Brief: Channel Infrastructure NZ Enters Long-Term Fixed Price Variable Volume Contract

Channel Infrastructure NZ

16/06/2023 02:33

June 16 (Reuters) - Channel Infrastructure NZ Ltd
 CHI.NZ :
    * ENTERED INTO A LONG-TERM FIXED PRICE VARIABLE VOLUME
CONTRACT
FOR SUPPLY OF RENEWABLE ELECTRICITY FROM 1 JANUARY 2024
    * ELECTRICITY PRICE IS FIXED OVER CONTRACT TERM AND IMPLIES
AN
ANNUAL ELECTRICITY SUPPLY COST OF NZ$6 MILLION PER ANNUM
    * CONTRACT FOR PERIOD OF 6 YEARS WITH RIGHT TO EXTEND FOR
FURTHER
2.25 YEARS TO 31 MARCH 2032 AT OPTION OF CHANNEL
    * FIXING ONE OF THE LARGEST OPERATING COSTS IS EXPECTED TO
DELIVER
 IMPROVED EARNINGS PROFILE FROM 2024 ONWARDS


Further company coverage:  CHI.NZ