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CEN falls on power station news

By Phil Boeyen, ShareChat Business News Editor

Friday 11th August 2000

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Contact Energy shares fell on Friday following news that the company's new Otahuhu B power station will be out of action for at least six months.

The company opened the 380-megawatt station in January, claiming it is one of the most efficient power stations of its kind in the world.

Contact says it will be able to cover the lost generation by sourcing power from its 400-megawatt New Plymouth station while the failed transformer at Otahuhu B is sent overseas for repair.

Despite the problems Contact says their should be very little if any negative financial impact because the the outage is covered by contracts, warranties and insurances.

Contact closed down 9 on Friday at $2.54.

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