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Contact – Comment On Restricted HVDC Capacity

8 October 2004

FOR IMMEDIATE RELEASE

Contact Energy – Comment On Restricted Hvdc Capacity

Contact Energy confirmed today that it had been informed by the national grid operator, Transpower New Zealand Ltd, of a capacity limitation on the HVDC link which it is anticipated will reduce capacity to 886 MW for approximately six months.

This capacity limitation is somewhat inconvenient as it will reduce the ability to export electricity supplied from South Island hydro resources to meet North Island electricity consumption at a time when hydro lakes generally experience significant inflows.

However, based on current information, Contact does not anticipate any significant financial or electricity price impacts from this marginal loss of system efficiency.

Contact will continue to monitor the situation and make further comment if there is a change in the outlook.

ENDS


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