September 2020 Operating Report

Monthly Operating Report
September 2020
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 398 GWh(September
2019: 398 GWh)
•Mass market electricity and gas netback of $101.48/MWh
(September 2019: $91.74MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 725 GWh(September 2019:
712GWh)
•Electricity and steam net revenueof $83.78/MWh(September
2019: $74.60/MWh)
•Electricity generated (or acquired) of 831 GWh(September
2019: 773 GWh)
•The unit generation cost, which includes acquired generation
was $37.59/MWh(September 2019: $49.07/MWh)
•Own generation cost in the month of $35.21/MWh
(September 2019: $45.97/MWh)
»Otahuhu futures settlement wholesale price for
the 4
th
quarter of 2020 (ASX):
•As at 09 October 2020: $117/MWh
•As at 30 September 2020: $118/MWh
•As at 31 August 2020: $119/MWh
»As at 8 October 2020, South Island controlled
storage was 96% of mean (30 September 2020:
94%) and North Island controlled storage was
71% of mean (30 September 2020: 69%)
•As at8 October 2020, total Clutha scheme
storage (including uncontrolled storage)
was 95%of mean
•Inflows into Contact’s Clutha catchment
for September 2020 were 101% of mean
(August 2020: 75%
July 2020: 122%,
June 2020: 73%,
May 2020: 64%)
For the month of September 2020

0
50
100
150
CY20CY21CY22CY23
$/MWh
28/06/201931/08/202030/09/2020
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150
CY20CY21CY22CY23
$/MWh
28/06/201931/08/202030/09/2020
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3500
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4500
OctNovDecJanFebMarAprMayJunJulAugSep
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
Sep-20Sep-19Aug-20
0%
20%
40%
60%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Sep-20Sep-19Aug-20
0
50
100
150
200
250
300
$/MWh
FY20 BENFY21 BENFY20 OTAFY21 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

3%
1%
4%
2%
(3%)
1%
(0%)
8%
(0%)
8%
(2%)
(4%)
(4%)
3%
3%
(1%)
(2%)
(0%)
-
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 September 2019
»New Zealand electricity demand was up 0.1% on September 2019 (up 1.4% on
September 2018):
•Cumulative 12 months demand for Oct 2019 to Sept 2020 of 41,195 GWh is
down 0.6% 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
September 2020 were
11.0º, 1.2º higherthan
September 2019: 10.5º

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120
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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
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80
90
100
-
100
200
300
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500
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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 Three monthsended Three months ended
September 20September 19August 20September 20September 19
Customer
Mass market electricity salesGWh314 323 351 1,065 1,060
Retail gas salesGWh84 76 99 283 294
Mass market electricity and gas salesGWh398 398 450 1,347 1,354
Average electricity sales price$/MWh244.66 241.10 241.31 241.39 238.75
Electricity direct pass thru costs$/MWh(108.47)(116.41)(107.09)(105.85)(113.84)
Cost to serve$/MWh(15.12)(18.07)(16.47)(15.76)(15.44)
Customer netback$/MWh101.48 91.74 96.91 100.13 91.48
Energy cost$/MWh(83.99)(77.64)(93.37)(94.09)(85.37)
Actual electricity line losses%9%7%7%7%7%
Retail gas salesPJ0.3 0.3 0.4 1.0 1.1
Electricity ICPs#410,500 411,000 413,500 412,833 410,833
Gas ICPs#64,500 66,000 64,500 64,500 66,167
Broadband connections#32,000 17,000 30,000 30,000 15,333
Wholesale
Electricity sales to Customer businessGWh345 348 379 1,146 1,139
Electricity sales to Commercial and IndustrialGWh160 199 153 462 603
Electricity CFD salesGWh220 165 251 695 548
Contracted electricity salesGWh725 712 783 2,302 2,290
Steam salesGWh76 66 77 181 151
Total electricity and steam net revenue$/MWh83.78 74.60 90.37 92.54 84.27
C&I netback (at the ICP)$/MWh84.05 79.25 92.34 89.50 90.67
C&I line losses%4%5%3%5%4%
Thermal generationGWh179 265 251 707 669
Geothermal generationGWh266 283 261 798 854
Hydro generationGWh356 175 357 1,030 821
Spot electricity salesGWh801 723 869 2,536 2,344
Electricity sales -DirectGWh9 9 8 20 21
Acquired generationGWh21 40 19 49 140
Electricity generated (or acquired)GWh831 773 897 2,605 2,505
Unit generation cost (including acquired generation)$/MWh(37.59)(49.07)(39.81)(39.20)(42.58)
Spot electricity purchasesGWh(495)(537)(524)(1,588)(1,721)
CFD sale settlementsGWh(220)(165)(251)(695)(548)
Spot exposed purchases / CFD settlementGWh(715)(703)(775)(2,282)(2,269)
Spot revenue and settlement on acquired generation (GWAP)$/MWh128.39 120.30 110.66 127.87 116.34
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(137.20)(126.48)(117.48)(136.34)(122.21)
LWAP/GWAP%107%105%106%107%105%
Gas used in internal generationPJ1.7 2.3 2.2 6.1 5.8
Gas storage net movement (extraction) / injectionPJ(0.2)(0.5)(0.2)(0.7)(0.1)

Contact Energy / Monthly Operating Report
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Investors
Matthew Forbes –GM Corporate Finance
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@ContactEnergy
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