Unions call for a power company windfall tax

Unions call for a power company windfall tax
Unions say profit and dividend levels justify a windfall tax. (Image: Getty)
Ian Llewellyn
Unions are the latest to question the profits made by the major electricity companies and call on the government to impose extra taxes.A new report co-authored by First Union, NZCTU and 350 Aotearoa argues that since the partial privatisation of electricity companies, the four big generator-retailers (gentailers) have delivered billions in excess dividends to shareholders. The calculation is based on adding together the net profit after tax (NPAT) for Contact, Meridian, Genesis and Mercury. The report then compares this to dividends paid o...

More Editor's Picks

MoT to gauge market interest in toll road concessions
Policy

MoT to gauge market interest in toll road concessions

Investment bank Citi will assist the ministry. Transurban has already signalled interest.

Oliver Lewis 03 Jul 2025
Funding sought for new real-time prostate cancer diagnostic technology
Editor's Picks

Funding sought for new real-time prostate cancer diagnostic technology

As NZ trials start, researchers are already looking towards the huge US market.

Greg Hurrell 03 Jul 2025
Xero’s Melio ‘leap of faith’
Markets Analysis

Xero’s Melio ‘leap of faith’

The NZ-founded company’s giant-killer dreams in the US hinge on this huge bet. 

Pattrick Smellie 01 Jul 2025