HY2018 Coal Statement

MARKET RELEASE
Date: 14 February 2018
Genesis establishes a pathway to a coal-free electricity future

Genesis has today announced a pathway for the removal of coal from the New Zealand electricity sector.
Genesis Chair Dame Jenny Shipley said that by 2025 Genesis has committed to not use any coal to generate
electricity in normal market conditions, with the intention to phase out coal use completely by 2030. This
timeline gives the industry, which currently relies on coal fired generation to meet their needs, time to find
alternative solutions that maintain security of supply.
“Over the last decade, Genesis has cut its use of coal by 80 per cent, halved overall carbon emissions and retired
500 megawatts of thermal generation, all while providing the flexibility and stability of generation that New
Zealand’s renewable electricity system depends on,” says Dame Jenny.

Chief Executive Marc England said Genesis’ diverse generation portfolio plays a central role in maintaining the
reliable supply of electricity to New Zealand communities and businesses when hydro lake storage is low. This
has been particularly apparent in 2017.

“New Zealand has one of the cleanest electricity sectors in the OECD and already has an 85% renewable
electricity system. While coal, as a fuel, only makes up a small portion of total grid electricity generation, New
Zealand now needs a plan to move away from a dependency on it. Now is the right time to establish a pathway
to drive the essential discussion across the whole industry on how to achieve a future without coal.”

“However in a largely weather dependent renewable future gas fired thermal generation will, for many years to
come, remain a key enabler by ensuring a reliable supply while keeping costs manageable for consumers.”

England also added that the announcement would not preclude Genesis from removing coal earlier and did
not represent an announcement on specific generation units closing as all current thermal generation units
can run on gas.
“Now is the right time for the whole industry to plan for a future without coal,” said England.

For media enquiries, please contact:
Emma-Kate Greer
Group Manager Corporate Relations
M: 027 655 4499

For investor relations enquiries, please contact:
Wendy Jenkins
Group Manager Corporate Finance and Investor Relations
Genesis Energy
P: 09 951 9355
M: 027 471 2377

About Genesis Energy

Genesis Energy (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. It sells electricity, reticulated
natural gas and LPG through its retail brands of Genesis Energy and Energy Online. It is New Zealand’s largest
energy retailer with around 503,000 customers. The Company generates electricity from a diverse portfolio of
thermal and renewable generation assets located in different parts of the country. Genesis Energy also has a
46% interest in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field offshore of Taranaki, New
Zealand. Genesis Energy had revenue of $NZ2bn during the 12 months ended 30 June 2017. More information
can be found at www.genesisenergy.co.nz