Tag Archives: energy

Contact Energy, which generates about a quarter of New Zealand’s electricity, plans to sell as much as $125 million of six-year bonds in the final step of its refinancing programme. The Wellington-based company will offer $100 million of unsecured, unsubordinated, fixed-rate bonds to institutional investors and New Zealand retail investors, with the potential for a further $25 million in oversubscriptions, it said …

Genesis Energy, New Zealand’s largest energy retailer, cut its forecast for annual earnings after losing electricity and gas customers amid increased competition and as wholesale electricity prices declined. The shares dropped after the announcement. Earnings before interest, tax, depreciation, amortisation and other fair value changes will be between $330 million and $345 million in the year ending June 30, the Auckland-based company …

Vector, the Auckland lines company, says falling electricity consumption will cost it up to $80 million because of the way it’s regulated, according to chief executive Simon Mackenzie. The lines company’s electricity and gas distribution business is regulated by the Commerce Commission, and the regulator’s forecasting doesn’t recognise declining electricity consumption trends, Mackenzie told shareholders in Auckland. That has translated to a …

Infratil, the infrastructure investor, has lowered earnings guidance for the coming year by as much as $40 million, reflecting the sale of its Australian energy assets. The Wellington-based company now expects annual earnings before interest, tax, depreciation, amortisation and asset valuation changes will be between $520 million and $545 million in the year ended March 31, 2015, from a previously advised range of between …

New Zealand shares rose as energy companies extended yesterday’s gains after the incumbent National-led government’s convincing general election win on Saturday, lifting the threat of further regulation for the power sector. Kathmandu Holdings fell after reporting a decline in annual earnings. The NZX 50 Index rose 5.151 points, or 0.1 percent, to 5241.443. Within the index, 23 stocks rose, 16 fell and 11 were …