{"id":89192,"date":"2025-10-20T02:57:06","date_gmt":"2025-10-20T02:57:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/89192\/"},"modified":"2025-10-20T02:57:06","modified_gmt":"2025-10-20T02:57:06","slug":"contact-energy-gas-price-hike-tens-of-thousands-of-customers-will-see-average-17-jump","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/89192\/","title":{"rendered":"Contact Energy gas price hike: Tens of thousands of customers will see average 17% jump"},"content":{"rendered":"

\u201cIn the past financial year, our entire net profit \u2013 and some \u2013 was invested in developing renewable energy projects. <\/p>\n

\u201cThe more power stations we build, the faster prices will come down over time. And this will help ensure New Zealand has a secure, sustainable renewable energy supply for households and businesses.\u201d<\/p>\n

A letter to one affected customer in Wellington said their prices would rise more than 20% on December 1, the Post reported. <\/p>\n

\"ContactContact has \u201ccommitted more than $2 billion on building the critical energy infrastructure New Zealand needs\u201d, retail officer Carolyn Luey says. Photo \/ 123rf<\/p>\n

One of Contact\u2019s energy plans will see prices increased to 14.9 cents per kilowatt hour, excluding GST or prompt-payment discounts, the Post said. <\/p>\n

It would see each gigajoule (GJ) of gas priced around $41.40, excluding GST, the Post said. <\/p>\n

The latest spot price for gas today was $13.12, Transpower-owned EMS Tradepoint showed. The average price for the quarter was listed today as $15.98. <\/p>\n

Statistics NZ last week revealed September price figures. <\/p>\n

Gas was 17% more expensive than a year ago and 1.4% more expensive than the month before, the data showed. <\/p>\n

The Post reported the country\u2019s largest gas user, methanol producer Methanex, was believed to pay $6\/GJ. Other businesses are paying $25 or more per GJ, a BusinessNZ survey from August found. <\/p>\n

Contact Energy chief executive Mike Fuge told the Herald in August: \u201cNo one foresaw the collapse on the upstream gas market, and how rapid it was going to be.<\/p>\n

\u201cThe answer is to get off base load gas [for continuous power generation], as we\u2019ve done, and to build more renewables as we\u2019re doing.<\/p>\n

\u201cAnd the answer is to actually keep going.\u201d<\/p>\n

Contact earlier reported a net profit of $331 million and earnings before interest, tax, depreciation, amortisation and financial instruments (ebitdaf) of $872m for the 2025 financial year.<\/p>\n

Raphael Franks<\/a> is an Auckland-based reporter who covers business, breaking news and local stories from T\u0101maki Makaurau. He joined the Herald as a Te Rito cadet in 2022.<\/p>\n

Sign up to The Daily H<\/a>, a free newsletter curated by our editors and delivered straight to your inbox every weekday.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cIn the past financial year, our entire net profit \u2013 and some \u2013 was invested in developing renewable…\n","protected":false},"author":2,"featured_media":89193,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[15140,2177,138,16579,4381,29384,1667,5346,63059,16460,47963,24826,67286,29012,23902,111,139,69,1118,3333,12937,8417,312,10534,15454,131,165,2742,1533],"class_list":["post-89192","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-15140","tag-average","tag-business","tag-contact","tag-customers","tag-decline","tag-energy","tag-expected","tag-faster","tag-gas","tag-harder","tag-hike","tag-hiked","tag-households","tag-jump","tag-new-zealand","tag-newzealand","tag-nz","tag-of","tag-price","tag-prices","tag-production","tag-says","tag-see","tag-tens","tag-than","tag-their","tag-thousands","tag-will"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/89192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=89192"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/89192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/89193"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=89192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=89192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=89192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}