Contact Energy posts 31% EBITDAF gain as renewable projects come online

Contact Energy reported a 31% increase in EBITDAF for its 2026 financial year, with management attributing the improvement to its pivot toward renewable generation. In results materials and on its earnings call, the New Zealand generator and retailer pointed to newly commissioned renewable capacity as the main driver of the earnings step-up. Contact has been investing in geothermal and other renewable projects while reducing reliance on thermal generation, a shift that lowers fuel costs and exposure to gas supply constraints. The company also outlined the operating performance of its retail business and the contribution of recently completed developments during the period.