Meridian Energy (ASX:MEZ, NZE:MEL) signed a swaption and contract for difference with Contact Energy (ASX:CEN, NZE:CEN), enabling the latter to acquire roughly 2.8 petajoules of gas from Canada-based Methanex, according to a Thursday filing with the Australian and New Zealand bourses.
Contact Energy secured a contract with Methanex for the gas purchase, which will allow it to operate its Taranaki Combined Cycle gas-fired power station alongside the gas peaking units at Stratford through winter, as required, according to a separate filing.
Meridian Energy shares fell past 1% in afternoon New Zealand trade, while Contact Energy shares fell nearly 3% in midday Australia trade.
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