Contact secures gas from Methanex
Contact Energy Limited Level 2 Harbour City Tower, 29 Brandon Street, Wellington 6011 | PO Box 10742, Wellington 6143
P: +64 4 499 4001 | W: contactenergy.co.nz
13th August 2024
Contact secures gas from Methanex
Contact has reached an agreement with Methanex to purchase ~3.5PJ of gas to be supplied
from August through to October 2024, starting immediately. This is the equivalent of
~350GWh of electricity.
1
By securing additional fuel supply, Contact will be able to run its Taranaki Combined Cycle
gas-fired power station (TCC) through the remainder of 2024, if required by the market.
“With national hydro storage levels at just 46% of the average for this time of year, and an
ongoing decline in domestic gas production, we have taken this step to support security of
electricity supply to New Zealanders,” said CEO Mike Fuge.
“On top of the demand response agreement in place with the New Zealand Aluminium
Smelter, this Methanex agreement is another example of how industry flexibility can play a
key role in supporting New Zealand’s energy security.”
- ends -
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Investor enquiries
Shelley Hollingsworth
Investor Relations and Strategy Manager
+64 27 227 2429
shelley.hollingsworth@contactenergy.co.nz
Media enquiries
Louise Wright
Head of Communications and Reputation
+64 21 840 313
media@contactenergy.co.nz
1
Calculated at a heat rate of 10GJ/MWh in line with Contact’s FY25 guidance assumptions.
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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