Electricity production and earnings have dipped slightly at state owned energy company Mighty River Power.
It has reported a lower half year underlying profit of $85.5 million, a decrease of 29% on the same period a year ago. Sales fell 10% to $522 million.
Managers say this was due largely to lower wholesale prices for electricity and plentiful supply during improved weather conditions.
The 2008 to 2009 earnings were boosted by high prices from dry weather in 2008.
Mighty River Power runs dams on the Waikato River, as well as several geothermal projects and the Southdown gas-fired plant in Auckland.
