Contact's 10% power bill hike a risk

Contact's profits were down but its charges are going up. (Image: Contact)

Fri, 17 Feb 2023

Contact Energy’s largest electricity retail price rises in a decade may put it at risk of losing customers, one energy analyst report says.On Monday, Contact reported its six months to Dec 31 result that was well down on the previous comparable period, but in line with expectations.Forsyth Barr analysts said Contact’s first-half earnings before interest, taxes, depreciation and amortisation (Ebitdaf) of $246 million was $76m (-24%) down on the first half of 2022, but +$2m up on its forecast.The result was also $34m (-12%) below Cont...

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