ad2e9008-3e86-4b35-b9ce-b40c0064ff4e/transcript

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

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