Our Aim

Our aim is to operate as a commercially-focused sustainable company providing responsible energy solutions to our customers and a satisfactory return to our shareholder - the Crown. This underpins the way we operate and do business, how our staff interact with stakeholders, and can be seen in our efforts to reduce our impact on the environment.

Our Objectives

The principal statutory objective of Genesis Energy is to operate as a successful business, and to this end, to be:

• As profitable and efficient as comparable businesses that are not owned by the Crown;
• A good employer; and
• An organisation that exhibits a sense of social responsibility by having regard to the interests of the community in which it operates and by endeavouring to accommodate or encourage these when able to do so.

These are the principal objectives for Genesis Energy and form the basis of all commercial decisions. To meet these objectives and to deliver shareholder value, Genesis Energy will focus on the following business objectives:

• Financial - To be fiscally responsible while delivering on shareholder value and performance expectations;
• Production and New Generation - To provide economic production and new generation solutions that demonstrate strong sustainability performance;
• Customers - To be recognised as a leading New Zealand energy provider with excellent customer service;
• Employees - To partner with our people for success;
• Community, Iwi, Hapu and Stakeholders - To engage meaningfully with the communities, Iwi and hapu in the areas in which we operate, and other key stakeholders;
• Our Environmental and Social Impact - To manage responsibly Genesis Energy’s environmental and social impact while growing our business; and
• Governance and Benchmarking - To follow best practice in corporate governance and benchmark the company’s sustainability performance.

By implementing these strategic themes in the provision of production, retail and trading as well as other services, Genesis Energy will deliver on shareholder value expectations and make a positive contribution to New Zealand’s energy sector and the broader communities in which Genesis Energy operates.

Statement of Corporate Intent

Company Objectives

To achieve sustainable business growth, we are committed to the following objectives:

• Deliver on shareholder value expectations by achieving a return that is greater than the company’s weighted average cost of capital
• build more generation capacity
• optimise the generation and trading business
• provide more customers with electricity, gas and a choice of energy-related products
• take the Genesis Energy brand to all of New Zealand
• continue to build our understanding of stakeholder expectations
• successfully retain and develop our intellectual knowledge
• have the right people doing the right things
• enhance our systems and processes

By delivering on these objectives across the energy value chain we will work towards achieving our vision, delivering on shareholder value while contributing positively to New Zealand’s energy sector and the broader community in which we operate.

Working hard to achieve this balance will bring success to Genesis Energy and New Zealand.