Power company has signed a “swaption” contract with Meridian Energy.
Meridian’s largest shareholder, the government, is getting a double-whammy benefit from its five-year programme to return up to $625 million to shareholders.
All the major electricity retailers and generators talk about how fierce the competition is, yet two of them have already put up retail energy prices and other is considering following suit. With special audio feature.
Contact Energy chose to return capital to shareholders through a share buyback while Meridian Energy chose to pay special dividends. With special audio feature.
Meridian Energy has taken a hit to its bottom line, largely as a result of Australian political uncertainty, and this is also affecting its future plans. With special audio feature.