June 2020 Operating Report

Monthly Operating Report
June 2020
Putting our energy where it matters

Contact Energy / Monthly Operating Report
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»The Customer business recorded:
•Mass market electricity and gas sales of 447 GWh(June 2019:
453 GWh)
•Mass market electricity and gas netback of $101.03/MWh
(June 2019: $90.98/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 829 GWh(June 2019: 834
GWh)
•Electricity and steam net revenueof $94.80/MWh(June 2019:
$94.83/MWh)
•Electricity generated (or acquired) of 877 GWh(June 2019:
932 GWh)
•The unit generation cost, which includes acquired generation
was $42.82/MWh(June 2019: $33.68/MWh)
•Own generation cost in the month of $37.45/MWh(May
2019: $31.37/MWh)
»Otahuhu futures settlement wholesale price for
the 4
th
quarter of 2020 (ASX):
•As at 9 July 2020: $104/MWh
•As at 30 June 2020: $102/MWh
•As at 29 May 2020: $76/MWh
»As at 9 July2020, South Island controlled
storage was 77% of mean (30 June 2020: 78%)
and North Island controlled storage was 70% of
mean (30 June 2020: 73%)
•As at9 July2020, total Clutha scheme
storage (including uncontrolled storage)
was 63%of mean
•Inflows into Contact’s Clutha catchment
for June 2020 were 93% of mean
(May 2020: 64%,
April 2020: 83%,
March 2020: 90%)
For the month of June 2020
Contact will continue to consider the implications of a potential NZAS closure from 31 August 2021 on the company’s expected
earnings and dividend, and will update the market as required.

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CY20CY21CY22CY23
$/MWh
28/06/201929/05/202030/06/2020
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CY20CY21CY22CY23
$/MWh
28/06/201929/05/202030/06/2020
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JulAugSepOctNovDecJanFebMarAprMayJun
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
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12 MONTHS
Otahuhu
Benmore
ASX futures presented are at month end and precede the announcement from Rio Tinto that
NZAS will close from 31 August 2021

0%
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<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
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periods
Jun-20Jun-19May-20
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<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
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Jun-20Jun-19May-20
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FY19 BENFY20 BENFY19 OTAFY20 OTA
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

Total national demand
Contact Energy / Monthly Operating Report
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Regional demand change (%) on June 2019
»New Zealand electricity demand was down 1% on June 2019 (down 3% on June
2018), COVID-19 L4 and L3 lockdown were in place throughout April:
•Cumulative 12 months demand for July 2019 to June 2020 of 41,236 GWh is
down by 0.3% on the prior comparative period.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY18, 19 and 20 respectively
Regional demand is excluding NZAS
Nationwide
temperatures for June
2020 were 9.8º, 1.2º
higherthan June 2019:
8.6º
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JulAugSepOctNovDecJanFebMarAprMayJun
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North IslandSouth Island (exc. NZAS)NZAS

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$/MWh
GWh
Mass market electricity salesRetail gas salesNetback
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$/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 Twelve months endedTwelve months ended
June 20June 19May 20June 20June 19
CustomerMass market electricity salesGWh
357 356 315 3,523 3,533
Retail gas salesGWh
90 97 69 838 860
Mass market electricity and gas salesGWh
447 453 383 4,361 4,394
Average electricity sales price$/MWh
236.67 237.44 243.85 244.45 244.40
Electricity direct pass thru costs$/MWh
(107.66)(106.83)(109.00)(117.60)(119.08)
Cost to serve$/MWh
(11.90)(11.30)(17.70)(18.20)(18.53)
Customer netback$/MWh
101.03 90.98 101.63 93.11 90.75
Energy cost$/MWh
(94.77)(92.99)(92.24)(81.62)(75.61)
Actual electricity line losses%
6%8%8%6%7%
Retail gas salesPJ
0.3 0.4 0.2 3.0 3.1
Electricity ICPs#
417,500 410,500 407,000 410,000 408,000
Gas ICPs#
65,000 66,500 65,000 65,500 65,500
WholesaleElectricity sales to Customer businessGWh
378 387 341 3,741 3,789
Electricity sales to Commercial and IndustrialGWh
144 207 155 2,171 3,019
Electricity CFD salesGWh
307 241 170 2,085 1,844
Contracted electricity salesGWh
829 834 666 7,997 8,652
Steam salesGWh
20 10 27 544 558
Total electricity and steam net revenue$/MWh
94.80 94.83 86.12 80.63 79.97
C&I netback (at the ICP)$/MWh
92.35 86.54 88.77 84.23 84.97
C&I line losses%
4%5%5%5%4%
Thermal generationGWh
266 188 40 1,360 1,421
Geothermal generationGWh
263 279 301 3,333 3,256
Hydro generationGWh
285 430 361 3,752 4,231
Spot electricity salesGWh
815 897 702 8,444 8,908
Electricity sales -DirectGWh
1 1 3 79 83
Acquired generationGWh
61 34 19 335 634
Electricity generated (or acquired)GWh
877 932 724 8,858 9,625
Unit generation cost (including acquired generation)$/MWh
(42.82)(33.68)(23.19)(34.30)(36.12)
Spot electricity purchasesGWh
(521)(593)(493)(5,833)(6,725)
CFD sale settlementsGWh
(307)(241)(170)(2,085)(1,844)
Spot exposed purchases / CFD settlementGWh
(828)(833)(663)(7,918)(8,569)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
160.43 101.07 125.49 100.27 129.76
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(161.03)(103.40)(130.33)(106.04)(135.76)
LWAP/GWAP%
100%102%104%106%105%
Gas used in internal generationPJ
2.1 1.4 0.5 13.3 13.9
Gas storage net movement (extraction) / injectionPJ
(0.7)(0.1)0.4 1.7 (3.1)

Contact Energy / Monthly Operating Report
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investor.centre@contactenergy.co.nz
contact.co.nz/aboutus/investor-centre
+64 21 072 8578
Investors
Matthew Forbes –GM Corporate Finance
contact.co.nz
@ContactEnergy
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