Contact Energy (“Contact”) notes the Electricity Authority’s preliminary view that an undesirable trading situation may have existed in the wholesale electricity market from 3 December 2019 to 18 December 2019.

Contact’s Chief Generation and Development Officer James Kilty said: “At the time there was more water than we could use for generation, given the Clutha River was in significant flood. Our focus in extreme flood events is always to operate the Clutha system to ensure the safety of communities downstream, our people and assets, and to manage our resource consent obligations. We have always disagreed with the allegations and we were surprised at the claim when it emerged in December.”

Mr Kilty said Contact would be fully engaging in the Electricity Authority’s consultation period, following the release of today’s preliminary view. “There is a long way to go in terms of the process.”

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