Power company shares rally on electricity review panel report

Tue, 11 Sep 2018

By Gavin Evans Sept. 11 (BusinessDesk) - Shares in some of the country’s biggest generators jumped today after an independent review of the electricity sector found no evidence that they, or distributors, were making excessive profits. Shares in Meridian Energy, the country’s biggest generator, rose 2.9 percent. Those of Contact Energy, the country’s second-largest power and gas retailer by accounts, jumped 3.6 percent. "Nothing too draconian has come out of that report," said Mark Lister, head of private wealth research at Craigs Inve...

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