Contact Energy reported an annual profit of $423 million. Mercury raked in $321m. Meridian picked up $130m. Genesis managed $85m. Combined, the four companies generated $959m in net profit.

That’s more than 1800% higher than last year’s result of $49m in profit across all four companies, though well short of the $1.5b record mark set in 2022. In terms of operating earnings, it was comfortably the most lucrative year the companies had ever seen, bringing in a combined $3.65bn.

Read more at thespinoff.co.nz.

Directed, filmed and edited by Isaiah Tour.
Written and presented by Robbie Nicol.
Made with the support of NZ On Air.