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


Contact Gains Victorian Retail Electricity Licence

26 February 2004

Contact Energy Gains Victorian Retail Electricity Licence

Contact Energy’s chief executive, Mr Steve Barrett, today welcomed the granting of a licence to the company's Australian subsidiary to commence retail electricity sales in Victoria.

“This is a milestone event for our Australian strategy, and follows our completion of a long term contract for electricity supply earlier this month,” said Mr Barrett.

“We now have the key building blocks in place to launch a retail offering in Victoria.”

Contact has chosen to enter the Victorian retail electricity market on the basis of its open and competitive regulatory environment.

“As I said at our Annual Meeting last week, we are planning to establish a significant, profitable niche business that will offer longer-term growth opportunities for the company,” Mr Barrett said.

“With approximately 4.8 million people, Victoria represents a larger population base than the whole New Zealand market. We have researched the market carefully and are confident that there is significant opportunity for us to grow a competitive, new retail electricity business, based on the success of our retail strategy in New Zealand.”

Mr Barrett said preparations for the launch of the new Victorian business, including branding and product offers, were well advanced and would be announced in due course.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news