Contact Energy mass market electricity sales fall on demand slip

Company News

by Jessica Amir

New Zealand electricity generation company, Contact Energy, (ASX:CEN) has advised its mass market electricity sales fell for the 12 moths ending June 2018, compared the same time last year.

It comes as it revealed national NZ demand rose 3.2 per cent, compared to the same time last year, in June.

Contact Energy says that compares the jump of 5.6 per cent in energy demand, compared to two years prior.

Pockets of the North Island have sighted the strongest change in June, with some areas rising by 10 per cent.

As for the South Island, some regions saw no change in demand, while some parts of the North saw a fall in demand of 11 per cent.

Shares Contact Energy, (ASX:CEN) closed 2.80 per cent lower at $5.20 yesterday.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.