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Big Profits Big Bills | Auckland News
Big energy giants are raking in billions—Mercury with $321 million, Contact Energy even higher at $423 million—while everyday consumers face skyrocketing power bills. Companies justify the profits as essential for building new plants and upgrading the grid, especially for renewables, citing massive investments like Contact’s $2.4 billion over five years. But consumer advocates argue the profits come from inflated prices on already paid-for infrastructure, not innovation, and demand separating generation from retail to boost competition and lower costs. New rules from the Electricity Authority…
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