Contact Energy's full-year net profit rose nearly $100 million to $423 million, but CEO Mike Fuge told RNZ that potential price cuts for residential customers remain uncertain despite increased renewable generation. Lines and transmission charges are forecast to continue rising, he said, meaning any reduction in the energy component of bills would be offset by other costs.

The company is also pursuing a partnership with data centre operator CDC to build a 250-megawatt facility near Contact's retired Taranaki gas plant, which could eventually demand about 350MW of electricity once ancillary systems are included. Fuge said New Zealand's renewable energy abundance, fibre connectivity and skilled workforce made it competitive with Nordic countries for data centre investment, rnz.co.nz reports.