Contact sees falling headcount as electricity demand stagnates

Tue, 14 Aug 2012

By Pattrick Smellie Aug. 14 (BusinessDesk) - Contact Energy expects to reduce its headcount from around 1200 staff and contractors at present as it stops building new power plants in response to stagnant New Zealand electricity demand. Chief executive Dennis Barnes gave no target for reductions, but said the focus for the country's largest listed generator-retailer would turn to "sweating" existing generation assets rather than building new ones, once it finishes work at the Wairakei and Te Mihi geothermal power station sites next year. "It...

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