Mighty River Power quadruples profit

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Mighty River Power quadruples profit

3News NZ

Doug Heffernan

Doug Heffernan

Mighty River Power has reported a near quadrupling of net profit to $75 million.

This comes at a time when demand for electricity is being described as flat.

Chief executive Doug Heffernan spoke to Firstline about the profit announcement this morning – watch the video.

 

 

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Comments

22/02/2013 4:42:31 p.m.

paul wrote:

The old saying goes, Too much greed can make you end belly up.

22/02/2013 12:44:52 p.m.

Wiseacre wrote:

Selling power to a captive market is easy, it is a *product* that people HAVE to have. It is obscene that they make such outrageous profits. Over the past 20 years New Zealand power consumers have had some of the highest power price rises in the world. Vital infrastructure shouldn't be about making large profits. It should be about providing the opportunity for business & society to develop & grow, not clipping the ticket every time the service is used. Our energy system is fundamental to our economy - it should not be tapped as a source of profit itself.