9 Oct 2010

Higher earnings expected by power company

6:06 am on 9 October 2010

Mighty River Power expects to lift earnings by 20% this year.

The state-owned company says it expects pre-tax earnings to be $391 million in the 2011 financial year.

But chief executive Doug Heffernan says that because hydro generation makes up around 65% of its generation portfolio, earnings can vary significantly depending on market and hydrological conditions.