Making a powerful difference in New Zealand

This Case Study looks at one of New Zealand's largest energy companies, Genesis Energy. It reviews the firm's diverse portfolio and the legal requirements that affect the business.

As a result of carefully reading this Case Study, students should be able to:

• Understand corporate governance of a State-Owned Enterprise 
• Explain risk management with reference to Genesis Energy 
• Discuss the obligations of the Resource Management Act and its impact on Genesis Energy
• Explain what is meant by the Kyoto Protocol.

Introduction

Did you wake up this morning and turn on your bedroom light, listen to the radio, have a hot shower or make a cup of tea? If the answer is yes, chances are you used electricity from one of Genesis Energy's power schemes to do it.

A different business model

Genesis Energy is a State-Owned Enterprise (SOE). It operates under the State-Owned Enterprises Act 1986.

Rethinking company values

The founding of the new company in 1999 was a time of challenge for staff. They had new workers to get to know and a new brand to build.

Managing risk

Risk management is the task of reducing the risk a company faces and developing ways to manage it.

An ideal environment

The Resource Management Act 1991 is a law that sets out how to control impacts on the environment.

A diverse workforce

Genesis Energy is a large employer. It has a current staff of around 500 in the North Island.

Conclusion

Genesis Energy states that its goal is to strive to make a positive impact on the environment and to contribute to New Zealand's long-term energy supply and international and national climate change obligations.