Sharechat Logo

CEN falls on power station news

By Phil Boeyen, ShareChat Business News Editor

Friday 11th August 2000

Text too small?
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.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

UPDATE Contact increases dividend as FY earnings rise; quits wind projects
Contact increases dividend as FY earnings rise in competitive market
Contact shares drop to 2-month low, says 'hard to see' investment under Labour-Greens plan
Contact Energy, parent Origin mull redemption of $2.03 bln of notes after S and P change
Solid first half for Contact, despite retail margins squeeze
Contact sells mothballed New Plymouth power station for $24 mln
Contact Energy's King hints at greater returns as cash mounts
Contact energy beats FY profit forecast as revenue surges
Elliott leaving Contact for Origin role
Contact sees 2014 cash-flow boost as projects put on ice