Manawa Energy: Prime Energy default has no financial impact

Manawa Energy (NZX:MNW) announced that Prime Energy, the electricity retailer referenced in previous announcements, has defaulted on its payment obligations to the New Zealand electricity market clearing manager. The trader has now entered the trader default process administered by the Electricity Authority. Manawa Energy clarifies that this announcement by the Electricity Authority has no material financial impact on the company, and the FY25 earnings guidance provided on February 17, 2025, remains unchanged. Manawa Energy is Aotearoa New Zealand's largest independent electricity generator and renewable developer, operating 26 power schemes with a total installed capacity of 510 megawatts.