Policy Launch
Shearer will be stoked that he’s cost all KiwiSavers a fortune on the sharemarket today…
The share price of the country’s largest listed electricity generator-retailer, Contact Energy, has taken a 3 percent knock after the joint announcement by the Labour and Green parties of a radical rewind from electricity reforms of the last 25 years.
If sustained, that indicates the Labour-Green policy is the latest of a string of political decisions and commercial circumstances that can be expected to drive down the issue price of shares in the partial privatisation of Mighty River Power.
“The risk premium for investment in New Zealand would go through the roof,” says one investment banker, who declined to be named.











