New Zealand Power Company axes 100 jobs to save $40M

New Zealand's biggest listed electricity company has just reached the end of a $2 billion spending programme on new power stations

New Zealand Power Company axes 100 jobs to save $40M

The power plant at Contact Energy’s Otahuhu Power Station Photo/ Greg Bowker  Contact Energy, which is owned by Origin Energy in Australia, says electricity demand remains weak, and shows few prospects of growth. Electricity Authority statistics show that two-year contracts for wholesale power, are down 26 per cent on current prices. CEO, Dennis Barnes is […]