Looks like its day of downgrades today..
https://www.nzx.com/announcements/333499
"18 April 2019 – Mercury announced today that it has revised its FY2019 EBITDAF guidance from $515 million to $495 million. This is due to an expected 150 GWh reduction in full year forecast hydro generation due to continued dry weather in the Taupo area. Based on hydro generation year to date and the current below average Taupo lake level, this 150 GWh reduction is forecast to mostly occur in Q4-FY2019. FY2019 annual hydro generation is now forecast to be 4,000 GWh in line with the historic average."
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