Forum Archive Index - February 2003

[Holden Glova <dsafari@paradise.net.nz>]

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On Sat, 08 Feb 2003 11:17, tennyson@caverock.net.nz wrote:
> Hi Macdunk,
>
> >What a great time to invest. Doom and gloom every where.   Stacking
> >gold under the bed and selling the family silver to do it.  Damned
> >pity Im fully invested.
>
> Lesson number 7.   Never be 'fully invested'.  I can't predict when
> any share will take a big leg downwards.   But I can predict that if
> you aren't fully invested, you will be there to take advantage of it.
>
> >Snoopy how will this affect contact energy.  Are they covered if
> >we run out of gas sooner than later?.  It looks like this
> >winter power may be in short supply yet again.
>
> It's a funny business this power thing MacDunk.   The profitability,
> as near as I can work it out, is largely determined by the cost of
> generation verses the wholesale price in the market.  If the price of
> gas goes up substantially (and I think it will) and the wholesale
> power price goes up in tandem, all that will do is make the Clyde
> dam, that Contact owns, hugely more profitable than it already is.
> I think a gas price increase will be a case of swings and roundabouts
> for Contact Energy
>
> Furthermore I am guessing that when the search for new gas fields
> begins in earnest ( and the only reason why it hasn't up to now is
> that Maui gas is so cheap ) then the new supply may not be as
> expensive as present dire predictions might lead us to fear.
>
> If I can possibly make it next week I'll be at the Contact
> AGM, so I can give 'sharechat' a first hand report back if the issue
> comes up.
>
> SNOOPY

Hi SNOOPY,

While on the subject of power, keep in mind that wind power will be being used 
in chch this year with a contract for the next 10 years.
http://www.localeye.info/pages?catId=1&articleId=379

- -- 
Signed,
Holden Glova
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