ZB ZB
Opinion
Live now
Start time
Playing for
End time
Listen live
Listen to NAME OF STATION
Up next
Listen live on
ZB

Methanex temporarily shuts down NZ operations amid ongoing power crisis

Author
Newstalk ZB,
Publish Date
Tue, 13 Aug 2024, 5:35pm

Methanex temporarily shuts down NZ operations amid ongoing power crisis

Author
Newstalk ZB,
Publish Date
Tue, 13 Aug 2024, 5:35pm

There's praise for a deal to free up gas to help keep the country's lights on.

The nation's biggest gas user, Methanex, will shut down Kiwi operations until October - and is selling its gas to Contact Energy and Genesis Energy.

It'll let them generate more power to combat a supply shortage that's sent power prices skyrocketing.

Contact Energy CEO Mike Fuge says it will cost Methanex some export earnings.

He says that's outweighed by the benefit to the country.

"In terms of the security of supply - that's what our focus is at the moment and we're very confident that we'll be able to see the country through." 

LISTEN ABOVE

Take your Radio, Podcasts and Music with you