November 2019 Operating Report

Monthly Operating Report
November 2019

For the month of November 2019
»The Customer business recorded:
•Mass market electricity and gas sales of 313 GWh
(November 2018: 317 GWh)
•Mass market electricity and gas netback of
$90.48/MWh(November 2018: $92.82/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including
that sold to the Customer business, totalled 596
GWh (November 2018: 657 GWh)
•Electricity and steam net revenueof $68.50/MWh
(November 2018: $68.01/MWh)
•Electricity generated (or acquired) of 718 GWh
(November 2018: 796 GWh)
•The unit generation cost, which includes acquired
generation was $23.90/MWh(November 2018:
$29.16/MWh)
•Own generation cost in the month of
$20.51/MWh(November 2018: $24.55/MWh)
November overview
Operating reportContact Energy Limited
2
»Otahuhufutures settlement wholesale price for the 1
st
quarter of 2020 (ASX):
•As at 10 December 2019: $148/MWh
•As at 29 November 2019: $148/MWh
•As at 31 October 2019: $142/MWh
»As at 11 December 2019, South Island controlled
storage was 180% of mean (30 November 2019:
127%) and North Island controlled storage was 124%
of mean (30 November 2019: 129%)
•As at 11 December 2019, total Clutha scheme
storage (including uncontrolled storage) was
156% of mean
•Inflows into Contact’s Clutha catchment for
November 2019 were 174% of mean (October
2019: 92%, September 2019: 52%, August 2019:
74%)

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CY19CY20CY21CY22
$/MWh
28/06/201931/10/201929/11/2019
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CY19CY20CY21CY22
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28/06/201931/10/201929/11/2019
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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
3

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$/MWh
FY19 BENFY20 BENFY19 OTAFY20 OTA
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<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading periods
Nov-19Nov-18Oct-19
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<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading periods
Nov-19Nov-18Oct-19
Wholesale market
Wholesale electricity pricing
Operating reportContact Energy Limited
Distribution of wholesale market price by trading periods
Benmore node
Otahuhu node
4

Electricity demand
Operating reportContact Energy Limited
5
Regional demand is excluding NZAS
[Data not available at time of publishing]

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$/MWh
GWh
GeothermalHydroThermalAcquired generationContracted electricity salesUnit generation cost (RHS)
Contact’s Wholesale business performance
Generation mix, gross sales position and unit generation cost (FY19 and 20)
Operating reportContact Energy Limited
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Year
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun

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$/MWh
GWh
Mass market electricity salesRetail gas salesNetback
Retail sales volumes and netback (FY19 and 20)
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 Five months endedFive monthsended
November 19November 18October 19November 19November 18
CustomerMass market electricity salesGWh
255 259 296 1,610 1,628
Retail gas salesGWh
58 59 83 436 435
Mass market electricity and gas salesGWh
313 317 379 2,046 2,063
Average electricity sales price$/MWh
249.66 248.94 241.12 240.91 241.38
Electricity direct pass thru costs$/MWh
(122.56)(120.37)(117.07)(115.81)(115.31)
Cost to serve$/MWh
(22.77)(20.85)(19.04)(17.23)(16.16)
Customer netback$/MWh
90.48 92.82 87.32 90.55 92.02
Energy cost$/MWh
(67.50)(61.08)(70.15)(79.82)(73.46)
Actual electricity line losses%
7%8%5%7%7%
Retail gas salesPJ
0.2 0.2 0.3 1.6 1.5
Electricity ICPs#
410,500 406,000 410,500
Gas ICPs#
65,500 65,500 66,000
WholesaleElectricity sales to Customer businessGWh
274 282 311 1,724 1,751
Electricity sales to Commercial and IndustrialGWh
198 261 204 1,005 1,312
Electricity CFD salesGWh
124 114 128 801 592
Contracted electricity salesGWh
596 657 644 3,530 3,655
Steam salesGWh
65 66 61 278 296
Total electricity and steam net revenue$/MWh
68.50 68.01 73.02 79.45 78.50
C&I netback (at the ICP)$/MWh
70.74 67.92 84.12 85.46 84.10
C&I line losses%
5%4%5%4%4%
Thermal generationGWh
23 31 89 781 797
Geothermal generationGWh
248 273 271 1,373 1,425
Hydro generationGWh
413 440 306 1,541 1,680
Spot electricity salesGWh
684 744 666 3,694 3,902
Electricity sales -DirectGWh
9 10 10 40 42
Acquired generationGWh
24 42 28 192 112
Electricity generated (or acquired)GWh
718 796 703 3,926 4,055
Unit generation cost (including acquired generation)$/MWh
(23.90)(29.16)(38.05)(38.35)(33.25)
Spot electricity purchasesGWh
(462)(533)(506)(2,689)(3,022)
CFD sale settlementsGWh
(124)(114)(128)(801)(592)
Spot exposed purchases / CFD settlementGWh
(586)(648)(634)(3,489)(3,614)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
98.41 164.79 124.22 114.48 140.10
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(105.58)(181.27)(129.81)(120.80)(143.82)
LWAP/GWAP%
107%110%105%106%103%
Gas used in internal generationPJ
0.4 0.5 1.0 7.3 7.6
Gas storage net movement (extraction) / injectionPJ
0.1 0.4 0.0 (0.0)(2.1)

Keep in touch
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Investors
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