Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

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

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>