Contact Energy CEO Mike Fuge welcomed the news that the life of New Zealand's Aluminium Smelter (`NZAS') at Tiwai Point will be extended until at least the end of 2024 while an economic transition for Southland is developed. As part of the arrangement announced, Contact has agreed to supply Meridian Energy with a portion of the electricity required to power the NZAS smelter at Tiwai Point. Contact will provide an average of 100 megawatts of baseload electricity through until the end of 2024 (assuming the smelter requires 572 megawatts of electricity).