Contact Energy - CEN Chart

[airedale]

Hi guys, I am with Contact in Rangiora, and not too impressed with them. But my daughter in Christchurch gets her power from Powershop. It is not available in all areas yet, but you can buy your power at cheaper than normal rates, or buy it in advance when it is cheaper. You can check the website and stock up when the buy rate is lowest.
Just wondered if anyone here is using Powershop.

[Jaa]

My previous house was with PowerShop (which is just Meridian) for a about a year.

Its one of those ideas which seems like a good idea at the time but which became quite annoying.

Do I really need to receive emails from my power company twice a week and be able to purchase power whenever I feel like it? A monthly bill for power at a fixed rate actually works fine. Better things to do with the time.

[Oiler]

Do I really need to receive emails from my power company twice a week and be able to purchase power whenever I feel like it? A monthly bill for power at a fixed rate actually works fine. Better things to do with the time.

Agree with you Jaa. Find a supplier best suited to you and your area.
We can spend so much time chasing our tails to save a few cents. At the end of the day we are talking peanuts.

[percy]

I am glad you posters feel that way.I thought I was just getting lazy not chasing my tail looking for the best deal.No.1 daughter{the one married to gunnar} told me she rang her power supplier and asked them their rates, as she had been approached by another supplier who said they would give her a better deal.Told if she committed to stay with them for a year they would give her a $200 credit on her account straight away.May get her to do the same for me.!!!

[iceman]

I also agree with you Jaa, I don't need or want emails or selling/marketing garb from my power supplier each week. I am a customer (and shareholder) that expects competitive prices and reasonable service. I have been with Contact as a customer for about 12 years and a shareholder for 5 years and I DID EXPECT THEM TO RESPOND TO MY EMAIL. I also agree with you Oiler that I it is not worth chasing a saving of a few cents. In my case (see my above post), I am talking about my household saving around $ 325 per year on my electicity costs for my home, by changing from Contact to Trustpower (yes my home is a high user of electricity and I don't apologies for it)................

[Hoop]

WARNING....
NZ Investment Securities have posted an offer to shareholders offering a cash offer for all your CEN shares for $4.07.
You will probably get the acceptance form in the mail today. It is a short notice offer - closes 6.00pm 7 January 2011

Note: Last sell price for CEN was $6.20

These guys had a go at DNZ in 8/10/2010 with an offer of 75c when the trading price was about 110c. DNZ put out an announcement warning to their shareholders of this unethical practice.....Under New Zealand law it is not illegal to offer to buy securities below their value, although these offers must not be misleading or deceptive. The term "misleading or deceptive" is difficult to interpret..

Edit: I have informed the NZX..I hope I have better luck contacting them this time.

[Gasbox]

Announced about a week ago....New CEO on his way to Contact, he is the managing director of ERM department (most profitable department and encorporates Pricing, trading and Risk ........) at the Origin sydney office, and has worked here since 1998.
He has been great with Origin, instrumental with the acquisition of Country and Integral and the Gentrader agreements.

Very popular with staff is the general consensus which should help to stem the high senior executive turnover over at Contact I imagine.
I think it is a great move for Contact shareholders....so thought you might appreciate a heads up and brief overview of the new CEO.

Disclosure: have traded under DB, not a contact energy shareholder

[macduffy]

Yes, let's hope that that's good news for CEN's minority shareholders.

CEN has always been managed in Origin's best interests, naturally enough, which havn't always coincided with those of the smaller shareholders.

[troyvdh]

call me paranoid...but given whats happening globally ....why/how can a utility company paying a 4+% div.....be sold down on fairly good volume.....but i am willing to bet ($100) that within 12 months Origin will again launch another bid for total ownership.

Number of bets will depend on accepted sanity...determined by me

as an aside ...all "things" are OK with me...(ChCh)

cheers

[Xerof]

So you will be buying OCFHA's then Troy? Have a read of the prospectus terms and conditions regarding what happens if there is a full takeover of CEN

buy today at 63c, get $1.00 back plus coupon

pleased to hear you're OK (ChCh)