Drought hits Mighty River

Drought-affected hydro-power volumes and injection disruptions at the Kawerau geothermal power station have hit state-owned Mighty River Power's earnings forecast.

The company yesterday said its latest forecast was for earnings before interest, tax, depreciation and amortisation and financial instruments (ebitdaf) for the year to June to be at the lower end of the $315 million to $350 million range in its plan.