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Gas costs hit profit at Contact

Useful life of Taranaki gas plant reduced.

Tim Hunter Mon, 10 Feb 2020

The higher cost and unreliability of gas supply has eaten into half year profit at Contact Energy and reduced the expected lifespan of its gas-fired power station in Taranaki.

Net profit from continuing operations was down 40% to $59 million for the NZX-listed energy company.

Revenue fell 15%

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Tim Hunter Mon, 10 Feb 2020
Contact the Writer: thunter@nbr.co.nz
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Gas costs hit profit at Contact
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