Genesis Energy FY18 Q1 Performance Report

$238.36/MWh
Mass market volume
weighted average
electricity price
0.9%
57,563
LPG customers
including acquired
customers
40,877
384 GWh
TOU electricity
sales
27.0%
509,529
Total customers
1,101
1
2.5PJ
Retail gas sales
4.5%
$23.50/GJ
Volume weighted
average gas price
LPG Integration
On track, >70% customers migrated,
rebranding well progressed and customer
experience activities embedded
2.1%

$97.31/MWh
Average price received
for generation
66.2%
Highs
1,001 GWh
Total renewable
generation
23.2%
186 GWh
Swaptions called by South
Island generators
97.3%
Average monthly Equipment
Availability Factor (EAF) above
target
Lows
275 tCO2/GWh
Generation carbon intensity
up in support of low South
Island hydro storage
26.7%
2.0%
$0.5 –1m
Future costs identified to
repair roadingand slips
due to high hydro inflows
and flooding
Source: COMIT/Genesis Energy
DAILY AVERAGE WHOLESALE PRICES &NATIONAL HYDRO
South Island generators
exit swaptions
Storage returns to average and
prices fall to sub-$50/MWh

Highs
Lows
11.2kt
LPG production up
in support of sales
95.7%
36.1%
58 kbbl
Oil sales down due
to lower in tank
volumes
21.8%
USD52.08/bbl
Average Brent Crude spot
oil price
146 kbbl
Kupe oil
production up
3.1 PJ
gas production
supporting fuel
flexibility
47.8%
USD62.5/bbl
Average USD strike
price on oil contract
settlements
External
Sales
GNE 46% Kupe share
146 kbbl Oil
11.2 kT LPG
3.1 PJ Gas
Fuels Portfolio
Electricity Generation
Wholesale Market
Retail Customers
1,657 GWh Electricity
2.9 PJ Gas
2.5 PJ Gas
9.1 ktLPG
10.3 ktLPG
706 GWh Electricity
12.6 PJ Gas
2.0 PJ Coal
0 GJ Diesel
996 GWh Hydro
5 GWh Wind
2,099 GWh
58 kbbl Oil
18.7 ktLPG
0 ktLPG
External
Purchases
9.5 PJ Gas
1.0 PJ Coal
7.5 ktLPG
0.1 PJ Coal

First
Generation and
Wholesale hackathon
Highs
Lows
> 250
Registered customers
in Local Energy Project
Genesis
Brand refresh
successfully
launched
1.23
Total recordable
injury frequency
rate
0.71
2 MVPs
Developed and live for
home and solar
monitoring

CUSTOMER
Net Promoter ScoreBased on survey question "How likely would you be to recommend Genesis Energy/Energy Online to your friends or family?"
Electricity Market ShareMarket share based on Electricity Authority data for the end of quarter
Gas Market ShareMarket share based on Gas Industry Company data for the end of quarter
Customer ConnectionElectricity and gas customers are defined by number of connections (ICP).
Volume Weighted Average Electricity Selling Price - $/MWhAverage selling price for customers including lines/transmission and distribution and after prompt payment discount
Volume Weighted Average Gas Selling Price - $/MWhAverage selling price for customers including lines/transmission and distribution and after prompt payment discount
Average Retail Electricity Purchase Price - LWAP ($/MWh)Excludes settlements from electricity derivatives.
LPG Customer ConnectionsDefined as number of customers
LPG 45kg Market Share (%)Genesis Energy estimation based on company data, LPGA and MBIE data
Bottled LPG Sales (tonnes)represents 45kg LPG bottle sales
Wholesale LPG Sales (tonnes)represents sales LPG retailers
Other LPG Sales (tonnes)represents bulk, 3rd party distributors and export sales plus transfers to the Huntly Power Station
Electricity Sales - Wholesale (GWh)includes contracts for difference and options
Electricity Purchases - Wholesale (GWh)includes contracts for difference and options
Retail Netback ($/MWh)Customer Segment EBITDAF plus electricity and gas purchase cost divided by total electricity and gas sales volumes
GENERATION
Coal (GWh)Coal generation is calculated by applying coal burn to monthly average heat rates
Average Price Received for Generation - GWAP ($/MWh) Excludes settlements from electricity derivatives.
Coal Used In Internal Generation (PJ)Results have been revised to reflect changes in coal kilotonnes to PJ conversion rate and volume methodology
Rankines Fueled by Coal (%)
Equipment Availability Factor (EAF)the percentage of time a power station is available to generate electricity
Foreced Outage Factor (FOF)the percentage of time a power station is unavailable to generate electricity due to unplanned failure or defect.
WHOLESALE
Weighted Average Fuel Cost ($/MWh)Total cost of fuel burnt plus emissions on fuel burnt divided by total generation (thermal, hydro and wind)
CORPORATE
Total Recordable Injury Frequency RateRolling 12 month TRIFR per 200,000 hours worked
Headcount Based on full time equivalents, excluding contractors
KUPE
Oil Hedge Levels (%)% hedged for remainder of FY as % of forecast sales

CUSTOMER SEGMENT
Q1 FY18Q1 FY17% ChangeVar. YTD FY18YTD FY17% ChangeVar.
CUSTOMER
Net Promoter Score - Genesis Energy (%)1%(3%)133.3%4%
Retail Netback ($/MWh)$84.25$84.49(0.3%)($0.24)$84.25$84.49(0.3%)($0.24)
CUSTOMER NUMBERS
1
Electricity Only Customers348,717 NA
Gas Only Customers18,306 NA
LPG Only Customers32,718 NA
Customers > 1 Product109,788 NA
Total Customers509,529 NA
VOLUMES AND PRICE
Volume Weighted Average Electricity Selling Price - MM ($/MWh)$238.36$236.240.9%$2.12$238.36$236.240.9%$2.12
Volume Weighted Average Electricity Selling Price - TOU ($/MWh)$133.68$129.093.6%$4.59$133.68$129.093.6%$4.59
Mass Market Electricity Sales (GWh)1,273 1,340 (5.0%)(66) 1,273 1,340 (5.0%)(66)
TOU Electricity Sales (GWh)384 302 27.0%82 384 302 27.0%82
Electricity Sales - Retail (GWh)1,657 1,642 0.9%15 1,657 1,642 0.9%15
Electricity Sales - Wholesale (GWh)706 558 26.6%149 706 558 26.6%149
Electricity Purchases - Retail (GWh)1,753 1,768 (0.9%)(15) 1,753 1,768 (0.9%)(15)
Electricity Purchases - Wholesale (GWh)488 435 12.3%53 488 435 12.3%53
Average Retail Electricity Purchase Price - LWAP ($/MWh) $102.22$58.0076.2%$44.22$102.22$58.0076.2%$44.22
LWAP/GWAP Ratio (%)105%99%6.1%6%105%99%6.1%6%
Volume Weighted Average Gas Selling Price ($/GJ)$23.50$23.032.1%$0.47$23.50$23.032.1%$0.47
Mass Market Gas Sales (PJ)1.61.6(1.6%)(0.0)1.61.6(1.6%)(0.0)
TOU Gas Sales (PJ)0.91.0(9.1%)(0.1)0.91.0(9.1%)(0.1)
Retail Gas Sales (PJ)2.52.6(4.5%)(0.1)2.52.6(4.5%)(0.1)
Retail Gas Purchases (PJ)2.52.7(4.7%)(0.1)2.52.7(4.7%)(0.1)
LPG
LPG Customer Connections (#) 57,563 16,604 246.7%40,959
Bottled LPG Sales (tonnes)4,448 1,469 202.8%2,979 4,448 1,469 202.8%2,979
Other Bulk & SME LPG sales (tonnes)5,846 - 0.0%5,846 5,846 - 0.0%5,846
Total LPG Sales Volumes (tonnes)10,294 1,469 600.8%8,825 10,294 1,469 600.8%8,825
Wholesale LPG Sales (tonnes)9,067 4,158 118.1%4,909 9,067 4,158 118.1%4,909

WHOLESALE SEGMENT
Q1 FY18
Q1 FY17
% Change
Var.
YTD FY18
YTD FY17
% Change
Var.
GENERATION
Gas (GWh)
921


806


14.3%
115


921


806


14.3%
115


Coal (GWh)
177


29


504.4%
148


177


29


504.4%
148


Total Thermal (GWh)
1,098


835


31.5%
263


1,098


835


31.5%
263


Hydro (GWh)
996


864


15.2%
132


996


864


15.2%
132


Wind (GWh)
5


5


7.5%
0


5


5


7.5%
0


Total Renewable (GWh)
1,001


869


15.2%
132


1,001


869


15.2%
132


Total Generation (GWh)
2,099


1,704


23.2%
395


2,099


1,704


23.2%
395


Average Price Received for Generation - GWAP ($/MWh)
$97.31
$58.56
66.2%
$38.75
$97.31
$58.56
66.2%
$38.75
Generation Emissions (ktCO
2
)
577


370


56.1%
207


577


370


56.1%
207


Generation Carbon Intensity (tCO
2
/GWh)
275


217


26.7%
58


275


217


26.7%
58


Forced Outage Factor (FOF)
0.2%
0.2%
0.0%
0.0%
0.2%
0.2%
0.0%
0.0%
Equipment Availability Factor (EAF)
97.3%
97.2%
0.1%
0.1%
97.3%
97.2%
0.1%
0.1%
Rankine Output (GWh)
281
79


255.4%
202


281
79
255.4%
202


Rankines Fueled by Coal (%)
63%
37%
70.1%
26.0%
63%
37%
70.1%
26%
WHOLESALE
Gas Purchases (PJ)
12.6
13.0
(3.3%)
(0.4)
12.6
13.0
(3.3%)
(0.4)
Coal Purchases (PJ)
1.0
0.1
1736.0%
0.9
1.0
0.1
1736.0%
0.9
Wholesale Gas Sales (PJ)
2.9
4.2
(31.2%)
(1.3)
2.9
4.2
(31.2%)
(1.3)
Wholesale Coal Sales (PJ)
0.1
0.2
(54.4%)
(0.1)
0.1
0.2
(54.4%)
(0.1)
Gas Used In Internal Generation (PJ)
7.2
6.2
16.5%
1.0
7.2
6.2
16.5%
1.0
Coal Used In Internal Generation (PJ)
2.0
0.4
362.1%
1.6
2.0
0.4
362.1%
1.6
Weighted Average Fuel Cost ($/MWh)
$33.97
$31.12
9.2%
$2.85
$33.97
$31.12
9.2%
$2.85
Coal Stockpile - closing balance (kilotonnes)
296.8


382.2


(22.4%)
(85.5)

KUPE SEGMENT
Q1 FY18
Q1 FY17
% Change
Var.
YTD FY18
YTD FY17
% Change
Var.
KUPE
Gas Production (PJ)
3.1
2.1
47.8%
1.0
3.1
2.1
47.8%
1.0
Oil Production (kbbl)
145.8
107.1
36.1%
38.7
145.8
107.1
36.1%
38.7
Oil Sales (kbbl)
58.2
74.4
(21.8%)
(16.2)


58.2
74.4
(21.8%)
(16.2)


Average Brent Crude Spot Oil Price (USD/bbl)
$52.08
$45.85
13.6%
$6.23
$52.08
$45.85
13.6%
$6.24
LPG Sales (kt)
11.4
5.6
102.0%
5.7
11.4
5.6
102.0%
5.7
LPG Production (kt)
11.2
5.7
95.7%
5.5
11.2
5.7
95.7%
5.5
OTHER
CORPORATE
Headcount (FTE)
928
824
12.6%
104


Total Recordable Injury Frequency Rate
1.23
0.52
136.5%
0.71

FORWARD RISK MANAGEMENT
% HEDGED
Oil Price HedgesAverage Oil Price
1-12 months90%USD55.4
13-24 months53%USD55.9
25-36 months20%USD53.5
USD/NZD HedgesRate
1-12 months56%0.677
13-24 months36%0.690
25-36 months21%0.703

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