Pipeline infrastructure providers Enterprise Products (+6%) and Kinder Morgan (+5%) started the year strongly as energy prices recovered strongly and industry activity increased.

Rio Tinto gave notice to Meridian Energy (-4%) and Contact Energy (-8%) that it will keep the Tiwai Point aluminium smelter open through to December 2024. The outcome avoids the worst case scenario for the New Zealand electricity sector as it prevents a demand shortfall and gives the companies timeto build replacement demand for 2025 and beyond. However, share prices in the sector have recently been volatile driven by heavy buying by exchange traded renewable energy funds at the end of 2020 and actually fell during January despite the positive news