Fuge: Liz Truss a lesson for those backing market intervention

Contact's Taranaki Combined Cycle Plant closure in 2024 is still the right move, says CEO. (Image: Contact)

Thu, 17 Nov 2022

Contact Energy’s boss Mike Fuge rates the chance of regulatory intervention in the electricity sector as “moderate to low” despite an ongoing clamour about the market and major companies' profits.Speaking to BusinessDesk after the company’s shareholder meeting on Wednesday, Fuge defended the sector’s performance saying it delivered stable and secure electricity with prices rising at a slower pace than general inflation.Ministers have brushed off calls for government intervention, including windfall taxesFu...

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