Mixed blessings for Contact Energy from low southern hydro lakes

Tue, 23 May 2017

By Pattrick Smellie May 24 (BusinessDesk) - Low inflows of water into the South Island's hydro-electricity storage lakes are expected to knock Contact Energy's earnings in the second half of the current financial year but should boost prices for electricity to residential, commercial and industrial users next year, says analysis from investment firm First New Zealand Capital. "South Island hydrology has shifted gear from flood to trickle," wrote analyst Nevill Gluyas in a research note dated May 23. "Storage in southern lakes has fallen t...

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