
Infratil reaps $329m on Z Energy sale
Infratil will book a profit of $392m on the sale of its remaining 20pc stake in Z Energy.
Infratil will book a profit of $392m on the sale of its remaining 20pc stake in Z Energy.
Contact Energy is facing growing pressure from institutional investors over its governance structure.
Battery frenemies Telsa, Panasonic poised for Solar power fight in Europe.
Z Energy is warning it's facing a potential multi-million dollar bill from NZ Customs - backdated to 1986.
The August corporate reporting season is now largely complete, aside from a few stragglers that have slightly different balance dates.
Mighty River Power has become the latest electricity generator-retailer to announce a special dividend in the current earnings season.
Auckland households are set to get a bigger dividend payout from Vector next month.
Solid Energy creditors yesterday voted to retain the company's existing administrators and not to set up a creditors' committee.
The US crude benchmark finishing below $US40 a barrel for the first time in six years on China's weakening economy.
The company will pay an 8 cents per share final dividend on October 6, an increase from last year's 6.6 cents.
Meridian Energy shares closed up almost 3 per cent yesterday after the company delivered better-than-expected earnings and foreshadowed a long-term return of capital to shareholders.
Our biggest power generator, Meridian Energy, says power prices are likely to stay flat in the coming year.
Profits and earning are up at Meridian Energy. And shareholders are in line for a special dividend.
Contact Energy chief executive Dennis Barnes says the firm now has the chance to steer its own course.
Contact Energy's decision to close its Otahuhu power station is the latest in an industry-wide move away from gas.
Two major factors - falling international coal prices and a $320 million mountain of debt - proved the undoing of state-owned coal company Solid Energy.
Solid Energy acting chairman Andy Coupe admitted it was "unlikely" that any sale, or sales, would cover its outstanding debt.
Trustpower has gained 30,000 new customers in 12 months and was named the top energy retailer in the country.
Contact Energy has said goodbye to Australian shareholder Origin and signalled a revision of its dividend policy which will be welcomed by shareholders.
Genesis Energy announced its last two coal-burning electricity generators at Huntly Power Station will be shut down.
Origin Energy will book a A$270m impairment from selling out of Contact Energy.
Contact Energy will have more New Zealand shareholders on its register after Australia's Origin Energy sold its controlling stake for $1.8 billion.
Australia's Origin Energy has sold is Contact Energy shares to underwriters Macquarie Capital for $1.8 billion, ending months of speculation.
Mr Key said Solid Energy had $300 million of outstanding debt and was in a "precarious position".
A revised contract between Meridian Energy and the owners of the Tiwai Pt aluminium smelter extends the smelter's operating life for at least another year from 2017.