Contact Energy Limited (COENF) has released an update.
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Contact Energy Limited has solidified its partnership with the New Zealand Aluminium Smelter, extending its current 100MW electricity supply into a long-term agreement that could last until 2044, with an increase to 120MW starting 2025. The deal, which includes higher prices for short-term supply and demand response provisions, bolsters Contact’s Contact26 decarbonization strategy and contributes to New Zealand’s energy security. Final approval from regulatory authorities is anticipated by the end of June 2024 and will influence the company’s dividend decisions for FY24.
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