November 2020 Operating Report

Monthly Operating Report
November 2020
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 299 GWh (November
2019: 313 GWh)
•Mass market electricity and gas netback of $96.58/MWh
(November 2019: $90.48MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 616 GWh (November 2019:
596GWh)
•Electricity and steam net revenueof $73.59/MWh (November
2019: $68.50/MWh)
•Electricity generated (or acquired) of 676 GWh (November
2019: 718 GWh)
•The unit generation cost, which includes acquired generation
was $36.61/MWh (November 2019: $23.90/MWh)
•Own generation cost in the month of $29.47/MWh
(November 2019: $20.51/MWh)
»Otahuhu futures settlement wholesale price for
the 1
st
quarter of 2021 (ASX):
•As at 9 December 2020: $127/MWh
•As at 30 November 2020: $120/MWh
•As at 31 October 2020: $117/MWh
»As at 9 December 2020, South Island controlled
storage was 92% of mean (30November2020:
94%) and North Island controlled storage was
119% of mean (30November 2020: 122%)
•As at9 December 2020, total Clutha
scheme storage (including uncontrolled
storage) was 72% of mean
•Inflows into Contact’s Clutha catchment
for November 2020 were 38% of mean
(October 2020: 79%,
September 2020: 101%,
August 2020: 75%,
July 2020: 122%)
For the month of November 2020

New Zealand controlled hydro storage against mean
ASX futures settlement
Contact Energy / Monthly Operating Report
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12 MONTHS
Otahuhu
Benmore
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4500
DecJanFebMarAprMayJunJulAugSepOctNov
GWh
South Island ActualNorth Island Actual
South Island MeanNational Mean
0
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CY20CY21CY22CY23
$/MWh
28/06/201930/10/202030/11/2020
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CY20CY21CY22CY23
$/MWh
28/06/201930/10/202030/11/2020

0%
20%
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60%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Nov-20Nov-19Oct-20
0%
20%
40%
60%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Nov-20Nov-19Oct-20
0
50
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$/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

Market datanot available at time of publishing
Contact Energy / Monthly Operating Report
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120
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100
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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
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100
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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)

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Measure
The month ended The month ended The month ended Five months endedFive months ended
November 20November 19October 20November 20November 19
Customer
Mass market electricity salesGWh
241 255 274 1,579 1,610
Retail gas salesGWh
58 58 72 413 436
Mass market electricity and gas salesGWh
299 313 346 1,993 2,046
Average electricity sales price$/MWh
252.55 249.66 248.47 244.32 240.91
Electricity direct pass thru costs$/MWh
(114.60)(122.56)(111.73)(108.20)(115.81)
Cost to serve$/MWh
(21.65)(22.77)(19.19)(17.24)(17.23)
Customer netback$/MWh
96.58 90.48 99.15 99.42 90.55
Energy cost$/MWh
(72.91)(67.50)(80.21)(88.50)(79.82)
Actual electricity line losses%
8%7%9%7%7%
Retail gas salesPJ
0.2 0.2 0.3 1.5 1.6
Electricity ICPs#
405,500 410,500 407,000 410,200 410,700
Gas ICPs#
64,500 65,500 64,500 64,500 66,000
Broadband connections#
36,000 19,000 34,000 32,000 16,600
Wholesale
Electricity sales to Customer businessGWh
260 274 300 1,706 1,724
Electricity sales to Commercial and IndustrialGWh
181 198 168 810 1,005
Electricity CFD salesGWh
175 124 171 1,040 801
Contracted electricity salesGWh
616 596 638 3,557 3,530
Steam salesGWh
67 65 78 326 278
Total electricity and steam net revenue$/MWh
73.59 68.50 76.69 86.28 79.45
C&I netback (at the ICP)$/MWh
72.78 70.74 75.24 83.59 85.46
C&I line losses%
5%5%3%4%4%
Thermal generationGWh
54 23 81 843 781
Geothermal generationGWh
220 248 221 1,240 1,373
Hydro generationGWh
330 413 357 1,718 1,541
Spot electricity salesGWh
605 684 659 3,800 3,694
Electricity sales -DirectGWh
9 9 10 39 40
Acquired generationGWh
63 24 47 159 192
Electricity generated (or acquired)GWh
676 718 716 3,998 3,926
Unit generation cost (including acquired generation)$/MWh
(36.61)(23.90)(36.99)(38.37)(38.35)
Spot electricity purchasesGWh
(433)(462)(457)(2,478)(2,689)
CFD sale settlementsGWh
(175)(124)(171)(1,040)(801)
Spot exposed purchases / CFD settlementGWh
(607)(586)(628)(3,518)(3,489)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
87.33 98.42 111.42 118.10 114.48
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(96.94)(105.58)(119.49)(126.53)(120.80)
LWAP/GWAP%
111%107%107%107%106%
Gas used in internal generationPJ
0.7 0.4 0.9 7.7 7.3
Gas storage net movement (extraction) / injectionPJ
(0.0)0.1 (0.3)(1.0)(0.0)

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