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Speaker 1: So more moves on the energy front. This morning from

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Speaker 1: the government. We've got rule changes coming around the two

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Speaker 1: hundred million dollar exploration fund. There will be additional drilling

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Speaker 1: and existing fields and upgrades to production facilities. Malcolm John's

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Speaker 1: as Genesis chief executive and as with us, Malcolm morning,

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Speaker 1: good morning, how are you. I'm very well, Thank you.

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Speaker 1: The two hundred million dollars this of the government with

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Speaker 1: the skin and the game thing. Have we got reputational

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Speaker 1: problems here? Hence the change. In other words, the international

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Speaker 1: community didn't come a running the way we thought or

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Speaker 1: hoped they would.

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Speaker 2: Look. I think we're managing a challenging gas situation. It

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Speaker 2: will be for some years to come, and the expansion

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Speaker 2: of the application of the two hundred million, particularly into

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Speaker 2: gas storage areas, I think is a major step forward

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Speaker 2: for us being able to do that.

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Speaker 1: Will it work?

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Speaker 2: I think so? Yes, absolutely so.

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Speaker 1: The more how confident are you on the more This

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Speaker 1: is the labor line. Even if you go looking, you're

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Speaker 1: not finding anything. If we look, will we find.

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Speaker 2: I'm not a geologist, so I can answer that. What

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Speaker 2: I can say is that based on what we know

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Speaker 2: in terms of even and possible reserves, that have been identified.

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Speaker 2: More drilling in existing fields and investment into more gas

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Speaker 2: flexibility is going to be a very powerful tool to

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Speaker 2: push the economy as we manage this.

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Speaker 1: Right the skin and the game thing from the government.

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Speaker 1: Does that make sense? Do you like it?

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Speaker 2: Look, I'm a free market person, but I think we're

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Speaker 2: at a point in terms of the upstream sector in

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Speaker 2: particular where the government leaning in is a critical element

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Speaker 2: of getting things happening.

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Speaker 1: Okay, answer me this definitively. Megan Woods will tell you

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Speaker 1: that even in all the looking, you never found gas anyway,

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Speaker 1: So you're wasting your time, true or not?

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Speaker 2: Well it certainly you know in terms of the wells

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Speaker 2: have been drilled over the last five to seven years,

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Speaker 2: they haven't been that successful. But the wells we're talking

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Speaker 2: about drilling here are in existing fields where we know

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Speaker 2: there is gas. So it's about accelerating the supply of

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Speaker 2: existing fields, and with gas flexibility around gas storage in particular,

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Speaker 2: then we can smooth out those gas reserves for long.

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Speaker 1: Go Okay, on the ComCom and their decision yesterday on

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Speaker 1: the coal were they going to do and what was

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Speaker 1: the point of that exercise? I mean, what are they

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Speaker 1: going to do? Say no, you can't do it.

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Speaker 2: Well, they could have done, but I think obviously we

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Speaker 2: welcome the decision that they've made because it does mean

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Speaker 2: that the very large generation units a hunt me that

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Speaker 2: we're going into retirement are now going to be around

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Speaker 2: for another decade and so in a sense that gives

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Speaker 2: New Zealand another ten years to solve the long term

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Speaker 2: energy security issue around low rainfall and low wind periods.

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Speaker 1: Right, how fragile are we as a country because my

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Speaker 1: current fascination is your data AI thing and all the

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Speaker 1: power that that sucks up? Are we going to be

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Speaker 1: your data center?

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Speaker 2: You know?

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Speaker 1: Seriously? Are we a enterprise the sort of power to

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Speaker 1: do that.

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Speaker 2: There's three different types of data centers. There is just

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Speaker 2: a pure data center that's like adding light bulbs to

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Speaker 2: the grid. There's a data center with compute that's like

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Speaker 2: adding houses to the grid. Then there's a data center

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Speaker 2: with AI and that's like adding hounds to the grid.

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Speaker 2: So it really depends on the data strategy that the

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Speaker 2: data center operators pursue for New Zealand, and whether we

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Speaker 2: have compute and AI centers here will determine how much

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Speaker 2: impact there is on the demand for electricity and New Zealand.

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Speaker 1: What an excellent explanation. I'll like you sty well done,

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Speaker 1: have a good week in Malcolm John's Genesis, Chief Executive

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Speaker 1: would us this morning

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