Manawa Energy Ltd

MNW: XNZE (NZL)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	NZD 6.90	Hjvwsg	Ynqpbtxv

NZ Utilities: New Zealand Aluminium Smelters to Operate Until 2044

Adrian Atkins

Jun 3, 2024

In a positive for the utilities, Rio Tinto has agreed to electricity supply contracts to operate New Zealand Aluminium Smelters until Dec. 31, 2044. The smelter, which accounts for about 13% of New Zealand’s electricity demand, threatened to close in 2020 because of weak aluminum prices, and its future remained uncertain until this announcement. Its closure would likely have caused much lower wholesale electricity prices for the medium term, hurting utility earnings.

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