April 2019 Operating Report

Monthly Operating Report
April 2019

For the month of April 2019
»The Customer business recorded:
•Mass market electricity and gas sales of 337 GWh
(April 2018: 342 GWh)
•Mass market electricity and gas netback of
$86.47/MWh(April 2018: $98.05/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including
that sold to the Customer business, totalled 673
GWh(April 2018: 674 GWh)
•Electricity and steam net revenueof $75.60/MWh
(April 2018: $75.55/MWh)
•Electricity generated (or acquired) of 792 GWh
(April 2018: 703 GWh)
•The unit generation cost, which includes acquired
generation was $33.62/MWh (April 2018:
$23.33/MWh)
•Own generation cost in the month of
$29.73/MWh (April 2018: $23.33/MWh)
April overview
Operating reportContact Energy Limited
2
»Otahuhufutures settlement wholesale price for the 3
rd
quarter of 2019 (ASX):
•As at 13 May 2019: $131/MWh
•As at 30 April 2019: $128/MWh
•As at 29 March 2019: $142/MWh
»As at 13 May 2019, South Island controlled storage
was 113% of mean (30 April 2019: 112%) and North
Island controlled storage was 58% of mean (31 March
2019: 66%)
•As at 13 May 2019, total Clutha scheme storage
(including uncontrolled storage) was 91% of mean
•Inflows into Contact’s Clutha catchment for April
2019 were 124% of mean (March 2019: 131%,
February 2019: 82%, January 2019: 102%)

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GWh
South Island ActualNorth Island Actual
South Island MeanNational Mean
Hydro storage and forward prices
New Zealand controlled hydro storage against mean
Operating reportContact Energy Limited
Benmore ASX futures settlement
Otahuhu ASX futures settlement
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<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
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<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
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Apr-19Apr-18Mar-19
Wholesale market
Wholesale electricity pricing
Operating reportContact Energy Limited
Distribution of wholesale market price by trading periods
Benmore node
Otahuhu node
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North IslandSouth IslandNZAS
Electricity demand
Operating reportContact Energy Limited
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Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
Regional demand change (%) on April 2018
Total national demand (FY17, 18 and 19)
»New Zealand electricity demand was up 0.3% on April 2018 (up 2.9%
on April 2017):
•Cumulative 12 months demand for May 2018 to April 2019 of
41,491 GWh is up by 0.8% on the prior comparative period.
Month Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Year
4%
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$/MWh
GWh
GeothermalHydroThermalAcquired generation
Acquired generationContracted electricity salesUnit generation cost (RHS)
Contact’s Wholesale business performance
Generation mix, gross sales position and unit generation cost (FY18 and 19)
Operating reportContact Energy Limited
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Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Year

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$/MWh
GWh
Mass market electricity salesRetail gas salesNetback
Retail sales volumes and netback (FY18 and 19)
Contact’s Customer business performance
7
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Year
Operating reportContact Energy Limited

Contact’s operational performance
8
Operating reportContact Energy Limited
Measure
The month ended The month ended The month ended Ten months endedTen months ended
April 19April 18March 19April 19April 18
CustomerMass market electricity salesGWh
273 285 239 2,862 2,938
Retail gas salesGWh
64 57 48 683 630
Mass market electricity and gas salesGWh
337 342 287 3,546 3,569
Average electricity sales price$/MWh
245.37 244.83 253.16 245.49 243.06
Electricity direct pass thru costs$/MWh
(122.62)(115.53)(130.80)(120.74)(119.07)
Cost to serve$/MWh
(22.99)(18.12)(24.61)(19.16)(19.03)
Customer netback$/MWh
86.47 98.05 88.06 91.00 91.40
Energy cost$/MWh
(70.40)(71.54)(87.01)(72.94)(71.54)
Actual electricity line losses%
2%7%9%7%7%
Retail gas salesPJ
0.2 0.2 0.2 2.4 2.1
Electricity ICPs (rounded to the nearest 500)#
409,500 414,000 408,500
Gas ICPs (rounded to the nearest 500)#
66,500 65,000 66,000
WholesaleElectricity sales to Customer businessGWh
279 304 262 3,083 3,166
Electricity sales to Commercial and IndustrialGWh
223 268 266 2,580 2,839
Electricity CFD salesGWh
171 101 286 1,388 1,046
Contracted electricity salesGWh
673 674 814 7,051 7,051
Steam salesGWh
39 55 44 528 526
Total electricity and steam net revenue$/MWh
75.60 75.55 82.52 77.46 73.67
C&I netback (at the ICP)$/MWh
89.55 86.35 93.21 83.80 82.48
C&I line losses%
5%4%4%4%4%
Thermal generationGWh
77 55 64 1,106 1,477
Geothermal generationGWh
279 274 262 2,691 2,777
Hydro generationGWh
384 366 333 3,394 2,782
Spot electricity salesGWh
740 694 658 7,191 7,036
Electricity sales -DirectGWh
5 8 6 79 85
Acquired generationGWh
46 0 189 557 480
Electricity generated (or acquired)GWh
792 703 853 7,827 7,601
Unit generation cost (including acquired generation)$/MWh
(33.62)(23.33)(41.18)(36.55)(35.39)
Spot electricity purchasesGWh
(497)(564)(522)(5,585)(5,919)
CFD salesGWh
(171)(101)(286)(1,388)(1,046)
Spot exposed purchases / CFD settlementGWh
(668)(666)(808)(6,973)(6,966)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
103.09 57.01 167.39 136.24 86.42
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(111.27)(62.22)(178.11)(142.34)(90.95)
LWAP/GWAP%
108%109%106%104%105%
Gas used in internal generationPJ
0.8 0.7 0.8 11.3 14.8
Gas storage net movement (extraction) / injectionPJ
0.0 0.5 (0.3)(2.6)(0.2)

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