
Electricity demand keeps pressure on
New Zealand's relatively flat demand for electricity continues to weigh on the electricity companies.
New Zealand's relatively flat demand for electricity continues to weigh on the electricity companies.
Contact Energy's near-term focus was reducing debt, to ensure it maintains its investment grade status from credit rating agency Standard & Poor's.
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There are signs that electricity demand may be starting to grow again after a long period of declne.
Reading Diligent Corporation's acquisition announcement this week, you could be forgiven for assuming it was a done deal, signed and sealed.
Contact's selling its Auckland power station to a property developer.
Contact Energy's stock price slumped as the power firm failed to meet market forecasts amid tough competition and higher than expected costs related to bad debt and the separation from Origin Energy.
Contact Energy looked to be nailing health and safety.
Contact Energy is facing growing pressure from institutional investors over its governance structure.
Contact Energy chief executive Dennis Barnes says the firm now has the chance to steer its own course.
It's been a tough year for Contact Energy, with profits falling 43 per cent. But CEO Dennis Barnes says improvements are expected across all parts of the business next year.
Of the 33 employees based at the site, 26 roles will be disestablished and seven employees will moved within the company.
Contact Energy's decision to close its Otahuhu power station is the latest in an industry-wide move away from gas.
Contact Energy has said goodbye to Australian shareholder Origin and signalled a revision of its dividend policy which will be welcomed by shareholders.
Origin Energy will book a A$270m impairment from selling out of Contact Energy.
Contact Energy will have more New Zealand shareholders on its register after Australia's Origin Energy sold its controlling stake for $1.8 billion.
Speculation is building that a block sale of ASX-listed Origin Energy's 53pc stake in New Zealand's Contact Energy may be imminent.
More than half a billion dollars has been wiped off the value of NZX-listed electricity firms today.
Contact Energy's 70,000 shareholders will get a 50c-a-share special dividend tomorrow as its majority owner examines options to quit its stake in the company.
New Zealand shares fell yesterday, as Contact Energy and Mighty River Power were sold by investors looking to crystallise recent gains.
Despite speculation about its future in NZ, Origin Energy says it's committed to its investment in Contact Energy.
Contact Energy shares jumped more than 14 per cent after announcing it will increase returns to shareholders.
New Zealand shares rose yesterday, paced by Genesis Energy, Contact Energy and Mighty River Power in a relief rally as Meridian Energy's instalment came due.
Power companies have successfully pushed back against a move to provide people with more information about why prices go up.
New Zealand shares fell, led by Fonterra Shareholders' Fund, after the world's biggest dairy exporter lowered its guidance for dividends
Listed companies release their financial results to investors biannually, in a period informally known as the reporting season.
The electricity sector has attracted a lot of attention in the past couple of weeks, both in the business pages and within the investment community itself.