Pulse Energy sinks deeper into the red as old electricity derivatives weigh

Sun, 14 Dec 2014

By Paul McBeth Dec. 15 (BusinessDesk) - Pulse Energy, the electricity retailer controlled by lines company Buller Electricity, sank deeper into the red in the first half as historical electricity derivatives tied the company to substantially higher than expected wholesale prices and chewed up revenue growth. The Auckland-based company reported a net loss of $9.99 million, or 2.9 cents per share, in the six months ended Sept. 30, widening the loss of $3.41 million, or 1.3 cents, a year earlier, it said in a statement. Of this, $6.3 million...

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