Latest Utilities News

Locality Planning Energy has signed three utility infrastructure agreements that will add approximately 750 electricity and water service points across Victoria and Queensland. The expansion requires about $1.28 million of LPE-funded investment, but revenue will build only as homes, connections and retail tenancies come online.

Contact Energy’s August operating report shows mass-market electricity and gas sales rising to 550GWh, while unit generation costs fell sharply to $40.90/MWh. Strong hydro storage and higher forward prices add support, although contracted wholesale sales remained broadly flat.

Locality Planning Energy CEO Scott Taylor has stepped down, with a three-person interim leadership team taking charge while the board searches for a permanent successor. The company says its growth strategy remains unchanged, but has not set a timetable for the appointment.

Locality Planning Energy (ASX:LPE) reversed losses to post a $2.31 million statutory profit in FY2026, driven by strategic acquisitions, improved earnings, and a strengthened balance sheet.

Channel Infrastructure NZ Limited reported a 47% rise in net profit for H1 2026, driven by expanded fuel storage capacity and upgraded EBITDA guidance, while declaring a 16% higher interim dividend.

Rubicon Water's FY26 results reveal an 11.6% revenue drop to $61.1 million and a net loss widening to $15.7 million, impacted by US federal funding delays and currency headwinds. Despite this, the company secured $28.4 million in second-half contracts and holds a $47 million major project pipeline, underpinning confidence for FY27 growth.

Synertec Corporation has been awarded the delivery phase of the Brooklyn Pump Station IO Upgrade by Melbourne Water, extending a contract valued at approximately $1.1 million. The project modernises critical water infrastructure with advanced operational technology.

Service Stream Limited (ASX: SSM) posted a modest 1.1% revenue rise to $2.35 billion for FY26, driven by Utilities and Asset & Facility Management growth, including a new Defence contract. EBITDA from operations surged 11.8% to $163.4 million, while statutory NPAT dipped 3.8% due to $21.2 million in ERP modernization costs. The company declared a final dividend increase to 3.5 cents per share.

Mercury NZ Limited posted a staggering 32,000% surge in net profit for FY26 despite an 8% revenue dip, underpinned by strong renewable generation and disciplined cost control.

Vector Limited (NZX:VCT) posted a 55% jump in net profit to $240 million for FY2026, driven by a 20% rise in adjusted EBITDA and a record $544 million capital investment in Auckland’s electricity network.

AGL Energy reported a 575% surge in statutory profit to $756 million for FY26, driven by strategic divestments and improved asset flexibility, while declaring a fully franked 50 cents dividend and progressing its energy transition with 12 GW of renewable capacity targeted by 2035.

De.mem Limited is poised for a record 2026, driven by 29 consecutive quarters of cash receipts growth, positive operating cashflow, and strategic expansion into the gold mining sector through Core Chemicals.