Contact’s Te Mihi station delay offset by Cook Strait cable gains

Tue, 22 Oct 2013

Oct. 23 (BusinessDesk) – Contact Energy will only get six instead of an expected nine months’ benefit from electricity generated at its new Te Mihi geothermal power station, but the delay is offset by gains for the generator-retailer from restoration of the Cook Strait cable to normal capacity. In a note to clients, Deutsche Bank’s Grant Swanepoel says Contact had a “great operational start” to the current financial year, but announcements on a new dividend policy are unlikely before the Wellington-headquartered company announces full-year res...

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