An announcement from Contact Energy Limited ( (COENF) ) is now available.
Contact Energy Limited has secured an agreement with Methanex to purchase approximately 2.8 petajoules of gas over an eight-week period to address low hydro inflows and dwindling gas supplies. This move is part of Contact’s strategy to maintain electricity supply security in New Zealand, utilizing the Ahuroa Gas Storage Facility and the Taranaki Combined Cycle gas-fired power station, which is set to close after winter 2025.
More about Contact Energy Limited
Contact Energy Limited is a prominent player in the energy sector, primarily engaged in the generation and retailing of electricity and natural gas. The company focuses on ensuring a stable energy supply to New Zealand, leveraging its infrastructure and strategic partnerships.
Average Trading Volume: 11,076
Technical Sentiment Signal: Buy
Current Market Cap: A$6.78B
For an in-depth examination of COENF stock, go to TipRanks’ Stock Analysis page.