Summary: Genesis Power Ltd. - S&P Global Ratings’ Credit Research

Summary: Genesis Power Ltd.

Summary: Genesis Power Ltd. - S&P Global Ratings’ Credit Research
Summary: Genesis Power Ltd.
Published Dec 14, 2011
2255 words — Published Dec 14, 2011
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Abstract:

The ratings on Genesis Power Ltd. (trading as Genesis Energy) reflect our opinion of the company's market position as a major integrated electricity generator-retailer in the New Zealand electricity market. Also underpinning the ratings are Genesis Energy's reasonably diversified generation portfolio and its 100% ownership by the New Zealand government (local currency AA+/Stable/A-1+, foreign currency AA/Stable/A-1+). Offsetting these strengths is our view of Genesis Energy's weakening competitive position following the July 2010 imposition of a carbon charge on the company's sizable thermal generation portfolio as part of New Zealand's emissions trading scheme (ETS). Other credit weaknesses include the company's exposure to a volatile wholesale New Zealand electricity market and some exposure to oil price volatility from its 31% equity share

  
Brief Excerpt:

RESEARCH Summary: Genesis Power Ltd. Publication date: 14-Dec-2011 Primary Credit Analyst: Thomas Jacquot, Sydney 61 2 9255 9872; thomas_jacquot@standardandpoors.com Secondary Contact: Richard Creed, Melbourne (61) 3-9631-2045; richard_creed@standardand...

  
Report Type:

Summary

Ticker
1157Z@NZ
Issuer
Genesis Energy Ltd.
GICS
Electric Utilities (55101010)
Sector
Global Issuers
Country
New Zealand
Region
Pacific
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MLA:
S&P Global Ratings’ Credit Research. "Summary: Genesis Power Ltd." Dec 14, 2011. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Summary-Genesis-Power-Ltd-921821>
  
APA:
S&P Global Ratings’ Credit Research. (). Summary: Genesis Power Ltd. Dec 14, 2011. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Summary-Genesis-Power-Ltd-921821>
  
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