August 2020 Operating Report

Monthly Operating Report
August 2020
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 450 GWh(August
2019: 478 GWh)
•Mass market electricity and gas netback of $96.91/MWh
(August 2019: $90.98/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 783 GWh(August 2019:
787GWh)
•Electricity and steam net revenueof $90.37/MWh(August
2019: $85.94/MWh)
•Electricity generated (or acquired) of 897 GWh(August 2019:
855 GWh)
•The unit generation cost, which includes acquired generation
was $39.81/MWh(August 2019: $44.48/MWh)
•Own generation cost in the month of $37.91/MWh
(August 2019: $38.88/MWh)
»Otahuhu futures settlement wholesale price for
the 4
th
quarter of 2020 (ASX):
•As at 09 September 2020: $133/MWh
•As at 31 August 2020: $119/MWh
•As at 31 July 2020: $96/MWh
»As at 9September 2020, South Island
controlled storage was 58% of mean (31 August
2020: 58%) and North Island controlled storage
was 49% of mean (31 August 2020: 55%)
•As at9 Sept 2020, total Clutha scheme
storage (including uncontrolled storage)
was 45%of mean
•Inflows into Contact’s Clutha catchment
for August 2020 were 75% of mean
(July 2020: 122%,
June 2020: 73%,
May 2020: 64%,
April 2020: 83%)
For the month of August 2020

0
50
100
150
CY20CY21CY22CY23
$/MWh
28/06/201931/07/202031/08/2020
0
50
100
150
CY20CY21CY22CY23
$/MWh
28/06/201931/07/202031/08/2020
0
500
1000
1500
2000
2500
3000
3500
4000
4500
SepOctNovDecJanFebMarAprMayJunJulAug
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%
20%
40%
60%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Aug-20Aug-19Jul-20
0%
20%
40%
60%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Aug-20Aug-19Jul-20
0
50
100
150
200
250
300
$/MWh
FY20 BENFY21 BENFY20 OTAFY21 OTA
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

(2%)
0%
(1%)
(3%)
(4%)
(3%)
(2%)
(0%)
(5%)
(1%)
(12%)
(2%)
(4%)
(4%)
(2%)
2%
(4%)
(10%)
-
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 August 2019
»New Zealand electricity demand was down 3.5% on August 2019 (down 1.2% on
August 2018):
•Cumulative 12 months demand for Sept 2019 to Aug 2020 of 41,192 GWh is
down 0.5% to 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 August
2020 were 10.1º, 1.2º
higherthan August
2019: 8.9º

-
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
6
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 Two monthsended Two months ended
August 20August 19July 20August 20August 19
Customer
Mass market electricity salesGWh351 365 400 751 737
Retail gas salesGWh99 113 100 198 219
Mass market electricity and gas salesGWh450 478 499 949 956
Average electricity sales price$/MWh241.31 238.22 238.89 240.03 237.72
Electricity direct pass thru costs$/MWh(107.09)(113.04)(102.69)(104.75)(112.71)
Cost to serve$/MWh(16.47)(14.10)(15.63)(16.03)(14.34)
Customer netback$/MWh96.91 90.98 101.96 99.56 91.37
Energy cost$/MWh(93.37)(85.07)(102.80)(98.32)(88.59)
Actual electricity line losses%7%8%5%6%7%
Retail gas salesPJ0.4 0.4 0.4 0.7 0.8
Electricity ICPs#413,500 411,000 414,500 414,000 410,750
Gas ICPs#64,500 66,000 64,500 64,500 66,250
Broadband connections#30,000 15,000 28,000 29,000 14,500
Wholesale
Electricity sales to Customer businessGWh379 396 422 801 791
Electricity sales to Commercial and IndustrialGWh153 207 149 302 404
Electricity CFD salesGWh251 185 223 474 383
Contracted electricity salesGWh783 787 795 1,578 1,578
Steam salesGWh77 63 28 105 85
Total electricity and steam net revenue$/MWh90.37 85.94 103.31 96.70 88.80
C&I netback (at the ICP)$/MWh92.34 94.97 103.75 92.34 96.19
C&I line losses%3%4%4%5%4%
Thermal generationGWh251 215 278 529 405
Geothermal generationGWh261 285 271 532 571
Hydro generationGWh357 278 317 674 646
Spot electricity salesGWh869 778 865 1,735 1,621
Electricity sales -DirectGWh8 9 2 11 12
Acquired generationGWh19 68 9 28 99
Electricity generated (or acquired)GWh897 855 877 1,774 1,733
Unit generation cost (including acquired generation)$/MWh(39.81)(44.48)(40.09)(39.95)(39.68)
Spot electricity purchasesGWh(524)(594)(569)(1,093)(1,183)
CFD sale settlementsGWh(251)(185)(223)(474)(383)
Spot exposed purchases / CFD settlementGWh(775)(779)(793)(1,567)(1,566)
Spot revenue and settlement on acquired generation (GWAP)$/MWh110.66 125.79 144.85 127.62 114.59
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(117.48)(130.92)(154.01)(135.95)(120.30)
LWAP/GWAP%106%104%106%107%105%
Gas used in internal generationPJ2.2 2.0 2.3 4.5 3.5
Gas storage net movement (extraction) / injectionPJ(0.2)0.0 (0.2)(0.5)0.3

Contact Energy / Monthly Operating Report
8
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
Linkedin.com/company/contact-energy-ltd
Facebook.com/contactenergy
Youtube.com/ContactEnergy
To find out more about Contact Energy