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8 stories mentioning ASX:MCYUpdated 7d ago

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Asia

Mercury Acquires Nearly 13% of Datagrid in $30 Million Investment

Mercury (ASX:MCY, NZE:MCY) acquired a 12.7% stake in Datagrid Holding Group through a $30 million investment, supporting the development of a planned 360-megawatt large-scale data center in Southland, according to a Thursday filing with the New Zealand and Australian bourses.The investment, funded through existing capital facilities, builds on the company's 140-megawatt power purchase option agreement signed in March and supports its strategy to meet long-term renewable electricity demand, per the filing.The project has secured resource consent, with a final investment decision anticipated later this year, the filing said.

ASX:MCYNZE:MCY
Asia Markets

New Zealand Shares Rise; Mercury Posts Lower Fiscal Q4 Gas Sales

New Zealand shares ended higher on Wednesday as Asian markets followed Wall Street's Tuesday rally.The S&P/NZX 50 Index rose 0.78% or 107.15 points to close at 13,763.18.On Tuesday, the Nasdaq Composite gained 1.3%, the S&P 500 added 0.9% while the Dow Jones advanced 0.7%.In domestic news, a total of 26,889 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 24,745 to 30,422 MT, according to data from the trading platform.Also, credit card spending in New Zealand decreased by 1.3% month on month to NZ$4.37 billion in June after a 1.9% increase in the previous month, while credit card balances fell 0.4% to NZ$5.97 billion in June, data from the Reserve Bank of New Zealand showed.In corporate news, Mercury (ASX:MCY, NZE:MCY) reported fiscal fourth-quarter gas sales of 488 gigawatt-hours (GWh) at a volume-weighted average price of NZ$36.1 per megawatt-hour (MWh), down from 501 GWh at NZ$31.3/MWh a year earlier.New Zealand Rural Land's (NZE:NZL) board reaffirmed the suspension of its fiscal 2026 earnings guidance.

^NZ50ASX:MCYNZE:MCYNZE:NZL
Asia

Awareness of Power Support Services Grows in New Zealand, Electricity Authority Says

New Zealand's Electricity Authority on Wednesday published a post-implementation review that found increasing awareness of services that help consumers with utility disputes and price comparisons following measures implemented in 2021.The review showed that the majority of retailers and distributors are in compliance with requirements in the country's Electricity Industry Participation Code, making information about the support services generally available to consumers.Although awareness of dispute resolution services is still relatively low, there are signs of improvement as the latest Utilities Disputes annual report pointed to a 62% year-over-year increase in complaints, the Electricity Authority said.It added that retailers will be required to furnish information about utilities disputes on power bills starting from Oct. 30, as opposed to providing it only with billing communications.The review further found that roughly 60% of consumers are familiar with comparison and switching services, but awareness is lower among modest-income households.The New Zealand-listed shares of Genesis Energy (ASX:GNE, NZE:GNE) and Mercury NZ (ASX:MCY, NZE:MCY) were marginally lower in recent Wednesday trade, while Contact Energy (ASX:CEN, NZE:CEN) fell 2% and Meridian Energy (ASX:MEZ, NZE:MEL) shed past 1%.

ASX:CENASX:GNEASX:MCYASX:MEZNZE:CENNZE:GNENZE:MCYNZE:MEL
Asia

Mercury Posts Lower Fiscal Q4 Gas Sales

Mercury (ASX:MCY, NZE:MCY) reported fiscal fourth-quarter gas sales of 488 gigawatt-hours (GWh) at a volume-weighted average price of NZ$36.1 per megawatt-hour (MWh), down from 501 GWh at NZ$31.3/MWh a year earlier, according to a Wednesday filing with the New Zealand and Australian bourses.Gas costs in the three months ended June 30 fell to 488 GWh at NZ$20.1/MWh, compared with 501 GWh at NZ$14.7/MWh in the prior corresponding period.Electricity connections rose to 590,000, up from 581,000 a year earlier, while gas and liquefied petroleum gas connections decreased to 109,000 from 110,000.

ASX:MCYNZE:MCY
Asia

Mercury Chief Strategy, Transformation Officer Resigns

Mercury (ASX:MCY, NZE:MCY) said that Chief Strategy and Transformation Officer Craig Neustroski resigned and will leave the company at the end of July, according to a Tuesday filing with the New Zealand and Australian bourses.

ASX:MCYNZE:MCY
Asia

New Zealand Regulator Imposes New Rules on Top Energy Companies to Boost Competition in Electricity Sector

New Zealand's Electricity Authority on Tuesday imposed non-discrimination obligations on the country's four largest energy companies in a bid to level the playing field for hedging contracts in the electricity sector.Under the new rules, which are effective from July 1, Contact Energy (NZE:CEN, ASX:CEN), Genesis Energy (NZE:GNE, ASX:GNE), Mercury (NZE:MCY, ASX:MCY), and Meridian Energy (NZE:MEL, ASX:MEZ) will be required to provide risk management contracts to all buyers on an even-handed basis. This will prevent the companies from favoring their own retail divisions on price or non-price terms.The four power generation-retailer, or gentailer, firms will need to furnish compliance plans to the Authority each year, and also submit six-monthly assessments justifying their retail price offers relative to their expected cost of electricity supply.Electricity Authority Acting Chair Erik Westergaard said the new rules will boost competition, enhance transparency, and can be implemented quickly without a material cost increase for gentailers.Shares of all four companies rose less than 1% in recent Tuesday trade on the New Zealand bourse.

ASX:CENASX:GNEASX:MCYASX:MEZNZE:CENNZE:GNENZE:MCYNZE:MEL
Asia

Mercury Targets Up to NZ$1 Billion Investment to Scale Geothermal Platform

Mercury (ASX:MCY, NZE:MCY) is set to invest up to NZ$1 billion in its next growth phase as the company scales up its geothermal platform, according to Thursday filings with the Australian and New Zealand bourses.The company has committed NZ$75 million to geothermal appraisal drilling for projects at Ngā Tamariki and Rotokawa in New Zealand to add 1 terawatt-hour of new geothermal generation, with first generation targeted for 2030.Mercury said it is funding the initiative from its balance sheet and expects the investment to be value accretive.The company's shares in the New Zealand bourse fell 2% in recent trade.

ASX:MCYNZE:MCY
Asia

Mercury Posts Lower Fiscal Q3 Gas Sales; Raises Fiscal 2026 Outlook

Mercury (ASX:MCY, NZE:MCY) reported fiscal third-quarter gas sales of 278 gigawatt-hours (GWh) at a volume-weighted average price of NZ$41.05 per megawatt-hour (MWh), down from 286 GWh at NZ$34.24 per MWh a year earlier, according to a Wednesday filing with the Australian and New Zealand bourses.Gas costs in the three months ended March 31 fell to 278 GWh at NZ$18.03 per MWh, compared with 287 GWh at NZ$15.68 per MWh in the prior corresponding period.Electricity connections rose to 586,000 from 583,000 a year earlier, while gas connections increased to 109,000 from 108,000.The company increased its fiscal 2026 earnings before interest, taxes, depreciation, amortization, and fair value adjustments guidance to NZ$1.05 billion from NZ$1 billion, citing disciplined portfolio management and stronger-than-expected renewable generation from hydro and new assets.

ASX:MCYNZE:MCY

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