How the leaders stack up

It is difficult to accurately compare the performance of the big electricity companies.

The three SOEs - Genesis, Meridian, Mighty River Power - all reported results for the year to June 2001.

Contact, in light of the Edison takeover offer, has reported to the year ended September.

The winter months of July and August were important to all power companies, with wholesale power prices sky-high, and water in hydro storage lakes becoming more and more precious.

One measure of performance - return on equity - shows Contact stacks up well against its state-owned rivals.

The 8.6 per cent figure for Mighty River Power is pushed higher by the SOE's comparatively high debt levels.

For the year ended June 2001, it made a profit of $59.1 million, but paid no dividend, instead deciding to lower debt levels.

* Genesis - 7.25 per cent

* Meridian - 7.6 per cent

* Mighty River Power - 8.6 per cent

* Contact - 7.9 per cent.