July 2020 Operating Report

Monthly Operating Report
July 2020
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 499 GWh(July 2019:
478 GWh)
•Mass market electricity and gas netback of $101.96/MWh(July
2019: $91.75/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 795 GWh(July 2019: 790
GWh)
•Electricity and steam net revenueof $103.31/MWh(July 2019:
$91.80/MWh)
•Electricity generated (or acquired) of 877 GWh(July 2019: 878
GWh)
•The unit generation cost, which includes acquired generation
was $40.09/MWh(July 2019: $35.00/MWh)
•Own generation cost in the month of $38.97/MWh(July
2019: $32.35/MWh)
»Otahuhu futures settlement wholesale price for
the 4
th
quarter of 2020 (ASX):
•As at 10 Aug 2020: $99/MWh
•As at 31 July 2020: $96/MWh
•As at 30 June 2020: $112/MWh
»As at 10 August2020, South Island controlled
storage was 73% of mean (30 July 2020: 72%)
and North Island controlled storage was 59% of
mean (30 July 2020: 70%)
•As at10 Aug 2020, total Clutha scheme
storage (including uncontrolled storage)
was 89%of mean
•Inflows into Contact’s Clutha catchment
for July 2020 were 122% of mean
(June 2020: 73%,
May 2020: 64%,
April 2020: 83%)
For the month of July 2020

0
50
100
150
CY20CY21CY22CY23
$/MWh
28/06/201930/06/202031/07/2020
0
50
100
150
CY20CY21CY22CY23
$/MWh
28/06/201930/06/202031/07/2020
0
500
1000
1500
2000
2500
3000
3500
4000
4500
AugSepOctNovDecJanFebMarAprMayJunJul
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
FY20 BENFY21 BENFY20 OTAFY21 OTA
0%
20%
40%
60%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Jul-20Jul-19Jun-20
0%
20%
40%
60%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Jul-20Jul-19Jun-20
Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods
Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun

1%
19%
4%
7%
(2%)
5%
7%
4%
7%
8%
(10%)
2%
7%
2%
1%
(6%)
7%
5%
-
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
5
Regional demand change (%) on July 2019
»New Zealand electricity demand was up 2.4% on July 2019 (up 1.4% on July
2018):
•Cumulative 12 months demand for Aug 2019 to July 2020 of 41,328 GWh is
in line with the prior comparative period.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY19, 20 and 21 respectively
Regional demand is excluding NZAS
Nationwide
temperatures for July
2020 were 9.8º, 0.7º
lower than July 2019:
10.5º

-
20
40
60
80
100
120
0
100
200
300
400
500
600
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$/MWh
GWh
Mass market electricity salesRetail gas salesNetback
-
10
20
30
40
50
60
70
80
90
100
-
100
200
300
400
500
600
700
800
900
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 (FY20 and 21 respectively)
Retail sales volumes and netback (FY20 and 21 respectively)

Contact Energy / Monthly Operating Report
7
Measure
The month ended The month ended The month ended
July 20July 19June 20
CustomerMass market electricity salesGWh
400 372 357
Retail gas salesGWh
100 106 90
Mass market electricity and gas salesGWh
499 478 447
Average electricity sales price$/MWh
238.89 237.24 236.67
Electricity direct pass thru costs$/MWh
(102.69)(112.39)(107.66)
Cost to serve$/MWh
(15.63)(14.58)(11.90)
Customer netback$/MWh
101.96 91.75 101.03
Energy cost$/MWh
(102.80)(92.12)(94.77)
Actual electricity line losses%
5%6%6%
Retail gas salesPJ
0.4 0.4 0.3
Electricity ICPs#
414,500 410,500 417,500
Gas ICPs#
64,500 66,500 65,000
Broadband Connections#
28,000 14,000 26,000
WholesaleElectricity sales to Customer businessGWh
422 395 378
Electricity sales to Commercial and IndustrialGWh
149 197 144
Electricity CFD salesGWh
223 198 307
Contracted electricity salesGWh
795 790 829
Steam salesGWh
28 22 20
Total electricity and steam net revenue$/MWh
103.31 91.80 94.80
C&I netback (at the ICP)$/MWh
103.75 97.09 92.35
C&I line losses%
4%5%4%
Thermal generationGWh
278 190 266
Geothermal generationGWh
271 286 263
Hydro generationGWh
317 367 285
Spot electricity salesGWh
865 843 815
Electricity sales -DirectGWh
2 3 1
Acquired generationGWh
9 31 61
Electricity generated (or acquired)GWh
877 878 877
Unit generation cost (including acquired generation)$/MWh
(40.09)(35.00)(42.82)
Spot electricity purchasesGWh
(569)(590)(521)
CFD sale settlementsGWh
(223)(198)(307)
Spot exposed purchases / CFD settlementGWh
(793)(787)(828)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
144.85 103.74 160.43
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(154.01)(109.79)(161.03)
LWAP/GWAP%
106%106%100%
Gas used in internal generation
Gas storage net movement (extraction) / injection
PJ
2.3 1.6 2.1
PJ
(0.2)0.3 (0.7)

Contact Energy / Monthly Operating Report
8
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contact.co.nz/aboutus/investor-centre
+64 21 072 8578
Investors
Matthew Forbes –GM Corporate Finance
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@ContactEnergy
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