Contact Energy Limited (COENF) has released an update.
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Contact Energy Limited reported an increase in mass market electricity and gas sales to 413GWh and a slight rise in mass market netback to $128.51/MWh in May 2024. Wholesale electricity sales also grew, totaling 776GWh, with a significant jump in net revenue to $163.52/MWh. However, the company’s unit generation costs have nearly doubled, and the Te Huka 3 project is slightly behind target, with reliability testing at Tauhara underway.
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