Friday 4th July 2025 |
Text too small? |
Contact Energy (Contact) has reached a seven-year gas supply agreement with Greymouth Gas New Zealand Limited (GGNZ Ltd).
The agreement to supply up to 7PJ of gas per annum will take effect from 1 October 2025, with an option to extend for a further three years from October 2032.
The gas provides an opportunity for Contact to support New Zealand businesses and critical gas consumers as they transition from gas to renewable electricity. It also provides Contact with some diversification of gas supply and reduces single field reliance for meeting the needs of retail gas customers and electricity generation.
In a normal hydrology year, Contact expects to generate 200GWh to 300GWh of electricity from its gas peaking units at Stratford, supporting its Clutha run of river hydro scheme, meaning that Contact’s generation will be around 98% renewable.1
Contact continues to grow its portfolio of renewable generation assets. In the past four years it has committed to invest over $2 billion in the critical energy infrastructure needed, including projects either completed or underway.
“Contact is investing heavily in the renewable future for New Zealand while playing our part to support the country’s security of supply. We remain committed to being net zero in our generation operations by 2035,” said CEO Mike Fuge.
“With the Greymouth agreement we can look to increase supply to New Zealand businesses that remain reliant on gas to operate. Aligned with our strategy to be a leader in the decarbonisation of the country, we will help these customers over time as they move to renewable energy.”
- ends -
No comments yet
July 29th Morning Report
General Capital Annual Shareholders Meeting Results
MEE - Receivers and Liquidators appointed to King Honey
2 Cheap Cars Group Updates Performance Outlook for FY26
Spark announces Director changes as part of Board renewal
July 28th Morning Report
KMD Brands announces new Group Chief Financial Officer
Commerce Commission to issue SOI re Viridian application
FBU - Moody's affirms FBU Baa3/stable rating
Contact Energy FY25 Financial Results Presentation