Podcasts Other The Mike Hosking Breakfast Mike Fuge: Contact Energy chief executive says government interventions will slow energy sector down

Mike Fuge: Contact Energy chief executive says government interventions will slow energy sector down

Published: Aug. 11, 2024, 7:20 p.m.

One of the country's largest electricity generators and retailers is adamant the market is working as it should be.

The Electricity Authority and Commerce Commission are continuing to look into accusations of price gouging by so-called "gentailers" - companies that both generate electricity and provide it to consumers.

It comes after four mills announced they were either downsizing or planning on shutting entirely, blaming soaring prices.

Contact Energy chief executive Mike Fuge told Mike Hosking government interventions will slow the market down.

\u201cGovernment interventions have never had happy endings. And the same is what happened here when they announced the oil and gas ban. It hasn\u2019t had a good ending.\u201d

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