Contact's 10% power bill hike a risk

Contact's 10% power bill hike a risk
Contact's profits were down but its charges are going up. (Image: Contact)
Ian Llewellyn
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...

More Energy

Flick not profitable before $70m sale to Meridian
Markets

Flick not profitable before $70m sale to Meridian

After eight years of trying in electricity retailing, Z throws in the towel.

Ian Llewellyn 13 May 2025
Meridian to pay $70m for Z Energy's Flick
Energy

Meridian to pay $70m for Z Energy's Flick

Z Energy paid $46m for its 70.01% stake in the electricity retailer seven years ago. 

Ian Llewellyn 13 May 2025
Major electricity users want bold action from Govt
Energy

Major electricity users want bold action from Govt

Status quo will not reduce energy costs, says MEUG.

Ian Llewellyn 13 May 2025
Z refuses to comment on Flick Electric closure
Energy

Z refuses to comment on Flick Electric closure

If true, the closure will be another blow to competition in the sector.

Ian Llewellyn 12 May 2025