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Contact Energy asked to back irresponsible claims

Media statement Friday, June 20th, 2003

Contact Energy asked to back irresponsible claims

The Employers & Manufacturers Association (Northern) wants to know which of Contact's customers is prepared to pay 15 to 30 cents/kwh for electricity as the company's Toby Stevenson claimed in yesterday's Herald.

"Contact Energy claimed people could live with prices of $150 to $300 a megawatt hour (15 to 30 cents a unit), but prices above that were not sustainable," said Alasdair Thompson.

"At those prices many industrial users would be shutting down and laying off their workforce.

"We want to know who these people are. We know of no such people.

"Contact should come clean and identify who they are, because our view is such a claim is totally irresponsible.

"Customers know power generated by gas turbine is about 2.5-3 cents/unit (allowing for a 10% return on capital). Talk of profiteering arises when they're charged ten times that.

Comments: Alasdair Thompson tel 09 367 0911 (b)

09 303 3951 (h)

0274 982 024

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