FY20 Q1 Performance Report

MARKET RELEASE
Date: 16 October 2019
NZX: GNE / ASX: GNE
FY20 Q1 Performance Report

Genesis Energy today released to the NZX/ASX its FY20 Q1 Performance Report for the three months
ended 30 September, 2019. The FY20 Q1 Performance Report is also available from the Genesis
Investor Centre.

FY20 Q1 Performance Summary

RETAIL

Genesis’ gross churn declined further over the quarter, down 1.6 ppt on the prior year, with net churn
down marginally, by 0.6 ppt. Customers choosing to purchase more than one fuel increased by 7,900
on the prior comparable period (pcp) and total ICP’s increased by nearly 6,300. A key driver of this
growth being a positive response to Genesis’ ‘For Dairy’ product, launched in May, and continued
growth in LPG. Netback margins were up materially across all fuels. Total electricity sales was down
by 0.5% on the prior year, with residential sales down 2.1% on pcp.

WHOLESALE

The fuel constraints observed in the prior year continued over the first quarter FY20 driven by gas
outages, declining gas production at Kupe and lower than average inflows in all hydro catchments. As
a result, spot prices remained elevated with the price received for generation up $39/MWh on pcp to
$125/MWh. The combination of these factors, including Genesis’ hydro generation 23% lower than
the prior comparable period, meant that thermal generation was up 39% on the prior comparable
period. Genesis’ average portfolio fuel cost increased 59% on pcp with the need for coal-fired
generation to replace unavailable gas and lower hydro generation volumes.

KUPE

Kupe operated at 97.2% of available capacity over the period, up from 95.8% on pcp, although
included two short unplanned maintenance outages in late September. Gas production was flat versus
pcp at 3.1 PJ, LPG yield remained high at 4.4 t/TJ, whilst oil yield was down 15% due to the natural
decline in the field. Oil sales for Genesis were recorded at 66,000 barrels, down 5% on pcp, with a
realised oil price of NZ$83/bbl, up 7% on the prior year. Notably, the Joint Venture approved the
commencement of Kupe’s Inlet Compression Project, expected to be completed by mid-2021.

“It was pleasing to see Genesis’ retail strategy continue to deliver growth in what is a competitive
market place, whilst our Wholesale portfolio managed the ongoing fuel constraints observed in the
second half of FY19,” 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 $NZ2.7 billion during the 12 months ended 30 June 2019. More
information can be found at www.genesisenergy.co.nz

---

16 October 2019
FY20 Q1
Performance Report
G E N E S I S E N E R G Y L I M I T E D

FY20 Q1 Performance Summary
Genesis’grosschurndeclinedfurtheroverthequarter,down1.6pptontheprioryear,withnet
churndownmarginally,by0.6ppt.Customerschoosingtopurchasemorethanonefuelincreased
by7,900onthepriorcomparableperiod(pcp)andtotalICP’sincreasedbynearly6,300.Akey
driverofthisgrowthbeingapositiveresponsetoGenesis’‘ForDairy’product,launchedinMay,
andcontinuedgrowthinLPG.Netbackmarginswereupmateriallyacrossallfuels.Totalelectricity
saleswasdownby0.5%ontheprioryear,withresidentialsalesdown2.1%onpcp.
ThefuelconstraintsobservedintheprioryearcontinuedoverthefirstquarterFY20drivenbygas
outages,declininggasproductionatKupeandlowerthanaverageinflowsinallhydro
catchments.Asaresult,spotpricesremainedelevatedwiththepricereceivedforgenerationup
$39/MWhonpcpto$125/MWh.Thecombinationofthesefactors,includingGenesis’hydro
generation23%lowerthanthepriorcomparableperiod,meantthatthermalgenerationwasup
39%onthepriorcomparableperiod.Genesis’averageportfoliofuelcostincreased59%onpcp
withtheneedforcoal-firedgenerationtoreplaceunavailablegasandlowerhydrogeneration
volumes.
Kupeoperatedat97.2%ofavailablecapacityovertheperiod,upfrom95.8%onpcp,although
includedtwoshortunplannedmaintenanceoutagesinlateSeptember.Gasproductionwasflat
versuspcpat3.1PJ,LPGyieldremainedhighat4.4t/TJ,whilstoilyieldwasdown15%duetothe
naturaldeclineinthefield.OilsalesforGenesiswererecordedat66,000barrels,down5%onpcp,
witharealisedoilpriceofNZ$83/bbl,up7%ontheprioryear.Notably,theJointVenture
approvedthecommencementofKupe’sInletCompressionProject,expectedtobecompletedby
mid-2021.
It was pleasing to see
Genesis’ retail strategy
continue to deliver
growth in what is a
competitive market
place, whilst our
Wholesale portfolio
managed the ongoing
fuel constraints
observed in the second
half of FY19.
Marc England, Chief Executive Officer
Customer
Wholesale
Kupe
Wholesale
Kupe
Note: The prior comparable period (pcp) is defined as FY19 Q1, unless an alternative comparison is stated
Genesis Energy Limited FY20 Q1 Performance Report 2.

Netback
Up across all fuels
Electricity + 6.1%
Gas + 6.9%
LPG
2
+ 19.5%
Customer Segment Performance
Highs
Lows
Cost to Serve
$141/ICP
Total Electricity Sales
Down to 1,717 GWh partly due to mild
temperatures translating to lower demand
Total LPG
Sales
13,122 tonnes
24.7%
0.5%
Customers > 1
fuel
119k
7.1%
RESIDENTIAL DUAL FUEL CUSTOMER NUMBERS & CHURN (3 MONTH ROLLING AVERAGE)
Genesis Net
Churn
1
15.7%
0.6ppt
1
Genesis residential customer churn, 3 month rolling average (excluding EOL)
2
LPG netback includes IFRS 16 –Lease adjustment in FY20 of approximately $20/t.
Genesis Gross
Churn
1
26.8%
1.6ppt
Genesis Energy Limited FY20 Q1 Performance Report 3.
4.1%
0%
2%
4%
6%
8%
10%
12%
100,000
102,000
104,000
106,000
108,000
110,000
112,000
114,000
116,000
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
Customers > 1 ProductDual Fuel Churn (RHS)

Wholesale Segment Performance
Average Price
Received for
Generation
$125/MWh
Hydro
Generation
759GWh
Highs
Lows
23.4%
Total Generation
1,851 GWh
4.3%
45.0%
High Plant
Reliability
Forced Outage Factor
of 0.3%
HUNTLY RANKINE UTILISATION (GWh)
Average Thermal
Fuel Cost
$81/MWh
18.8%
Average Portfolio
Fuel Cost
$48/MWh
59.0%
Thermal Output
up to 1,086 GWh in support
of low hydro inflows and
gas availability
39.4%
Genesis Energy Limited FY20 Q1 Performance Report 4.
0
50
100
150
200
250
300
Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
GWh
Genesis Customers/PortfolioBackup Swaption PartnersBackup Other Retailers/Spot Customers

Kupe Segment Performance
Realised Oil
Price
NZ$83/bbl
External
Sales
GNE 46% Kupe share
111 kbbl Oil13.9 kt LPG
3.1 PJ Gas
Fuels Portfolio
Electricity Generation
Wholesale Customers
Retail Customers
1,717 GWh Electricity
4.1PJ Gas
2.7 PJ Gas
0.3kt LPG
13.1 kt LPG
1,851 GWh Electricity
12.3 PJ Gas
6.1PJ Coal
0 GJ Diesel
759GWh Hydro
6GWh Wind
1,086 GWh Thermal
66kbbl Oil
13.4 kt LPG
4.5 kt LPG
External
Purchases
9.3PJ Gas
1.9PJ Coal
3.2kt LPG
0 PJ Coal
6.6%
GENESIS ENERGY FY20 Q1 INTEGRATED PHYSICAL ENERGY FLOWS
1
Highs
Lows
LPG Sales
13.9kt
3.7%
1
LPG/Oil/Coal difference represents movement in stock
Oil Production
Yield
Down to 36 bbl/TJ due to
natural decline in field
14.8 %
Gas Sales
3.0 PJ
Average Brent
Crude Oil Price
US$62/bbl
17.7 %
Genesis Energy Limited FY20 Q1 Performance Report 5.
flat

Glossary
Genesis Energy Limited FY20 Q1 Performance Report 6.
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 - $/tonne
Average selling price for customers including after prompt payment discount
Bottled LPG Sales (tonnes)
Represents 45kg LPG bottle sales
SME & Other Bulk LPG sales (tonnes)
Represents SME and other bulk and 3rd party distributors
Cost to Serve ($ per ICP)
Retail costs associated with serving customers across all fuel types divided by the total numbers of ICPs at time of reporting
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 ($/MWh)
Excludes settlements from electricity derivatives
Electricity CFD Purchases - Wholesale (GWh)
Settlement volumes of generation hedge purchase contracts, including ASX but excluding Financial Transmission Right (FTRs) or Cap/Collar/Floor contracts
Electricity CFD Sales - Wholesale (GWh)
Settlement volumes of generation hedge sale contracts, including ASX but exlcuding Financial Transmission Right (FTRs) or Cap/Collar/Floor contracts
Swaption Sales - Wholesale (GWh)
Electricity (swap/option) sales contract volume called, a subset of the Electricity CFD Sales - Wholesale (GWh)
Wholesale LPG Sales (tonnes)
Represents wholesale, export sales and transfers to Huntly power station
Weighted Average Gas Burn Cost ($/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 GJ/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

Retail Operating Metrics
Genesis Energy Limited FY20 Q1 Performance Report 7.
RETAIL SEGMENTQ1 FY20Q1 FY19
% ChangeVar.
YTD FY20YTD FY19
% ChangeVar.
RETAIL
Brand Net Promoter Score - Genesis (%)14.0% 18.0% (22.2%) (4)ppt
Interaction Net Promoter Score - Genesis (%)40.7% 36.0% 13.1% 4.7ppt
Gross Customer Churn (3 month rolling average, %)26.8% 28.4% (5.6%) (1.6)ppt
Net Customer Churn (3 month rolling average, %)15.7% 16.3% (3.7%) (0.6)ppt
Cost to Serve ($ per ICP)$141$147(4.1%)($6)
Electricity Netback ($/MWh)$114.01$107.416.1%$6.60$114.01$107.416.1%$6.60
Gas Netback ($/GJ)$9.3$8.76.9%$0.6$9.3$8.76.9%$0.6
LPG Netback ($/t)$1,031$86319.5%$168$1,031$86319.5%$168
CUSTOMER NUMBERS
Customers > 1 Fuel118,991 111,069 7.1%7,922
Electricity Only Customers326,149 338,551 (3.7%)(12,402)
Gas Only Customers16,150 17,697 (8.7%)(1,547)
LPG Only Customers34,196 35,862 (4.6%)(1,666)
Total Customers495,486 503,179 (1.5%)(7,693)
Electricity ICPs Active-Occupied501,993 502,181 0.0%(188)
Gas ICPs Active-Occupied106,443 106,253 0.2%190
LPG Customer Connections70,385 64,090 9.8%6,295
Total ICPs678,821 672,524 0.9%6,297
VOLUMES AND PRICE
Volume Weighted Average Electricity Selling Price - Resi ($/MWh)$253.47$247.742.3%$5.73$253.47$247.742.3%$5.73
Volume Weighted Average Electricity Selling Price - SME ($/MWh)$214.88$215.06(0.1%)($0.18)$214.88$215.06(0.1%)($0.18)
Volume Weighted Average Electricity Selling Price - C&I ($/MWh)$150.43$132.6113.4%$17.82$150.43$132.6113.4%$17.82
Residential Electricity Sales (GWh)940 960 (2.1%)(20) 940 960 (2.1%)(20)
SME Electricity Sales (GWh)290 274 5.8%16 290 274 5.8%16
C&I Electricity Sales (GWh)488 490 (0.4%)(2) 488 490 (0.4%)(2)
Total Electricity Sales - Customer (GWh)1,717 1,725 (0.5%)(8) 1,717 1,725 (0.5%)(8)
Volume Weighted Average Gas Selling Price - Resi ($/GJ)$27.2$25.85.4%$1.4$27.2$25.85.4%$1.4
Volume Weighted Average Gas Selling Price - SME ($/GJ)$14.5$14.40.7%$0.1$14.5$14.40.7%$0.1
Volume Weighted Average Gas Selling Price - C&I ($/GJ)$10.4$10.04.0%$0.4$10.4$10.04.0%$0.4
Residential Gas Sales (PJ)1.0 1.1 (9.1%)(0.1) 1.0 1.1 (9.1%)(0.1)
SME Gas Sales (PJ)0.6 0.5 20.0%0.1 0.6 0.5 20.0%0.1
C&I Gas Sales (PJ)1.1 1.0 10.0%0.1 1.1 1.0 10.0%0.1
Total Gas Sales (PJ)2.7 2.7 0.0%- 2.7 2.7 0.0%-
Volume Weighted Average LPG Selling Price - Resi ($/tonne)$2,463$2,22410.7%$239$2,463$2,22410.7%$239
Volume Weighted Average LPG Selling Price - SME/Bulk ($/tonne)$1,464$1,531(4.4%)($67)$1,464$1,531(4.4%)($67)
Bottled LPG Sales (tonnes)5,562 4,817 15.5%745 5,562 4,817 15.5%745
SME & Other Bulk LPG sales (tonnes)7,560 5,705 32.5%1,855 7,560 5,705 32.5%1,855
Total LPG Sales Volumes (tonnes)13,122 10,522 24.7%2,600 13,122 10,522 24.7%2,600
Note: Brand Net Promoter Score has been restated asatOctober 2019, following a change in supplier.

Wholesale Operating Metrics
Genesis Energy Limited FY20 Q1 Performance Report 8.
WHOLESALE SEGMENTQ1 FY20Q1 FY19% ChangeVar.YTD FY20YTD FY19% ChangeVar.
GENERATION
Gas (GWh)725 685 5.8% 40 725 685 5.8%40
Coal (GWh)361 93 288.2% 268 361 93 288.2%268
Total Thermal (GWh)1,086 779 39.4% 307 1,086 779 39.4%307
Hydro (GWh)759 991 (23.4%) (232) 759 991 (23.4%)(232)
Wind (GWh)6 6 0.0%- 6 6 0.0%-
Total Renewable (GWh)765 997 (23.3%) (232) 765 997 (23.3%)(232)
Total Generation (GWh)1,851 1,775 4.3% 76 1,851 1,775 4.3%76
Average Price Received for Generation - GWAP ($/MWh) $124.59$85.9245.0%$38.67$124.59$85.9245.0%$38.67
Generation Emissions (ktCO2)662 393 68.4% 269 662 393 68.4%269
Generation Carbon Intensity (tCO2/GWh)358 221 62.0% 137 358 221 62.0%137
Forced Outage Factor (FOF)0.3% 0.2% 50.0% 0.1% 0.3% 0.2% 50.0% 0.1%
Equivalent Availability Factor (EAF)94.6% 97.8% (3.3%) (3.2%)94.6% 97.8% (3.3%)(3.2%)
Rankine Output (GWh)374 118 216.9% 256 374 118 216.9%256
Rankines Fueled by Coal (%)97% 82% 18.3% 15% 97% 82% 18% 15%
WHOLESALE
Electricity Purchases - Customer (GWh)1,817 1,831 (0.8%)(14) 1,817 1,831 (0.8%)(14)
Average Retail Electricity Purchase Price - LWAP ($/MWh) $125.69$88.1142.7%$37.58$125.69$88.1142.7%$37.58
LWAP/GWAP Ratio (%)101% 103% (1.9%) (2.0%) 101% 103% (1.9%) (2.0%)
Gas Purchases (PJ)12.3 11.2 9.8%1.1 12.3 11.2 9.8%1.1
Coal Purchases (PJ)1.9 1.3 46.2% 0.6 1.9 1.3 46.2%0.6
Electricity CFD Purchases - Wholesale (GWh)809 613 32.0% 196 809 613 32.0%196
Electricity CFD Sales - Wholesale (GWh)453 525 (13.7%) (72) 453 525 (13.7%)(72)
Swaption Sales - Wholesale (GWh)50 - -50 342 266 28.6%76
Wholesale Gas Sales (PJ)4.1 3.2 28.1% 0.9 4.1 3.2 28.1%0.9
Wholesale Coal Sales (kilotonnes)- 4.1 (100.0%) (4.1)- 4.1 (100.0%)(4.1)
Wholesale LPG Sales (tonnes)291 1,950 (85.1%) (1,659) 291 1,950 (85.1%)(1,659)
Gas Used In Internal Generation (PJ)5.5 5.3 3.8% 0.25.5 5.3 3.8%0.2
Weighted Average Gas Burn Cost ($/GJ)$9.23$8.2611.7% $0.97$9.23$8.2611.7%$0.97
Coal Used In Internal Generation (PJ) 4.2 1.2 250.0% 3.0 4.2 1.2 250.0%3.0
Weighted Average Coal Burn Cost ($/GJ)$7.08$5.6126.2% $1.47$7.08$5.6126.2%$1.47
Weighted Average Fuel Cost - Portfolio ($/MWh)$47.79$30.0659.0% $17.73$47.79$30.0659.0%$17.73
Weighted Average Fuel Cost - Thermal ($/MWh)$81.44$68.5418.8% $12.90$81.44$68.5418.8%$12.90
Coal Stockpile - Closing Balance (kilotonnes)386 312 23.7% 74
Coal Stockpile - Stored Energy (PJ)8.5 6.9 23.2% 1.6

KUPE SEGMENT
Q1 FY20
Q1 FY19
% Change
Var.
YTD FY20
YTD FY19
% Change
Var.
KUPE
Gas Production (PJ)
3.1


3.1


0.0%
-


3.1


3.1


0.0%
-


Gas Sales (PJ)
3.0


3.0


0.0%
-


3.0


3.0


0.0%
-


Oil Production (kbbl)
111


130


(14.6%)
(19)


111


130


(14.6%)
(19)


Oil Production Yield (bbl/TJ)
36.2


42.5


(14.8%)
(6.3)


36.2


42.5


(14.8%)
(6.3)


Oil Sales (kbbl)
66


70


(5.7%)
(4)


66


70


(5.7%)
(4)


Realised Oil Price (NZD/bbl)
$83.34
$78.18
6.6%
$5.16
$83.34
$78.18
6.6%
$5.16
Average Brent Crude Oil (USD/bbl)
$61.94
$75.27
(17.7%)
($13.33)
$61.94
$75.27
(17.7%)
($13.33)
LPG Production (kt)
13.4


13.5


(0.7%)
(0.1)


13.4


13.5


(0.7%)
(0.1)


LPG Production Yield (t/TJ)
4.4


4.4


0.0%
-


4.4


4.4


0.0%
-


LPG Sales (kt)
13.9


13.4


3.7%
0.5


13.9


13.4


3.7%
0.5


OTHER
Q1 FY20
Q1 FY19
% Change
Var.
YTD FY20
YTD FY19
% Change
Var.
CORPORATE
Headcount (FTE)
1,094


1,052


4.0%
42


Total Recordable Injury Frequency Rate
1.18


1.31


(9.9%)
(0.13)


Kupe and Other Operating Metrics
1
Gas sales volume was not proportionate with production in FY20 Q1 due to as historic sales volumes being rebalanced within theJoint Venture.
2
TRIFR now being reported to include contractors. Prior period has been restated on same basis.
1
2
Genesis Energy Limited FY20 Q1 Performance Report 9.

Appendix: Retail Segment
Genesis Energy Limited FY20 Q1 Performance Report 10.
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
Q1 FY20
GWhGWh
ELECTRICITY SALES VOLUMES (GWh)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12month sales volume (RHS)
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
Q1 FY20
PJPJ
GAS SALES VOLUMES (PJ)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12month sales volume (RHS)
0
10,000
20,000
30,000
40,000
50,000
0
2,000
4,000
6,000
8,000
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Tonnes
Tonnes
LPG SALES VOLUMES (Tonnes)
Quarterly Bottled LPG Sales Volumes
Quarterly Bulk & SME LPG Sales Volume
Rolling 12month sales volume (RHS)
-
100
200
300
400
500
600
700
800
$120
$130
$140
$150
$160
$170
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
ICP Count
Thousands
Cost to Serve ($/ICP)
ICP NUMBER & COST TO SERVE ($/ICP)
Electricity ICPs Active-Occupied
Gas ICPs Active-Occupied

Appendix: Wholesale Segment
Genesis Energy Limited FY20 Q1 Performance Report 11.
0
20
40
60
80
100
120
140
OctNovDecJanFebMarAprMayJunJulAugSep
GWh
WAIKAREMOANA STORAGE vs LONG RUN AVERAGE
Waikaremoana StorageLong Run Average Storage
Source: COMIT
0
100
200
300
400
500
600
700
800
OctNovDecJanFebMarAprMayJunJulAugSep
GWh
TEKAPO STORAGE vs LONG RUN AVERAGE
Tekapo StorageLong Run Average Storage
Source: COMIT
0
1,000
2,000
3,000
4,000
OctNovDecJanFebMarAprMayJunJulAugSep
GWh
NEW ZEALAND DAILY STORAGE (ALL GENERATORS)
94 year Average12month Rolling
Source: COMIT
$50
$70
$90
$110
$130
$150
$170
$190
2016201720182019
ASX FUTURES SPOT PRICING
1-Year Contract2-Year Contract3-Year Contract

Appendix: Wholesale Segment
PLANT PERFORMANCE
Genesis Energy Limited FY20 Q1 Performance Report 12.
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
Jul-19
Sep-19
Forced Outage Factor (FOF) %
Equipment Availability Factor (EAF) %
Monthly EAFMonthly FOF
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Q1 2020Q1 2019
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
$0.00
$20.00
$40.00
$60.00
$80.00
$100.00
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
PORTFOLIO AND THERMAL FUEL COSTS
Weighted Average Fuel Cost - Portfolio ($/MWh)
Weighted Average Fuel Cost - Thermal ($/MWh)

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 PRODUCTION VOLUMES (GENESIS SHARE, kbbl)
Genesis Energy Limited FY20 Q1 Performance Report 13.
FORWARD RISK MANAGEMENT
Oil Price Hedges% HedgedAverage Oil Price
1-12 months65%$57.50
13-24 months54%$61.80
25-36 months17%$57.30
USD/NZD HedgesRate
1-12 months72%0.686
13-24 months68%0.676
25-36 months26%0.661
$30
$40
$50
$60
$70
$80
$90
OctNovDecJanFebMarAprMayJunJulAugSep
12 mths to Sep 1812 mths to Sep 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 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
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 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
kbbl
kbbl
Quarterly Production VolumeRolling 12 Months Sales Volume (RHS)