Contact Energy
 |
|
| Public | |
| Traded as | NZX: CEN |
| Industry |
Electricity generation Electricity retailing Natural gas wholesaling Natural gas retailing LPG retailing |
| Founded | 1996 |
| Headquarters | Wellington, New Zealand |
|
Key people
|
Ralph Norris, Chair Dennis Barnes, Chief Executive |
| Revenue |
 NZ$2,163M |
|
NZ$523m |
|
| Profit |
NZ$(66m) |
| Total assets |
NZ$5,652m |
| Total equity |
NZ$2,823m |
|
Number of employees
|
1,066 |
| Website | www |
Contact Energy Limited is a New Zealand electricity generator, natural gas wholesaler and electricity, natural gas, and LPG retailer.
The company is the second-largest electricity generator in New Zealand (after Meridian Energy), generating 23% of all electricity in 2014, and has the second-largest market share (22%) of electricity retailers (after Genesis Energy). Contact owns and operates twelve power stations in New Zealand with a generation portfolio made up of geothermal, hydro and natural gas assets. Contact Energy's power stations consist of five gas turbine facilities, in Auckland, Hamilton, Hawkes Bay and Taranaki; five geothermal stations north of Taupo; and two hydroelectric dams on the Clutha River.
Contact originated with the partitioning of the Electricity Corporation of New Zealand in 1996, and publicly listed in 1999.
Contact was incorporated on 8 November 1995 and became a state owned enterprise on 18 November 1995. Contact commenced operations on 1 February 1996, acquiring assets from ECNZ with a payment of $1.6 billion. As the founding chief executive, Paul Anthony was instrumental in establishing the corporation distinct from ECNZ.
In 1999, the company was sold, with 40% purchased by Edison Mission Energy (EME) as cornerstone shareholder for $5 per share. The remaining 60% was sold in a public offering of shares for $3.10 per share. EME subsequently increased its shareholding to 51%.
As part of the 1999 electricity sector reforms, local electricity companies were split into lines and retail, with most selling the retail part off. Contact Energy acquired the retail bases of Top Energy, Counties Power, Eastland Network (Gisborne area), Unison (Hawke's Bay area), Electra, Network Tasman, MainPower, Alpine Energy, Aurora Energy (Dunedin area), The Power Company and Electricity Invercargill.
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Wikipedia