Contact shares drop to 2-month low, says 'hard to see' investment under Labour-Greens plan

Thu, 18 Apr 2013

By Pattrick Smellie April 19 (BusinessDesk) - Contact Energy shares dropped almost 6 percent in early NZX trading, with the company saying it was "hard to see" how it would have justified investing $2.5 billion in new power plants if the Labour-Greens electricity policy had been in place. In a statement not issued to the NZX but received by BusinessDesk, Contact chief executive Dennis Barnes says "under the proposed model, it is hard to see whether such investment would be made viable and who would pay.” "Competitive and efficient electrici...

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