April 2020 Operating Report

Monthly Operating Report
April 2020
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 300 GWh(April 2019:
337 GWh)
•Mass market electricity and gas netback of $95.66/MWh(April
2019: $86.47/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 548 GWh(April 2019: 673
GWh)
•Electricity and steam net revenueof $79.81/MWh(April 2019:
$75.60/MWh)
•Electricity generated (or acquired) of 585 GWh(April 2019: 792
GWh)
•The unit generation cost, which includes acquired generation
was $24.89/MWh(April 2019: $33.62/MWh)
•Own generation cost in the month of $21.42/MWh(April
2019: $29.73/MWh)
»Otahuhufutures settlement wholesale price for
the 3
rd
quarter of 2020 (ASX):
•As at 13 May 2020: $92/MWh
•As at 30 April 2020: $88/MWh
•As at 31 March 2020: $99/MWh
»As at 13 May 2020, South Island controlled
storage was 106% of mean (30 April 2020:
100%) and North Island controlled storage was
60% of mean (30 April 2020: 54%)
•As at 13 May 2020, total Clutha scheme
storage (including uncontrolled storage)
was 110% of mean
•Inflows into Contact’s Clutha catchment
for April 2020 were 83% of mean (March
2020: 90%, February 2020: 189%,
January 2020: 68%)
For the month of April 2020

0
50
100
CY20CY21CY22CY23
$/MWh
28/06/201931/03/202030/04/2020
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150
CY20CY21CY22CY23
$/MWh
28/06/201931/03/202030/04/2020
0
500
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3500
4000
4500
MayJunJulAugSepOctNovDecJanFebMarApr
GWh
South Island ActualNorth Island Actual
South Island MeanNational Mean
New Zealand controlled hydro storage against mean
ASX futures settlement
Contact Energy / Monthly Operating Report
3
12 MONTHS
Otahuhu
Benmore

0
50
100
150
200
250
300
$/MWh
FY19 BENFY20 BENFY19 OTAFY20 OTA
0%
20%
40%
60%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Apr-20Apr-19Mar-20
0%
20%
40%
60%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Apr-20Apr-19Mar-20
Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
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Benmore
Distribution of wholesale market price by trading periods
Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun

-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
North IslandSouth Island (exc. NZAS)NZAS
Total national demand
Contact Energy / Monthly Operating Report
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Regional demand change (%) on April 2019
»New Zealand electricity demand was down 13.7% on April 2019 (down 13.5% on
April 2018), COVID-19 L4 and L3 lockdown were in place throughout April:
•Cumulative 12 months demand for May 2019 to April 2020 of 41,297 GWh is
down by 0.5% on the prior comparative period.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz, NIWA
FY18, 19 and 20 respectively
Regional demand is excluding NZAS
(3%)
(7%)
(1%)
(0%)
(3%)
(1%)
5%
(1%)
4%
3%
(8%)
(3%)
(7%)
(3%)
(16%)
5%
0%
Nationwide
temperatures for April
2020 were 13.5º, 0.2º
above average (April
2019: 13.1º)

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120
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600
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$/MWh
GWh
Mass market electricity salesRetail gas salesNetback
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10
20
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70
80
90
100
-
100
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300
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1,000
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$/MWh
GWh
GeothermalHydroThermal
Acquired generationContracted electricity salesUnit generation cost (RHS)
Wholesale
Contact Energy / Monthly Operating Report
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Customer
Generation mix, gross sales position and unit generation cost (FY19 and 20 respectively)
Retail sales volumes and netback (FY19 and 20 respectively)

Contact Energy / Monthly Operating Report
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Measure
The month ended The month ended The month ended Ten months endedTen months ended
April 20April 19March 20April 20April 19
CustomerMass market electricity salesGWh249 273 257 2,850 2,862
Retail gas salesGWh50 64 53 680 683
Mass market electricity and gas salesGWh300 337 310 3,531 3,546
Average electricity sales price$/MWh253.78 245.37 250.32 245.49 245.49
Electricity direct pass thru costs$/MWh(122.41)(122.62)(123.77)(119.79)(120.74)
Cost to serve$/MWh(23.81)(22.99)(20.45)(19.05)(19.16)
Customer netback$/MWh95.66 86.47 92.71 91.19 91.00
Energy cost$/MWh(75.08)(70.40)(87.67)(78.80)(72.94)
Actual electricity line losses%2%2%5%6%7%
Retail gas salesPJ0.2 0.2 0.2 2.4 2.4
Electricity ICPs#407,000 409,500 408,000
Gas ICPs#65,000 66,500 65,000
WholesaleElectricity sales to Customer businessGWh253 279 270 3,021 3,083
Electricity sales to Commercial and IndustrialGWh139 223 164 1,873 2,580
Electricity CFD salesGWh156 171 143 1,607 1,388
Contracted electricity salesGWh548 673 577 6,502 7,051
Steam salesGWh19 39 33 497 528
Total electricity and steam net revenue$/MWh79.81 75.60 87.29 78.36 77.46
C&I netback (at the ICP)$/MWh81.30 89.55 90.51 83.24 83.80
C&I line losses%4%5%7%5%4%
Thermal generationGWh11 77 59 1,053 1,106
Geothermal generationGWh291 279 290 2,768 2,691
Hydro generationGWh256 384 317 3,106 3,394
Spot electricity salesGWh557 740 666 6,927 7,191
Electricity sales -DirectGWh4 5 4 75 79
Acquired generationGWh23 46 1 255 557
Electricity generated (or acquired)GWh585 792 672 7,258 7,827
Unit generation cost (including acquired generation)$/MWh(24.89)(33.62)(25.90)(34.37)(36.55)
Spot electricity purchasesGWh(388)(497)(430)(4,819)(5,585)
CFD sale settlementsGWh(156)(171)(143)(1,607)(1,388)
Spot exposed purchases / CFD settlementGWh(544)(668)(573)(6,427)(6,973)
Spot revenue and settlement on acquired generation (GWAP)$/MWh46.06 103.09 59.03 90.40 136.24
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(49.76)(111.27)(66.15)(96.45)(142.34)
LWAP/GWAP%108%108%112%107%104%
Gas used in internal generationPJ0.2 0.8 0.7 10.7 11.3
Gas storage net movement (extraction) / injectionPJ0.6 0.0 (0.1)1.9 (2.6)

Contact Energy / Monthly Operating Report
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Investors
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