Mike Fuge: Contact Energy CEO on the company's 62% rise in underlying profit, household energy prices

Household energy bills are expected to keep rising, but the increases should be much lower than previous years.  Electricity gentailer Contact Energy's reported a 62% rise in underlying profit, due in part to higher renewable energy production.  Chief Executive Mike Fuge says power prices for businesses have been starting to fall.  But he told Mike Hosking power prices for consumers will keep rising as increases in lines and transmission charges will offset any reduction in their prices.  He says energy bills will continue to rise, but the good news is that will be at —or below— the rate of inflation.  LISTEN ABOVE See omnystudio.com/listener for privacy information.