!['Disappointing' year a watershed for Contact](/pf/resources/images/placeholders/placeholder_l.png?d=792)
'Disappointing' year a watershed for Contact
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.
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.
Australia's Origin Energy has sold is Contact Energy shares to underwriters Macquarie Capital for $1.8 billion, ending months of speculation.
A revised contract between Meridian Energy and the owners of the Tiwai Pt aluminium smelter extends the smelter's operating life for at least another year from 2017.
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.
Mighty River Power's $69 million writedown on two failed geothermal developments overseas is a lesson for Contact Energy, says an analyst.
The so-called gentailers didn't seem such defensive, dependable investments after Contact Energy reported its interim result on Monday.
Contact Energy could be heading for a showdown with minority shareholders over what to do with a $1 billion pot of cash.
Contact Energy shares have fallen nearly 9 per cent today after reporting a plunge in half-year profits.
Geothermal has pipped gas generation for the first time as more plants come on stream.
New Zealand shares fell yesterday, paced by Meridian Energy, Contact Energy and Mighty River Power as some investors looked to crystallise recent gains.
I am the household manager - in part, because the other half isn't interested in assuming the role and in part because I like to know what's going on.
New Zealand shares gained for a third day yesterday, paced by Contact Energy and TrustPower, as investors spooked by recent volatility sought high-yield stocks. Fisher & Paykel Healthcare rose to a record.