October 2020 Operating Report

Monthly Operating Report
October 2020
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 346 GWh(October
2019: 379 GWh)
•Mass market electricity and gas netback of $99.15/MWh
(October 2019: $87.32MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 638 GWh(October 2019:
644GWh)
•Electricity and steam net revenueof $86.08/MWh(October
2019: $73.02/MWh)
•Electricity generated (or acquired) of 716 GWh(October 2019:
703 GWh)
•The unit generation cost, which includes acquired generation
was $36.99/MWh(October 2019: $38.05/MWh)
•Own generation cost in the month of $30.95/MWh
(October 2019: $34.28/MWh)
»Otahuhu futures settlement wholesale price for
the 4
th
quarter of 2020 (ASX):
•As at 04 November 2020: $110/MWh
•As at 31 October 2020: $114/MWh
•As at 30 September 2020: $118/MWh
»As at 5 November 2020, South Island controlled
storage was 108% of mean (29 October 2020:
99%) and North Island controlled storage was
94% of mean (29 October 2020: 88%)
•As at5 November 2020, total Clutha
scheme storage (including uncontrolled
storage) was 106%of mean
•Inflows into Contact’s Clutha catchment
for October 2020 were 79% of mean
(September 2020: 101%,
August 2020: 75%
July 2020: 122%,
June 2020: 73%)
For the month of October 2020

FY21 GuidanceChange to priorguidance
Other operating costs$200–210m*
↑$5m
Portfolio change: Simply Energy
other operating costs included after
acquisition (completion 1
September 2020)
Stay in business capital
expenditure
$55–60m
No change
Cashspend (‘Totex’)$255–270m
Depreciation and
amortisation
$215–225m
↓$35m
TCC now expected to be fully
depreciated by 31 December 2023
(previously 31 December 2022).
Net interest
(accounting)
$45 –50m
↓$10m
Interest on Tauhara capitalised
Cash interest(in
operating cash flow)
$40 –45m
Cashtaxation$75 –85m
No change
Target ordinary
dividend per share
Noguidance issuedNo change
Geothermal volumes3,050Wh
No change
GUIDANCE
47
* Excludes any additional abnormal impacts due to COVID-19

0
50
100
150
CY20CY21CY22CY23
$/MWh
28/06/201930/09/202030/10/2020
0
50
100
150
CY20CY21CY22CY23
$/MWh
28/06/201930/09/202030/10/2020
0
500
1000
1500
2000
2500
3000
3500
4000
4500
NovDecJanFebMarAprMayJunJulAugSepOct
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
4
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
Oct-20Oct-19Sep-20
0%
20%
40%
60%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Oct-20Oct-19Sep-20
Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
5
Benmore
Distribution of wholesale market price by trading periods
Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun

Market datanot available at time of publishing
Contact Energy / Monthly Operating Report
6

-
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
7
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
8
Measure
The month ended The month ended The month ended Four months endedFour months ended
October 20October 19September 20October 20October 19
Customer
Mass market electricity salesGWh274 296 314 1,339 1,356
Retail gas salesGWh72 83 84 355 378
Mass market electricity and gas salesGWh346 379 398 1,694 1,733
Average electricity sales price$/MWh248.47 241.12 244.66 242.84 239.27
Electricity direct pass thru costs$/MWh(111.73)(117.07)(108.47)(107.05)(114.54)
Cost to serve$/MWh(19.19)(19.04)(15.12)(16.46)(16.23)
Customer netback$/MWh99.15 87.32 101.48 99.93 90.57
Energy cost$/MWh(80.21)(70.15)(83.99)(91.25)(82.04)
Actual electricity line losses%9%5%9%7%7%
Retail gas salesPJ0.3 0.3 0.3 1.3 1.4
Electricity ICPs#407,000 410,500 410,500 411,375 410,750
Gas ICPs#64,500 66,000 64,500 64,500 66,125
Broadband connections#34,000 18,000 32,000 31,000 16,000
Wholesale
Electricity sales to Customer businessGWh300 311 345 1,446 1,450
Electricity sales to Commercial and IndustrialGWh168 204 160 629 807
Electricity CFD salesGWh171 128 220 865 677
Contracted electricity salesGWh638 644 725 2,940 2,934
Steam salesGWh78 61 76 259 213
Total electricity and steam net revenue$/MWh86.08 73.02 83.78 88.99 81.75
C&I netback (at the ICP)$/MWh75.24 84.12 84.05 86.68 89.03
C&I line losses%3%5%4%4%4%
Thermal generationGWh81 89 179 788 758
Geothermal generationGWh221 271 266 1,019 1,125
Hydro generationGWh357 306 356 1,388 1,127
Spot electricity salesGWh659 666 801 3,195 3,010
Electricity sales -DirectGWh10 10 9 30 31
Acquired generationGWh47 28 21 96 168
Electricity generated (or acquired)GWh716 703 831 3,321 3,208
Unit generation cost (including acquired generation)$/MWh(36.99)(38.05)(37.59)(38.72)(41.59)
Spot electricity purchasesGWh(457)(506)(495)(2,045)(2,226)
CFD sale settlementsGWh(171)(128)(220)(865)(677)
Spot exposed purchases / CFD settlementGWh(628)(634)(715)(2,910)(2,903)
Spot revenue and settlement on acquired generation (GWAP)$/MWh111.42 124.22 128.39 124.33 118.06
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(119.49)(129.81)(137.20)(132.71)(123.87)
LWAP/GWAP%107%105%107%107%105%
Gas used in internal generationPJ0.9 1.0 1.7 7.0 6.9
Gas storage net movement (extraction) / injectionPJ(0.3)0.0 (0.2)(1.0)(0.1)

Contact Energy / Monthly Operating Report
9
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