FINWIRES · TerminalLIVE
FINWIRES

New Zealand's Electricity Authority Probes Genesis Energy's Alleged Consumer Care Obligations Breach

By

New Zealand's Electricity Authority started an investigation into an alleged breach of the Electricity Industry Participation Code by Genesis Energy (ASX:GNE, NZE:GNE) in relation to the disconnection of a residential consumer who depended on mains electricity for critical medical support, according to a Thursday statement from the regulator.

The regulator also alleged that Genesis breached several provisions in the Consumer Care Obligations related to protections for medically dependent consumers.

Genesis self-reported an additional alleged breach on Feb. 27 when it failed to request an application for medically dependent consumer status after becoming aware of a medically dependent consumer.

The firm did not immediately respond to an emailed request for comment from.

Related Articles

Asia

Arealink's Hello Storage Utilization Rate Down to 79% in June

Arealink (TYO:8914) said the utilization rate at its Hello Storage facilities slipped to 78.82% at the end of June, down from 83.16% a year earlier, as newly opened sites continued to ramp up, according to a Monday filing with the Tokyo Stock Exchange.Existing-facility utilization stood at 86.62%, compared with 89.74% in June 2025, while new facilities recorded a 47.98% usage rate, down from 49.89% a year earlier. Total units reached 134,612, with 106,096 in use.The company opened 28 new facilities in June, including locations in Tokyo, Kyoto, Chiba, Saitama, Aichi, Kyoto and Fukuoka. Partner-facility additions included two units. Four facilities were closed.

TYO:8914
Asia

Magellanic Cloud Unit Wins INR63 Million South Central Railway Contract

Magellanic Cloud (NSE:MCLOUD, BOM:538891) said its wholly owned subsidiary, Provigil Surveillance, has received a letter of acceptance from South Central Railway's Vijayawada Division for a contract worth about 62.5 million Indian rupees.The nine-month project covers the installation and upgrade of video surveillance systems at multiple railway stations, including facilities for the Godavari Pushkaram 2027 event, as well as deployment of video recording systems in relay and station master rooms across the Vijayawada Division, according to a Monday Indian stock exchange filing.Shares of the surveillance technology firm fell nearly 1% in recent trade.

BOM:538891NSE:MCLOUD
Asia

Jiangsu Etern Forecasts Up to 120% Jump in H1 Profit; Shares Fall 8%

Jiangsu Etern (SHA:600105) forecasts first-half attributable net profit of between 500 million yuan and 700 million yuan, compared with 318.5 million yuan the previous year.The between 57% and 120% year-over-year increase is driven by the optical communications segment, which benefited from the digital economy acceleration and booming artificial intelligence computing demand, according to a Monday filing with the Shanghai bourse.Shares of the telecommunication cable and wire manufacturer fell 8% in recent trade.

SHA:600105