FY19 Q4 Performance Report

MARKET RELEASE
Date: 25 July 2019
NZX: GNE / ASX: GNE
FY19 Q4 PERFORMANCE REPORT

Genesis Energy today released to the NZX/ASX its FY19 Q4 Performance Report for the three months
ended 30 June, 2019. The FY19 Q4 Performance Report is also available from the Genesis Investor
Centre, linked here.

FY19 Q4 Performance Summary

CUSTOMER

Genesis’ gross churn has continued to fall over the quarter, down 3 ppt on the prior year, with net
churn down 2 ppt. Customers with more than one fuel increased by 7,400 on the prior comparable
period (pcp) and total ICP’s increased by 2,800, with the standout performance being in LPG. Netback
margins were up materially across all fuels. Electricity demand was down by 5% on the prior year,
with mild temperatures a contributor to lower consumption. Genesis’ focus on product innovation
was a highlight with the launch of ‘For Dairy’ in May.

WHOLESALE

Pohokura outages and low inflows into North Island catchments prevailed throughout the quarter,
impacting generation mix. Thermal generation was up 16% on the prior year and hydro generation
13% lower. Wholesale spot prices remained elevated with the price received for generation up
$33/MWh on pcp. Genesis’ average portfolio fuel cost increased 24% on pcp. Rankine Unit 1
completed re-certification, providing for a further four years operating license, and returned to
service in June. Notably, Genesis signed a 130 MW Waverley Wind Farm off-take agreement with Tilt
Renewables, an important milestone in implementing the Future-gen framework.

KUPE

Plant reliability remained high for Kupe, operating at 99.7% of available capacity over the period. Gas
production was up 15% versus the prior comparable period, LPG yield was up 2.6%, whilst oil yield
was down 15% due to the natural decline in the field. Oil sales for Genesis were recorded at 170,000
barrels, down 13% on pcp due to the timing of shipments, and a realised oil price of NZ$89/bbl, up
6% on pcp.

“The innovative products we are delivering to our customers is helping to establish a platform for
enhanced customer engagement and sustainable growth,” said Chief Executive Marc England.

ENDS

For media enquiries, please contact:
Emma-Kate Greer
Group Manager Corporate Relations
Genesis Energy
M: 027 655 4499

For investor relations enquiries, please contact:
Cameron Parker
Investor Relations Manager

Genesis Energy
P: 09 951 9311
M: 021 241 3150

About Genesis Energy
Genesis Energy (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. Genesis sells electricity,
reticulated natural gas and LPG through its retail brands of Genesis Energy and Energy Online and is New
Zealand’s largest energy retailer with approximately 500,000 customers. The Company generates electricity
from a diverse portfolio of thermal and renewable generation assets located in different parts of the country.
Genesis also has a 46% interest in the Kupe Joint Venture, which owns the Kupe Oil and Gas Field offshore of
Taranaki, New Zealand. Genesis had revenue of $NZ2.3bn during the 12 months ended 30 June 2018. More
information can be found at www.genesisenergy.co.nz

---

23 July 2019
FY19 Q4
Performance Report
G E N E S I S E N E R G Y L I M I T E D

FY19
2Q4 PERFORMANCE REPORT
FY19 Q4 Performance Summary
Genesis’grosschurnhascontinuedtofalloverthequarter,down3pptontheprioryear,withnet
churndown2ppt.Customerswithmorethanonefuelincreasedby7,400onthepriorcomparable
period(pcp)andtotalICP’sincreasedby2,800,withthestandoutperformancebeinginLPG.
Netbackmarginswereupmateriallyacrossallfuels.Electricitydemandwasdownby5%onthe
prioryear,withmildtemperaturesacontributortolowerconsumption.Genesis’focusonproduct
innovationwasahighlightwiththelaunchof‘ForDairy’inMay.
PohokuraoutagesandlowinflowsintoNorthIslandcatchmentsprevailedthroughoutthequarter,
impactinggenerationmix.Thermalgenerationwasup16%ontheprioryearandhydrogeneration
13%lower.Wholesalespotpricesremainedelevatedwiththepricereceivedforgenerationup
$33/MWhonpcp.Genesis’averageportfoliofuelcostincreased24%onpcp.RankineUnit1
completedre-certification,providingforafurtherfouryearsoperatinglicense,andreturnedto
serviceinJune.Notably,Genesissigneda130MWWaverleyWindFarmoff-takeagreementwith
TiltRenewables,animportantmilestoneinimplementingtheFuture-genframework.
PlantreliabilityremainedhighforKupe,operatingat99.7%ofavailablecapacityovertheperiod.
Gasproductionwasup15%versusthepriorcomparableperiod,LPGyieldwasup2.6%,whilstoil
yieldwasdown15%duetothenaturaldeclineinthefield.OilsalesforGenesiswererecordedat
170,000barrels,down13%onpcpduetothetimingofshipments,andarealisedoilpriceof
NZ$89/bbl,up6%onpcp.
The innovative
products we are
delivering to our
customers is helping
to establish a platform
for enhanced
customer engagement
and sustainable
growth.
Marc England, Chief Executive
Officer
Customer
Wholesale
Kupe
Wholesale
Kupe
Note: The prior comparable period (pcp) is defined as Q4 FY18, unless an alternative comparison is stated

Netback
Up across all fuels
Electricity + 6.4%
Gas + 13.6%
LPG + 16.2%
3
Customer Segment Performance
Highs
Lows
Total Gas
Sales
2.3 PJ
6.5%
Total Electricity Sales
Down to 1,557 GWh partly due to mild
temperatures translating to lower demand
Total LPG
Sales
11,067 tonnes
11.1%
5.2%
Customers > 1
fuel
117.1k
6.8 %
RESIDENTIAL DUAL FUEL CUSTOMER NUMBERS & CHURN (3 MONTH ROLLING AVERAGE)
Genesis Net
Churn
1
15.4%
1.9 ppt
FY19
Q4 PERFORMANCE REPORT
1. Genesis residential 3 month rolling average churn (excluding EOL)
Genesis Gross
Churn
1
26.9%
2.8 ppt
0%
2%
4%
6%
8%
10%
12%
102,000
104,000
106,000
108,000
110,000
112,000
114,000
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Customers > 1 ProductDual Fuel Churn (RHS)

4
Wholesale Segment Performance
Average Price
Received for
Generation
$116/MWh
Hydro
Generation
629 GWh
Highs
Lows
12.9%
Total Generation
1,646 GWh
2.7%
FY19
Q4 PERFORMANCE REPORT
39.0%
High Plant
Reliability
Forced Outage Factor
down to 0.6%
94.5%
HUNTLY RANKINE UTILISATION (GWh)
Average Thermal
Fuel Cost
$77/MWh
10.0%
Average Portfolio
Fuel Cost
$47/MWh
23.9%
0
50
100
150
200
250
300
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
GWh
Genesis CustomersGenesis Customers (Unit 5 Gas/Planned Outages)
Backup Swaption PartnersBackup Other Retailers & Spot Customers
Thermal Output
up to 1,012 GWh in
support of low North
Island inflows
15.6%

5
Kupe Segment Performance
Realised Oil
Price
NZ$89/bbl
External
Sales
GNE 46% Kupe share
117 kbblOil13.6 ktLPG
3.1 PJ Gas
Fuels Portfolio
Electricity Generation
Wholesale Market
Retail Customers
1,557 GWh Electricity
3.4 PJ Gas
2.3 PJ Gas
1.5 ktLPG
11.1 ktLPG
1,646 GWh Electricity
11.4 PJ Gas
3.3 PJ Coal
0 GJ Diesel
629 GWh Hydro
5 GWh Wind
1,012 GWh Thermal
170 kbblOil
12.0 ktLPG
4.4 ktLPG
External
Purchases
8.5 PJ Gas
7.2 PJ Coal
2.6 ktLPG
0 PJ Coal
5.9%
Q4 FY19 INTEGRATED PHYSICAL ENERGY FLOWS
1
Highs
Lows
LPG Yield
4.4 t/TJ
2.6%
1.LPG/Oil/Coal difference represents movement in stock
Oil Production
Yield
Down to 38 bbl/TJ due to
natural decline in field
FY19
Q4 PERFORMANCE REPORT
15.1 %
Gas Production
3.1 PJ
15.2%
Average Brent
Crude Oil Price
US$69/bbl
7.4 %

6
Glossary
FY19
Q4 PERFORMANCE REPORT
CUSTOMER
Brand Net Promoter Score (%)
Based on survey question "How likely would you be to recommend Genesis Energy/Energy Online to your friends or family?"
Interaction Net Promoter Score (%)
Based on survey question "Based on your recent Interaction With GE/EOL, how likely would you be to recommend GE/EOL to your Friends/Family?"
Customers
Electricity and gas customers are defined by single customer view, regardless of number of connections (ICP's)
Single Customer View
Represents unique customers which may have multiple ICP's
ICP
Installation Connection Point, a connection point that is both occupied and has not been disconnected (Active-Occupied)
LPG Customer Connections
Defined as number of customers
Gross Customer Churn
Based on customers instigating a trader switch or home move, as opposed to net churn being post home move save and retentions
Net Customer Churn
Based on losing and gaining accounts under a Single Customer View
Resi, SME, C&I
Residential, small and medium enterprises and commercial & industrial customers
B2B
Business to Business, including both SME and C&I
Volume Weighted Average Electricity Selling Price - $/MWh
Average selling price for customers including lines/transmission and distribution and after prompt payment discount
Volume Weighted Average Gas Selling Price - $/GJ
Average selling price for customers including transmission and distribution and after prompt payment discount
Volume Weighted Average LPG Selling Price - $/tonne
Average selling price for customers including after prompt payment discount
Bottled LPG Sales (tonnes)
Represents 45kg LPG bottle sales
SME & Other Bulk LPG sales (tonnes)
Represents SME and other bulk and 3rd party distributors
Netback ($/MWh, $/GJ, $/tonne)
Customer EBITDAF by fuel type plus respective fuel purchase cost divided by total fuel sales volumes, stated in native fuel units (excluding corporate allocation costs)
GENERATION
Average Price Received for Generation - GWAP ($/MWh)
Excludes settlements from electricity derivatives.
Coal (GWh)
Coal generation is calculated by applying coal burn to monthly average heat rates
Coal Used In Internal Generation (PJ)
Results have been revised to reflect changes in coal kilo tonnes to PJ conversion rate and volume methodology
Rankine's Fuelled by Coal (%)
The proportion of coal used in the Rankine units
Equipment Availability Factor (EAF)
The percentage of time a power station is available to generate electricity
Forced Outage Factor (FOF)
The percentage of time a power station is unavailable to generate electricity due to unplanned failure or defect
WHOLESALE
Average Retail Electricity Purchase Price - LWAP ($/MWh)
Excludes settlements from electricity derivatives
Electricity CFD Purchases - Wholesale (GWh)
Settlement volumes of generation hedge purchase contracts, including ASX but excluding Financial Transmission Right (FTRs) or Cap/Collar/Floor contracts
Electricity CFD Sales - Wholesale (GWh)
Settlement volumes of generation hedge sale contracts, including ASX but exlcuding Financial Transmission Right (FTRs) or Cap/Collar/Floor contracts (including Swaptions)
Swaption Sales - Wholesale (GWh)
Electricity (swap/option) sales contract volume called, a subset of the Electricity CFD Sales - Wholesale (GWh)
Wholesale LPG Sales (tonnes)
Represents wholesale, export sales and transfers to Huntly power station
Weighted Average Gas Burn Cost ($/GJ)
Total cost of gas burnt divided by generation from gas fired generation, excluding emissions
Weighted Average Coal Burn Cost ($/GJ)
Total cost of coal burnt divided by generation from coal fired generation, excluding emissions
Weighted Average Fuel Cost - Portfolio ($/MWh)
Total cost of fuel burnt plus emissions on fuel burnt divided by total generation (thermal, hydro and wind)
Weighted Average Fuel Cost - Thermal ($/MWh)
Total cost of fuel burnt plus emissions on fuel burnt divided by total generation from thermal plant
Coal Stockpile - Stored Energy (PJ)
The coal stockpile closing balance in tonnes divided by an estimated nominal energy content of Huntly's coal (22,000GJ/t)
CORPORATE
Total Recordable Injury Frequency Rate
Rolling 12 month TRIFR per 200,000 hours worked for employees and contractors
Headcount
Based on full time equivalents, including contractors
KUPE
Oil Price realised (NZD/bbl)
Oil price received including hedge outcome for oil and foreign exchange
Oil Price realised (USD/bbl)
The underlying benchmark crude oil price that is used to set the price for crude oil sales
Oil Hedge Levels (%)
% hedged for remainder of FY as % of forecast sales

7
Customer Metrics
FY19
Q4 PERFORMANCE REPORT
1. Historical customer numbers restated post LPG integration.
CUSTOMER SEGMENTQ4 FY19Q4 FY18
% ChangeVar.
YTD FY19YTD FY18
% ChangeVar.
CUSTOMER
Brand Net Promoter Score - Genesis Energy (%)10.0% 10.0% - 0ppt
Interaction Net Promoter Score - Genesis (%)42.7% 40.3% 6.0% 2.4ppt
Gross Customer Churn (3 month rolling average, %)26.9% 29.7% (9.4%) (2.8)ppt
Net Customer Churn (3 month rolling average, %)15.4% 17.3% (11.2%) (1.9)ppt
Electricity Netback ($/MWh)$110.36$103.746.4%$6.62$104.93$100.284.6%$4.64
Gas Netback ($/GJ)$9.21$8.1013.6%$1.10$9.10$8.674.8%$0.42
LPG Netback ($/t)$941.20$810.2716.2%$130.92$835.95$767.478.9%$68.48
CUSTOMER NUMBERS
1
Customers > 1 Fuel117,138 109,710 6.8%7,428
Electricity Only Customers328,415 341,546 (3.8%)(13,131)
Gas Only Customers16,549 17,823 (7.1%)(1,274)
LPG Only Customers34,181 35,124 (2.7%)(943)
Total Customers496,283 504,203 (1.6%)(7,920)
Electricity ICPs Active-Occupied499,476 503,671 (0.8%)(4,195)
Gas ICPs Active-Occupied107,114 106,204 0.9%910
LPG Customer Connections (#) 68,466 62,365 9.8%6,101
Total ICPs675,056 672,240 0.4%2,816
VOLUMES AND PRICE
Volume Weighted Average Electricity Selling Price - Resi ($/MWh)$256.12$249.932.5%$6.19$255.82$252.261.4%$3.57
Volume Weighted Average Electricity Selling Price - SME ($/MWh)$225.45$217.173.8%$8.28$221.17$216.662.1%$4.51
Volume Weighted Average Electricity Selling Price - C&I ($/MWh)$139.00$127.648.9%$11.35$128.71$121.466.0%$7.25
Residential Electricity Sales (GWh)812 851 (4.6%)(39) 3,012 3,088 (2.5%)(76)
SME Electricity Sales (GWh)260 265 (1.9%)(5) 1,064 1,081 (1.5%)(16)
C&I Electricity Sales (GWh)485 525 (7.7%)(40) 1,991 1,811 10.0%180
Total Electricity Sales - Customer (GWh)1,557 1,642 (5.2%)(85) 6,067 5,980 1.5%88
Volume Weighted Average Gas Selling Price - Resi ($/GJ)$32.15$31.133.3%$1.01$32.99$32.860.4%$0.12
Volume Weighted Average Gas Selling Price - SME ($/GJ)$15.50$15.350.9%$0.15$16.01$16.51(3.0%)($0.50)
Volume Weighted Average Gas Selling Price - C&I ($/GJ)$10.27$9.913.6%$0.36$10.31$10.072.4%$0.24
Residential Gas Sales (PJ)0.7 0.7 0.5%0.0 2.7 2.7 1.3%0.0
SME Gas Sales (PJ)0.5 0.4 18.5%0.1 1.7 1.4 16.4%0.2
C&I Gas Sales (PJ)1.1 1.0 5.9%0.1 3.8 3.4 13.1%0.4
Total Gas Sales (PJ)2.3 2.1 6.5%0.1 8.2 7.5 9.5%0.7
Volume Weighted Average LPG Selling Price - Resi ($/tonne)$2,491$2,2679.9%$224$2,461$2,3783.5%$83
Volume Weighted Average LPG Selling Price - SME/Bulk ($/tonne)$1,496$1,501(0.4%)($5)$1,483$1,511(1.9%)($28)
Bottled LPG Sales (tonnes)4,483 4,151 8.0%332 15,308 14,012 9.2%1,296
SME & Other Bulk LPG sales (tonnes)6,584 5,814 13.2%770 23,200 20,993 10.5%2,207
Total LPG Sales Volumes (tonnes)11,067 9,965 11.1%1,102 38,507 35,005 10.0%3,503

8
Wholesale Metrics
FY19
Q4 PERFORMANCE REPORT
WHOLESALE SEGMENT
Q4 FY19
Q4 FY18
% Change
Var.
YTD FY19
YTD FY18
% Change
Var.
GENERATION
Gas (GWh)
696


740


(6.0%)


(45)


2,583


3,392


(23.8%)
(809)


Coal (GWh)
316


135


134.0%


181


1,404


657


113.7%
747


Total Thermal (GWh)
1,012


876


15.6%


136


3,987


4,049


(1.5%)
(62)


Hydro (GWh)
629


722


(12.9%)


(93)


2,812


3,036


(7.4%)
(224)


Wind (GWh)
5


6


(2.5%)


(0)


22


21


6.5%
1


Total Renewable (GWh)
634


727


(12.8%)


(93)


2,834


3,056


(7.3%)
(222)


Total Generation (GWh)
1,646


1,603


2.7%


43


6,821


7,105


(4.0%)
(284)


Average Price Received for Generation - GWAP ($/MWh)
$116.32
$83.69
39.0%
$32.64
$143.42
$91.59
56.6%
$51.83
Generation Emissions (ktCO2)
589


457


29.1%


133


2,491


2,139


16.5%
352


Generation Carbon Intensity (tCO2/GWh)
358


285


25.7%


73


365


301


21.3%
64


Forced Outage Factor (FOF)
0.6%


10.1%


(94.5%)


(9.5%)


0.3%


5.0%


(94.0%)


(4.7%)


Equivalent Availability Factor (EAF)
79.5%


86.5%


(8.1%)


(7.0%)
84.7%


89.4%


(5.2%)
(4.7%)
Rankine Output (GWh)
343


183


87.5%


160


1,599


1,042


53.5%
557


Rankines Fueled by Coal (%)
92%


74%


24.3%


18%


88%


63%


39%


25%


WHOLESALE
Electricity Purchases - Customer (GWh)
1,653


1,745


(5.3%)
(92)


6,395


6,298


1.5%
97


Average Customer Electricity Purchase Price - LWAP ($/MWh)
$111.08
$82.42
34.8%
$28.66
$139.01
$92.08
51.0%
$46.93
LWAP/GWAP Ratio (%)
95%


98%


(3.0%)


(3.0%)


97%


101%


(3.6%)


(3.6%)


Gas Purchases (PJ)
11.4


10.0


13.9%
1.4


42.7


45.9


(7.1%)
(3.3)


Coal Purchases (PJ)
7.2


2.4


201.1%


4.8


19.3


6.7


189.1%
12.6


Electricity CFD Purchases - Wholesale (GWh)
644


611


5.3%


33


2,255


2,023


11.4%
232


Electricity CFD Sales - Wholesale (GWh)
613


486


26.2%


127


2,475


2,711


(8.7%)
(236)


Swaption Sales - Wholesale (GWh)
30


-


-
30


342


266


28.6%
76


Wholesale Gas Sales (PJ)
3.4


2.0


69.2%


1.4


14.1


11.8


19.7%
2.3


Wholesale Coal Sales (kilotonnes)
-


4.8


(100.0%)


(4.8)
5.1


16.9


(69.6%)
(11.8)
Wholesale LPG Sales (tonnes)
1,315


1,252


5.0%


63


6,936


14,796


(53.1%)
(7,860)


Gas Used In Internal Generation (PJ)
5.7


5.8


(1.9%)


(0.1)
20.2


26.7


(24.2%)
(6.5)
Weighted Average Gas Burn Cost ($/GJ)
$8.80
$8.38
5.0%


$0.42
$8.69
$8.02
8.4%
$0.68
Coal Used In Internal Generation (PJ)
3.3


1.6


102.4%


1.6


15.9


7.6


107.2%
8.2


Weighted Average Coal Burn Cost ($/GJ)
$6.83
$5.69
19.9%


$1.13
$6.33
$5.44
16.3%
$0.89
Weighted Average Fuel Cost - Portfolio ($/MWh)
$47.23
$38.13
23.9%


$9.10
$43.13
$37.91
13.8%
$5.22
Weighted Average Fuel Cost - Thermal ($/MWh)
$76.82
$69.81
10.0%


$7.00
$73.78
$66.53
10.9%
$7.25
Coal Stockpile - Closing Balance (kilotonnes)
489


311


57.3%


178


Coal Stockpile - Stored Energy (PJ)
22.2


14.1


57.3%


8.1

KUPE SEGMENT
Q4 FY19
Q4 FY18
% Change
Var.
YTD FY19
YTD FY18
% Change
Var.
KUPE
Gas Production (PJ)
3.1


2.7


15.2%
0.4


11.8


11.8


0.6%
0.1


Gas Sales (PJ)
2.9


3.0


(4.1%)
(0.1)


11.4


12.1


(5.6%)
(0.7)


Oil Production (kbbl)
117


120


(2.2%)
(3)


473


533


(11.2%)
(60)


Oil Production Yield (bbl/TJ)
37.7


44.5


(15.1%)
(6.7)


40.0


45.3


(11.8%)
(5.3)


Oil Sales (kbbl)
170


196


(13.4%)
(26)


441


533


(17.3%)
(92)


Realised Oil Price (NZD/bbl)
$88.86
$83.88
5.9%
$4.99
$87.97
$80.02
9.9%
$7.96
Average Brent Crude Oil (USD/bbl)
$68.83
$74.35
(7.4%)
($5.53)
$68.77
$63.65
8.0%
$5.12
LPG Production (kt)
13.6


11.5


18.2%
2.1


50.6


45.9


10.3%
4.7


LPG Production Yield (t/TJ)
4.4


4.3


2.6%
0.1


4.3


3.9


9.6%
0.4


LPG Sales (kt)
13.8


11.8


17.0%
2.0


50.7


46.1


9.8%
4.5


OTHER
Q4 FY19
Q4 FY18
% Change
Var.
YTD FY19
YTD FY18
% Change
Var.
CORPORATE
Headcount (FTE)
1,075


1,041


3.3%
34


Total Recordable Injury Frequency Rate
1.43


1.34


6.7%
0.09


FY18
9
Kupe and Other Metrics
1. Gas sales volume was not proportionate with production in Q4 FY19 due to as historic sales volumes being rebalanced within the Joint Venture.
2. TRIFR now being reported to include contractors. Prior period has been restated on same basis.
Q4 PERFORMANCE REPORT
1
2

0
1000
2000
3000
4000
5000
6000
7000
0
200
400
600
800
1000
1200
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
GWhGWh
ELECTRICITY SALES VOLUMES (GWh)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12month sales volume (RHS)
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
45,000
0
1,000
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7,000
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Tonnes
Tonnes
LPG SALES VOLUMES (Tonnes)
Quarterly Bottled LPG Sales Volumes
Quarterly Bulk & SME LPG Sales Volume
Rolling 12month sales volume (RHS)
10
Appendix: Customer Segment
FY19
Q4 PERFORMANCE REPORT
6.4
6.6
6.8
7.0
7.2
7.4
7.6
7.8
8.0
8.2
8.4
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
PJPJ
GAS SALES VOLUMES (PJ)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12month sales volume (RHS)

11
Appendix: Wholesale Segment
FY19
Q4 PERFORMANCE REPORT
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
NEW ZEALAND DAILY STORAGE
94 year Average12month Rolling
Source: COMIT
0
50
100
150
200
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
WAIKAREMOANA STORAGE vs LONG RUN AVERAGE
Waikaremoana StorageLong Run Average Storage
Source: COMIT
0
100
200
300
400
500
600
700
800
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
TEKAPO STORAGE vs LONG RUN AVERAGE
Tekapo StorageLong Run Average Storage
Source: COMIT

0
5
10
15
20
25
30
35
40
FY19FY20FY21FY22FY23FY24FY25FY26
PJ
$7.50-
$8.50
$9.50-
$10.50
$9.00-
$10.00
$9.00-
$10.00
$8.50-
$9.50
$8.50-
$9.50
$8.00-
$9.00
12
Appendix: Wholesale Segment
PLANT PERFORMANCE
FY19
Q4 PERFORMANCE REPORT
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jul-16
Sep-16
Nov-16
Jan-17
Mar-17
May-17
Jul-17
Sep-17
Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Forced Outage Factor (FOF) %
Equipment Availability Factor (EAF) %
Monthly EAFMonthly FOF
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q4 2019Q4 2018Q4 YTD 2019Q4 YTD 2018
GWh
Hau Nui Wind Farm
Tekapo A and B power stations
Waikaremoana Power Scheme
Tongariro Power Scheme
Huntly Unit 6
Huntly Unit 5
Huntly Units 1 to 4 Gas
Huntly Units 1 to 4 Coal
GENERATION BY POWER STATION
TAKE-OR-PAY FORWARD GAS PURCHASES
1
–Q4 DISCLOSURE
1.Represents gas contracts under which Genesis is required to take the product or pay a penalty.
Includes Kupe and PPI adjustments

13
Appendix: Kupe Segment
OIL PRICE AND FOREX RISK MANAGEMENT
BRENT CRUDE OIL SPOT PRICE (USD/bbl)
KUPE GAS SALES VOLUMES (GENESIS SHARE, PJ)KUPE OIL PRODCUTION VOLUMES (GENESIS SHARE, kbbl)
FY19
Q4 PERFORMANCE REPORT
FORWARD RISK MANAGEMENT
Oil Price Hedges% HedgedAverage Oil Price
1-12 months60%$56.50
13-24 months49%$62.40
25-36 months5%$58.10
USD/NZD HedgesRate
1-12 months75%0.680
13-24 months48%0.690
25-36 months16%0.670
$30
$40
$50
$60
$70
$80
$90
JulAugSepOctNovDecJanFebMarAprMayJun
12 mths to Jun 1812 mths to Jun 19
-
2.0
4.0
6.0
8.0
10.0
12.0
14.0
-
0.5
1.0
1.5
2.0
2.5
3.0
3.5
Q1 FY16Q2 FY16Q3 FY16Q4 FY16Q1 FY17Q2 FY17Q3 FY17Q4 FY17Q1 FY18Q2 FY18Q3 FY18Q4 FY18Q1 FY19Q2 FY19Q3 FY19Q4 FY19
PJ
PJ
Quarterly Sales VolumeRolling 12 Months Sales Volume (RHS)
-
100.
200.
300.
400.
500.
600.
-
20.
40.
60.
80.
100.
120.
140.
160.
Q1 FY16Q2 FY16Q3 FY16Q4 FY16Q1 FY17Q2 FY17Q3 FY17Q4 FY17Q1 FY18Q2 FY18Q3 FY18Q4 FY18Q1 FY19Q2 FY19Q3 FY19Q4 FY19
kbbl
kbbl
Quarterly Production VolumeRolling 12 Months Sales Volume (RHS)