December 2020 Operating Report

Monthly Operating Report
December 2020
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 286 GWh(December
2019: 303 GWh)
•Mass market electricity and gas netback of $98.67/MWh
(December 2019: $89.89MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 582GWh (December 2019:
639GWh)
•Electricity and steam net revenueof $70.29/MWh(December
2019: $69.64/MWh)
•Electricity generated (or acquired) of 617 GWh(December
2019: 691 GWh)
•The unit generation cost, which includes acquired generation
was $33.29/MWh(December 2019: $30.13/MWh)
•Own generation cost in the month of $29.43/MWh
(December 2019: $27.58/MWh)
»Otahuhu futures settlement wholesale price for
the 2
nd
quarter of 2021 (ASX):
•As at 18 January 2021: $165/MWh
•As at 31 December 2020: $152/MWh
•As at 30 November 2020: $139/MWh
»As at 18 January 2021, South Island controlled
storage was 73% of mean (30 December 2020:
78%) and North Island controlled storage was
118% of mean (30 December 2020: 115%)
•As at18 January 2021, total Clutha
scheme storage (including uncontrolled
storage) was 70% of mean
•Inflows into Contact’s Clutha catchment
for December 2020 were 56% of mean
(November 2020: 80%,
October 2020: 140%,
September 2020: 157%,
August 2020: 131%,
July 2020: 149%)
For the month of December 2020

0
50
100
150
CY21CY22CY23CY24
$/MWh
30/06/202030/11/202031/12/2020
0
50
100
150
CY21CY22CY23CY24
$/MWh
30/06/202030/11/202031/12/2020
New Zealand controlled hydro storage against mean
ASX futures settlement
Contact Energy / Monthly Operating Report
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12 MONTHS
Otahuhu
Benmore
0
500
1000
1500
2000
2500
3000
3500
4000
4500
JanFebMarAprMayJunJulAugSepOctNovDec
GWh
South Island ActualNorth Island Actual
South Island MeanNational Mean

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

Contact Energy / Monthly Operating Report
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Total national demand
Regional demand change (%) on December 2019
»New Zealand electricity demand was down 0.9% on December 2019 (up 4% on
December 2018):
•Cumulative 12 months demand for Jan 2020 to Dec 2020 of 41,166 GWh is
down 1.4% 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
December 2020 were
15.8º, 0.2º lower than
December 2019: 16º
5%
2%
0%
2%
(5%)
3%
(7%)
(7%)
(1%)
8%
(1%)
(6%)
(7%)
3%
2%
(14%)
(1%)
2%
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
North IslandSouth Island (exc. NZAS)NZAS

-
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
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Measure
The month ended The month ended The month ended Six months endedSix months ended
December 20December 19November 20December 20December 19
Customer
Mass market electricity salesGWh
234 251 241 1,813 1,861
Retail gas salesGWh
52 52 58 465 488
Mass market electricity and gas salesGWh
286 303 299 2,278 2,349
Average electricity sales price$/MWh
256.13 249.17 252.55 245.84 242.02
Electricity direct pass thru costs$/MWh
(120.78)(125.05)(114.60)(109.82)(117.06)
Cost to serve$/MWh
(21.07)(19.10)(21.65)(17.72)(17.47)
Customer netback$/MWh
98.67 89.89 96.58 99.33 90.47
Energy cost$/MWh
(71.14)(63.56)(72.91)(86.32)(77.72)
Actual electricity line losses%
8%4%8%7%6%
Retail gas salesPJ
0.2 0.2 0.2 1.7 1.8
Electricity ICPs#
404,000 410,000 405,500 409,167 410,583
Gas ICPs#
64,000 65,500 64,500 64,417 65,917
Broadband connections#
38,000 20,000 36,000 33,000 17,167
Wholesale
Electricity sales to Customer businessGWh
253 262 260 1,959 1,986
Electricity sales to Commercial and IndustrialGWh
171 197 181 982 1,202
Electricity CFD salesGWh
157 179 175 1,198 980
Contracted electricity salesGWh
582 639 616 4,138 4,168
Steam salesGWh
64 66 67 390 343
Total electricity and steam net revenue$/MWh
70.29 69.64 73.59 84.00 77.92
C&I netback (at the ICP)$/MWh
62.92 69.82 72.78 80.01 82.92
C&I line losses%
4%5%5%4%5%
Thermal generationGWh
27 44 54 870 825
Geothermal generationGWh
285 276 220 1,524 1,649
Hydro generationGWh
266 345 330 1,984 1,886
Spot electricity salesGWh
578 665 605 4,378 4,359
Electricity sales -DirectGWh
9 10 9 48 50
Acquired generationGWh
30 16 63 189 208
Electricity generated (or acquired)GWh
617 691 676 4,615 4,617
Unit generation cost (including acquired generation)$/MWh
(33.29)(30.13)(36.61)(37.69)(37.12)
Spot electricity purchasesGWh
(415)(450)(433)(2,893)(3,138)
CFD sale settlementsGWh
(157)(179)(175)(1,198)(980)
Spot exposed purchases / CFD settlementGWh
(573)(629)(607)(4,091)(4,118)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
110.54 58.32 87.33 117.09 106.10
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(116.31)(63.00)(96.94)(125.10)(111.97)
LWAP/GWAP%
105%108%111%107%106%
Gas used in internal generationPJ
0.5 0.6 0.7 8.2 7.9
Gas storage net movement (extraction) / injectionPJ
(0.1)0.6 (0.0)(1.1)0.5

Contact Energy / Monthly Operating Report
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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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