Contact Energy has reported an increase in net profit and says it expects to finalise a more generous electricity deal with Tiwai Point aluminium smelter.

It's recorded a net profit of $153 million for the six months to December.

CEO Mike Fuge says he's optimistic about a better long-term agreement with Rio Tinto.

"We've been really clear, there are three things- and like any negotiation, it's a two-way street."

LISTEN ABOVE

Contact Energy has reported an increase in net profit and says it expects to finalise a more generous electricity deal with Tiwai Point aluminium smelter.
It's recorded a net profit of $153 million for the six months to December.
CEO Mike Fuge says he's optimistic about a better long-term agreement with Rio Tinto.
"We've been really clear, there are three things- and like any negotiation, it's a two-way street."
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.