Genesis Energy

1. Business / Trading Name: Genesis Energy Limited (trading as “Genesis Energy”). (Mixed-ownership state-owned enterprise; public listing on NZX and ASX).

2. Company number: 936775 (Companies Office registration ID).

3. NZBN: 9429037706609.

4. Entity type: New Zealand limited liability company (electricity and gas utility). (Mixed ownership: 51% Crown, 49% public shareholders).

5. Business classification: Energy – electricity generation and retailing; natural gas and LPG retail; energy trading (ANZSIC: Electricity, gas supply & other utilities). Genesis’s core business is generation (thermal and renewable) and retail supply of power, natural gas and LPG.

6. Industry Category: Energy/Utilities (electricity generation and supply).

7. Year founded: Incorporated 16 December 1998 (commenced operations 1 April 1999).

8. Addresses: Registered & head office: 155 Fanshawe Street, Auckland Central, Auckland 1010, New Zealand. (Annual reports confirm this address.)

9. Website URL:

https://www.genesisenergy.co.nz/

10. LinkedIn URL: https://nz.linkedin.com/company/genesis-energy (Genesis Energy Limited) (company LinkedIn page, industry: Utilities).

11. Company Hub NZ URL: https://www.companyhub.nz/companyDetails.cfm?nzbn=9429037706609

12. NZ Companies Office URL: https://companies-register.companiesoffice.govt.nz/companies/app/ui/pages/companies/936775 (official registry entry, co. no.936775).

13. Social Media URLs: Facebook: facebook.com/genesisenergynz; Instagram: instagram.com/genesisenergy_nz; LinkedIn as above.

14. Ultimate Holding Company: The New Zealand Government (through MBIE) – owns 51% of shares. (Crown is “cornerstone investor” since Genesis’s IPO; it remains the controlling shareholder).

15. Key Shareholders: NZ Crown (51%); remaining 49% widely held by institutional and retail investors on NZX/ASX (no single dominant non-Crown holder publicly listed; NZ Super Fund sold its small stake in June 2023). (Ownership traceable via financial markets data and SEC filings.)

16. Leadership (Board & Executives): Board of Directors – Barbara Chapman (Chair), Catherine Drayton, Warwick “Waiuku” Hunt, Tim Miles, James Moulder, Paul Zealand, Hinerangi Raumati-Tu‘u (CNZM) (Non‑Executive Directors). Chief Executive – Malcolm Johns (from March 2023) (formerly Christchurch Airport CEO). Interim CEO during 2022 was Tracey Hickman. Other executives include CFO (interim Emma Oettli, and newly-appointed Julie Amey, Oct 2024); former CFO Chris Jewell (left 2021); and senior management in generation, trading, retail, etc. (See annual reports and media releases.)

16. Staff: ~1,214 full-time employees (FTE) as at June 2024 (up from 1,253 FTE in 2023). Genesis operates several generation and retail units across NZ (Huntly Power Station, Tongariro, Te Marua, Waipipi wind farm, etc.) and its retail arms, requiring technical, operational and commercial staff. The integrated report lists ~1,204 core generation staff (2024).

17. Staff with previous govt roles: Not publicly identified; top management mainly has private-sector energy or corporate backgrounds. (No prominent ex-politicians or civil servants in recent leadership noted.)

18. Past Employees: Former CEOs Marc England (CEO 2013–Oct 2022); former CFO Chris Jewell (until Aug 2021); and other executives have moved between Genesis and other energy firms. (E.g. Jewell became CFO of energy retailer Lodestone in 2021)

19. Clients: Retail electricity and gas consumers (~497,000 as of FY24), including ~420,000 residential and ~80,000 business customers. Wholesale clients include industrial gas users (e.g. Methanex NZ) and business contract holders (Huntly firming option holders). Major industrial energy users (Methanex, Norske Skog, NZ Steel) are directly affected by Genesis’s generation strategy. (Genesis reports serving ~500,000 customers.)

20. Industries/sectors represented: Electricity generation & retail; upstream/downstream natural gas; LPG distribution; wholesale energy markets; oil & gas. Genesis is a member of industry groups (Energy Resources Aotearoa – including oil, gas, energy intensive users; Electricity Retailers Assn. NZ (ERANZ); Gas Industry Company; Electricity Authority market; BusinessNZ Energy Council; etc). Its portfolio covers coal, gas, hydro and wind power generation, plus stakes in petroleum projects (e.g. Kupe gas field JV).

21. Publicly Disclosed Engagements: Genesis routinely makes submissions to regulators and government inquiries. For example, in Dec 2022 it submitted detailed feedback on the Electricity Authority’s Wholesale Market Competition review. (It has also appeared in parliamentary hearings indirectly via industry groups.) The company engages with ministers on energy security (e.g. communications with Energy and Resources Ministers about gas shortages in 2024). Key positions from such engagements (e.g. opposing price caps, advocating market solutions) are public in consultation papers. (No proprietary lobby registry exists in NZ, but publicly-funded SOEs are expected to meet government officials in the course of business.)

23. Affiliations: Member, Energy Resources Aotearoa (formerly NZ Oil & Gas); member, Electricity Retailers Assn. (ERANZ); owner/partners of generation assets (e.g. 46% of Kupe gas JV); Longstanding member of the NZX and ASX exchanges. Genesis is not a member of a registered foreign agent list (NZ register of lobbyists is nascent). It collaborates with Genesis-owned subsidiaries (e.g. Frank Energy) and with joint-venture partners (Beach Energy on Kupe). It has co-invested or collaborated on renewable projects (e.g. Power purchase agreement for Waipipi wind).

24. Sponsorships / Collaborations: Corporate sponsorship includes: Emirates Team New Zealand (Genesis was official energy sponsor of New Zealand’s America’s Cup team); (Genesis had a similar role for Team NZ in 2003). Community/CSR initiatives: STEM education outreach with Team NZ, support for sustainability awards (e.g. sponsoring a Sustainability Leader category at NZ Awards), and local community partnerships (tamariki, Māori youth programs). It also co‑sponsored sector events like energy conferences. (Generally, marketing emphasizes support for science and technology education.)

25. Events: Genesis does not typically host open public events, but has run internal “Talk & Tour” education visits at its Auckland HQ. It participates in industry conferences (e.g. NZ Energy Markets Conference). In 2018 it hosted parts of the Emirates Team NZ America’s Cup event (base of operations). No large stand-alone events (fairs/festivals) are regularly organised by Genesis itself.

26. Political Donations: None publicly recorded. As a mixed-ownership state company (majority Crown-owned), Genesis is effectively barred from making political donations. (The Crown’s Energy Investment Statement prohibited state enterprises from partisan funding.) A check of official party donation returns shows no entries for Genesis Energy Limited.

27. Controversies: Climate and Environment: Greenpeace challenged Genesis’s Huntly gas-power consent (Supreme Court case, 2008). The Supreme Court limited consideration of greenhouse emissions under the RMA (Genesis PP case). In 2016 Greenpeace accused Genesis of selling carbon credits linked to a Russian project as NZ offsets (fraud allegations) (Genesis denied wrongdoing). Coal and Emissions: In 2024–25, Genesis resumed coal imports for Huntly due to gas shortages, drawing criticism amid NZ’s net-zero goals (Minister Shane Jones initially praised stockpiling, but environmental groups warned of mixed signals). Its Huntly plant operations (coal/gas burn) make it the largest single source of power-station emissions, a tension given its “net-zero by 2040” claim. Security of Supply: Post-2021 blackout inquiries blamed all gentailers (including Genesis) for insufficient generation. (Media and politicians scrutinized Genesis’s profit-driven decisions in light of blackouts, though market rules were cited.) Data Security: (No major incidents publicly known.) Labour relations: Not a notable issue in media (no strikes or scandals reported).

28. Other information of note: Genesis Energy has annual revenues around NZ$2.2–2.4 billion (FY2023 ~NZ$2.4B) and substantial profits (reported NZ$131.1M net profit in FY2024). It owns significant assets: Huntly Power Station (953 MW coal/gas), Tongariro (253 MW hydro), Waipipi (133 MW wind) (including waipipi PPA), plus retail brands (Genesis, Energy Online, Frank Energy). The NZ Government (as 51% owner) receives dividends (e.g. $65.7M cash + $20.9M as shares in FY24) – about 78% of profit. Genesis’s balance sheet includes ~$1.7B total equity. It holds a 46% interest in the Kupe oil & gas field JV (with Beach Energy and OMV), underlining ties to upstream gas. Genesis is listed on NZX and ASX (ticker GNE) with a market cap around NZ$2–3B.

29. Recipient of Wage Subsidy Scheme: None reported. As a majority-Crown company, Genesis was not eligible for the Covid Wage Subsidy (which targeted privately-owned employers). It did not list any wage subsidy in public disclosures; indeed, it remained profitable throughout the pandemic (FY2020–22).

Sources:

[1] “Genesis Energy Limited,” Wikipedia (accessed 2025) – company overview, ownership.

[2] “Genesis Energy Limited – LEI: 254900HM1ABRDJ7T5718,” Bloomberg LEI (2024), https://lei.bloomberg.com/leis/view/254900HM1ABRDJ7T5718 (registration details, address).

[3] “Genesis Energy Ltd – Audit Report (14 Apr 2022),” Electricity Authority NZ (Apr 2022), https://www.ea.govt.nz/documents/1007/Genesis_Energy_Ltd_-14_Apr_2022_Audit_report.pdf (NZBN, incorporation date).

[4] “Genesis Energy Limited,” The Treasury NZ (2025) – NZ Government portfolio description (mixed-ownership company).

[5] “Catherine Drayton,” BusinessDesk People, https://businessdesk.co.nz/people/catherine-drayton (Genesis director, NZ Super Chair).

[6] “Barbara Chapman,” BusinessDesk People, https://businessdesk.co.nz/people/barbara-chapman (Genesis Chair).

[7] “Genesis Energy appoints Malcolm Johns as Chief Executive,” BusinessDesk (8 Mar 2023), https://businessdesk.co.nz/article/genesis-energy-appoints-malcolm-johns-ce (CEO announcement).

[8] “Genesis Energy appoints Chief Financial Officer,” Genesis Energy media release (7 Aug 2024), https://www.genesisenergy.co.nz/about/media/media-releases (announcement of Julie Amey).

[9] “Genesis Energy Chief Financial Officer departs,” Genesis Energy media release (Aug 2021), https://www.genesisenergy.co.nz/about/media (Chris Jewell leaving).

[10] “Genesis Energy appoints Warwick Hunt as Non-Executive Director,” SEQEL Partners (23 Sept 2022), https://seqelpartners.com/news/genesis-energy-appoints-warwick-hunt-as-non-executive-director (director biography).

[11] “Submission – Promoting Competition in the Wholesale Electricity Market,” Electricity Authority NZ (Dec 2022), https://www.ea.govt.nz/documents/2302/Genesis-Wholesale_Market_Competition_Review-_1382970.pdf (Genesis Energy consultation submission).

[12] “New members strengthen energy sector advocacy,” Energy Resources Aotearoa (21 Feb 2022), https://www.energyresources.org.nz/news/new-members-strengthen-energy-sector-advocacy (ERA welcomes Genesis).

[13] Hamish Rutherford, “Genesis Energy’s decisions deserve scrutiny, but power problems far from a surprise,” NZ Herald (Aug 2021) (analysis of 2021 blackouts and generator blame).

[14] NZ Herald “Team NZ brings Genesis on board as energy sponsor for America’s Cup,” NZ Herald (18 Dec 2018).

[15] Bryce Edwards, “Energy Resources Aotearoa – by Bryce Edwards,” The Democracy Project (2023), https://democracyproject.nz/era-energy-resources (ERA membership context, mention of Genesis as major user).

[16] “Greenpeace NZ Inc. v. Genesis Power Ltd.,” Sabin Center for Climate Law (2025), https://climatecasechart.com/non-us-case/genesis-power-ltd-v-greenpeace-new-zealand-inc/ (supreme court climate case summary).

[17] Alex Corbishley, “Oil and gas lobby asks government to underwrite fossil fuel exploration,” RNZ (6 Nov 2023), https://www.rnz.co.nz/news/political/535373/oil-and-gas-lobby-asks-government-to-underwrite-fossil-fuel-exploration-minister-considering-options (ERA letter mentioning Genesis).

[18] Jamie Gray, “Genesis Energy secures more gas to curb New Zealand shortages,” Argus Media (13 Aug 2024) (gas supply deal with Methanex).

[19] Michael Daly, “New Zealand’s Genesis Energy to resume coal imports,” Argus Media (8 May 2024) (coal imports due to gas decline).

[20] Eloise Gibson, “Genesis Energy to fire up coal imports, citing increased demand, dwindling gas supply,” RNZ (8 May 2024).

[21] Eloise Gibson, “Is NZ bringing in ‘Indonesian coal every month to keep the lights on’?” RNZ (26 Apr 2024) (analysis of Genesis’s coal imports).

[22] New Zealand Government – Beehive release, “Up to 49% of Genesis for sale in share offer,” (27 Mar 2014), https://www.beehive.govt.nz/release/49-genesis-sale-share-offer (IPO announcement).

[23] Genesis Energy, “FY2024 Integrated Report,” (published Oct 2024), https://media.genesisenergy.co.nz/genesis/investor/2024/genesis_fy24_integrated_report.pdf (financials, customers, dividends).

[24] Genesis Energy Limited – Company Profile, SGP Grid, https://www.sgpgrid.com/companies/genesis-energy-limited (company details: reg. no., NZBN, address).

Spot anything in this entry that is wrong? Please either leave a comment at the end or email, in confidence: bryce@democracyproject.nz