Investment Thesis Playing Out; Contact Remains our Preferred Gentailer
Narrow-moat-rated Contact Energy’s earnings are quickly improving from the drought-impacted start of fiscal 2018. November was particularly strong compared with the same month last year, with higher average retail prices, lower costs to serve, stronger geothermal generation volumes and derivative trading gains. While the firm's hydroelectric output is hindered by dry weather, the high wholesale price and return of the Taranaki gas-fired power station imply an improving earnings outlook. Separate...Contact Energy sell electricity, gas and liquefied petroleum gas (LPG) products and services to residential, small business, commercial and industrial customers. Co. has two operating segments: Integrated Energy, which is a generator of electricity and a purchaser and retailer of electricity and natural gas to customers throughout New Zealand; as well as Other, which consists of other products and services provided by Co., which includes the sale of LPG.
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