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flag New Zealand approves 10-year plan for power companies to use Huntly’s backup generation to ensure grid stability and lower prices.

flag New Zealand’s Commerce Commission has approved a 10-year plan allowing major power companies to access backup generation at Genesis Energy’s Huntly Power Station until 2035, ensuring grid stability during dry winters with low hydroelectric output. flag The plan includes building a 600,000-tonne fuel reserve, initially using coal, and keeping Rankine Unit 2 operational. flag In exchange, Contact, Meridian, and Mercury will pay annual fees and cover operating costs. flag The commission found the move improves energy security and lowers wholesale prices, outweighing competition concerns. flag Genesis will offer price hedges to third parties, though mandatory sales were not required. flag The decision follows last winter’s supply crisis and aims to prevent future disruptions.

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