FY21 Q2 Performance Report

MARKET RELEASE
Date: 26 January 2021

NZX: GNE / ASX: GNE
FY21 Q2 PERFORMANCE REPORT

Genesis Energy today released to the NZX/ASX its FY21 Q2 Performance Report for the three months
ended 31 December 2020. The FY21 Q2 Performance Report is available from the Genesis Energy
page at www.nzx.com or https://www.genesisenergy.co.nz/investors
.

“Genesis has committed to the most aggressive emissions reduction target by a New Zealand energy
company. We chose the 1.5⁰ target knowing it will be difficult but achievable with the right planning
and pathway.” said Marc England, Chief Executive.

CORPORATE

Genesis committed to a Science Based Target consistent with limiting global warming to 1.5⁰ C.
Genesis has committed to reducing emissions by at least 1.2 million tonnes by 2025
1
. The Future-gen
programme will displace baseload thermal generation and replace with lower cost renewable
alternatives by 2030.

RETAIL

Cost to serve continued to trend downwards, although some costs were delayed and are expected to
be incurred in FY21 H2 (increasing CTS by approximately $1). Customer churn increased on pcp
2
,
driven by higher nationwide home moving switches (up 10%
3
) and the ending of winbacks. Genesis’
LPG business continued to perform, with Q2 the strongest summer period ever. The continued
momentum was supported by residential customer growth in the main centres, and strong growth
from our new depot in Whangarei.

WHOLESALE

Waipipi development remains on schedule and is expected to be fully operational by early March.
Generation commenced in November and provided Genesis with 30 GWh of renewable energy in the
quarter. Above average inflows at the Tongariro scheme enabled Genesis to maintain hydro
generation levels, whist building storage in our lakes. The La Nina event is forecast to result in lower
South Island inflows in Q3 and Genesis may be called upon to provide additional thermal back-up to
the market.

KUPE

Strategic review of Kupe proceeding as planned. Conclusion expected by the middle of CY 2021. A
minor outage early in December meant that production was down on Q1. Global oil prices continued
to strengthen with Brent crude exceeding $50 USD/bbl for the first time since February 2020.

ENDS






1
Combined scope 1, 2, & 3 emissions compared to a FY20 base year.
2
Pcp refers to FY 20 Q2 unless otherwise stated.
3
EA Move Switching (Sep 20 to Nov 20) https://www.emi.ea.govt.nz/Retail/Reports

For media enquiries, please contact:
Allan Swann
Communications Manager
M: 027 211 4874
For investor relations enquiries, please contact:
Tim McSweeney
Investor Relations Manager
M: 027 200 5548



About Genesis Energy
Genesis Energy (NZX: GNE, ASX: GNE) is a diversified New Zealand energy company. Genesis sells
electricity, reticulated natural gas and LPG through its retail brands of Genesis and Energy Online and is
New Zealand’s largest energy retailer with approximately 500,000 customers. The Company generates
electricity from a diverse portfolio of thermal and renewable generation assets located in different parts
of the country. Genesis also has a 46% interest in the Kupe Joint Venture, which owns the Kupe Oil and Gas
Field offshore of Taranaki, New Zealand. Genesis had revenue of $NZ2.6 billion during the 12 months ended
30 June 2020. More information can be found at www.genesisenergy.co.nz

---

26 January 2021
FY21 Q2
Performance Report
GENESIS ENERGY LIMITED

FY21 Q2 Quarterly Performance Highlights
Retail
Kupe
Genesis Energy Limited FY21 Q2 Performance Report 2.
Corporate​
Genesis committed to a Science Based Target consistent with limiting global warming to 1.5⁰ C. Genesis has
committed to reducing emissions by at least 1.2 million tonnes by 2025
1
. The Future-gen programme will displace
baseload thermal generation and replace with lower cost renewable alternatives by 2030.
Retail
Cost to serve continued to trend downwards, although some costs were delayed and are expected to be incurred
in FY21 H2 (increasing CTS by approximately $1). Customer churn increased on pcp
2
, driven by higher nationwide
home moving switches (up 10%
3
) and the ending of winbacks. Genesis’ LPG business continued to perform, with
Q2 the strongest summer period ever. The continued momentum was supported by residential customer growth
in the main centres and strong from our new depot in Whangarei.
Wholesale
Waipipi development remains on schedule and is expected to be fully operational by early March. Generation
commenced in November and provided Genesis with 30 GWh of renewable energy in the quarter. Above average
inflows at the Tongariro scheme enabled Genesis to maintain hydro generation levels, whist building storage in
our lakes. The La Nina event is forecast to result in lower South Island inflows in Q3 and Genesis may be called
upon to provide additional thermal back-up to the market.
Kupe
Strategic review of Kupe proceeding as planned. Conclusion expected by the middle of CY 2021. A minor outage
early in December meant that production was down on Q1. Global oil prices continued to strengthen with Brent
crude exceeding $50 USD/bblfor the first time since February 2020.
Genesis has
committed to the
most aggressive
emissions reduction
target by a New
Zealand energy
company. We chose
the 1.5⁰ target
knowing it will be
difficult but
achievable with the
right planning and
pathway.
Marc England
Chief Executive
1
Combined scope 1, 2, & 3 emissions compared to a FY20 base year.
2
Pcp refers to FY 20 Q2 unless otherwise stated.
3
EA Move Switching (Sep 20 to Nov 20) https://www.emi.ea.govt.nz/Retail/Reports

Retail Segment Performance vs FY21 Q1
Highs
Lows
Total Customers
478k
Bottle LPG
Sales vs. pcp
4,200t
6.4%
Customers > 1
Fuel
125k
Cost to Serve
$134/ICP
0.7%
Genesis Energy Limited FY21 Q2 Performance Report 3.
0.9%
1.5%
Net Customer
Churn vs. pcp
16.9%
1.0ppt
Residential
LPG Sale
Price vs. pcp
$2,410/t
8.2%
Brand Net
Promoter Score
17.6%
3.9ppt
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
111,000
112,000
113,000
114,000
115,000
116,000
117,000
118,000
119,000
120,000
121,000
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
RESIDENTIAL DUAL FUEL CUSTOMER NUMBERS & CHURN (3-MONTH ROLLING AVERAGE %)
Customers > 1 ProductDual Fuel Churn (RHS)

Ave. Generation
Price (GWAP)
$116.10 ($/MWh)
Power Purchase
Agreements
30 GWh
Wholesale Segment Performance vs Prior Comparable Period
Highs
Lows
13%
Genesis Energy Limited FY21 Q2 Performance Report 4.
Generation Emissions
625 ktCO2
Increased thermal backup required to support
low lake levels and reduced gas supply.
16%
Average Coal
Burn Cost
$6.0/GJ
11%
Total Generation
1,682 G Wh
7.3%
7.2%
Average Gas
Burn Cost
$9.0/GJ
Hydro Generation
674 GWh
2.7%
0
50
100
150
200
250
300
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
HUNTLY RANKINE UTILISATION (GWh)
Genesis Customers/Portfolio Backup Swaption Partners Backup Other Retailers/Spot Customers

Kupe Segment Performance vs Prior Comparable Period
Highs
Lows
Genesis Energy Limited FY21 Q2 Performance Report 5.
Realised Oil Price
NZ$63.61
27%
Gas Production
2.6 PJ
Brent Crude exceeds
$50 USD/bbl
44%
Oil Production
83 kbbl
26%
Oil Production
Yield
31.2 bbl/TJ
14%

Glossary (Updated)
Genesis Energy Limited FY21 Q2 Performance Report 6.
Include PPA definitions
change name from CFDs to
financial.
RETAIL
Brand Net Promoter Score (%)Based on survey question "How likely would you be to recommend Genesis Energy/Energy Online to your friends or family?"
Interaction Net Promoter Score (%)Based on survey question "Based on your recent Interaction With GE/EOL, how likely would you be to recommend GE/EOL to your Friends/Family?"
CustomersElectricity and gas customers are defined by single customer view, regardless of number of connections (ICP's)
Single Customer ViewRepresents unique customers which may have multiple ICP's
ICPInstallation Connection Point, a connection point that is both occupied and has not been disconnected (Active-Occupied)
LPG Customer ConnectionsDefined as number of customers
Gross Customer ChurnDefined as customers instigating a trader switch or home move
Net Customer ChurnDefined as Gross Churn post home move saves, retention and acquisition activity
Resi, SME, C&IResidential, small and medium enterprises and commercial & industrial customers
B2BBusiness to Business, including both SME and C&I
Volume Weighted Average Electricity Selling Price - $/MWhAverage selling price for customers including lines/transmission and distribution and after prompt payment discount
Volume Weighted Average Gas Selling Price - $/GJAverage selling price for customers including transmission and distribution and after prompt payment discount
Volume Weighted Average LPG Selling Price - $/tonneAverage selling price for customers including after prompt payment discount
Bottled LPG Sales (tonnes)Represents 45kg LPG bottle sales
SME & Other Bulk LPG sales (tonnes)Represents SME and other bulk and 3rd party distributors
Cost to Serve ($ per ICP)Retail costs associated with serving customers across all fuel types divided by the total numbers of ICPs at time of reporting
Netback ($/MWh, $/GJ, $/tonne)
Customer EBITDAF by fuel type plus respective fuel purchase cost divided by total fuel sales volumes, stated in native fuel units (excluding corporate allocation costs and
Technology & Digital cost centre)
GENERATION
Average Price Received for Generation - GWAP ($/MWh) Excludes settlements from electricity derivatives.
Coal (GWh)Coal generation is calculated by applying coal burn to monthly average heat rates
Coal Used In Internal Generation (PJ)Results have been revised to reflect changes in coal kilo tonnes to PJ conversion rate and volume methodology
Rankine's Fuelled by Coal (%)The proportion of coal used in the Rankine units
Equipment Availability Factor (EAF)The percentage of time a power station is available to generate electricity
Forced Outage Factor (FOF)The percentage of time a power station is unavailable to generate electricity due to unplanned failure or defect
POWER PURCHASE AGREEMENTS
Wind (GWh)Energy purchased through long term agreements with generator
Average Price Received for Generation - GWAP ($/MWh) Price received at production node. (E.g. Waipipi at WVY1101 node)
WHOLESALE
Average Retail Electricity Purchase Price - LWAP ($/MWh)Excludes settlements from electricity derivatives
Electricity CFD Purchases - Wholesale (GWh)Settlement volumes of generation hedge purchase contracts, including ASX, but excluding Financial Transmission Right (FTRs), Cap/Collar/Floor contracts and PPAs
Electricity CFD Sales - Wholesale (GWh)Settlement volumes of generation hedge sale contracts, including ASX but exlcuding Financial Transmission Right (FTRs), Cap/Collar/Floor contracts and PPAs
Swaption Sales - Wholesale (GWh)Electricity (swap/option) sales contract volume called, a subset of the Electricity CFD Sales - Wholesale (GWh)
Wholesale LPG Sales (tonnes)Represents wholesale, export sales and transfers to Huntly power station
Weighted Average Gas Burn Cost ($/GJ)Total cost of gas burnt divided by generation from gas fired generation, excluding emissions
Weighted Average Coal Burn Cost ($/GJ)Total cost of coal burnt divided by generation from coal fired generation, excluding emissions
Weighted Average Fuel Cost - Portfolio ($/MWh)Total cost of fuel burnt plus emissions on fuel burnt divided by total generation (thermal, hydro and wind)
Weighted Average Fuel Cost - Thermal ($/MWh)Total cost of fuel burnt plus emissions on fuel burnt divided by total generation from thermal plant
Coal Stockpile - Stored Energy (PJ)The coal stockpile closing balance in tonnes divided by an estimated nominal energy content of Huntly's coal (22 GJ/t)
CORPORATE
Total Recordable Injury Frequency RateRolling 12 month TRIFR per 200,000 hours worked for employees and contractors
Headcount Based on full time equivalents, including contractors
KUPE
Oil Price realised (NZD/bbl)Oil price received including hedge outcome for oil and foreign exchange
Oil Price realised (USD/bbl)The underlying benchmark crude oil price that is used to set the price for crude oil sales
Oil Hedge Levels (%)% hedged for remainder of FY as % of forecast sales

Retail Operating Metrics
Genesis Energy Limited FY21 Q2 Performance Report 7.
1
RETAIL SEGMENTQ2 FY21Q2 FY20
% ChangeVar.
Q1 FY21
% ChangeVar.
RETAIL
Brand Net Promoter Score - Genesis (%)17.6% 15.6% 12.8% 2ppt13.7% 28.5%3.9ppt
Interaction Net Promoter Score - Genesis (%)44.7% 38.0% 17.6% 6.7ppt44.3% 0.9%0.4ppt
Gross Customer Churn (3 month rolling average, %)26.8% 26.4% 1.5% 0.4ppt26.3% 1.9%0.5ppt
Net Customer Churn (3 month rolling average, %)16.9% 15.9% 6.3% 1ppt17.2% (1.7%)(0.3)ppt
Cost to Serve ($ per ICP)$134$139(3.6%)($5)$135(0.7%)($1)
Electricity Netback ($/MWh)$114.54$101.3913.0%$13.15$128.25(10.7%)($13.71)
Gas Netback ($/GJ)$10.5$9.87.1%$0.7$10.6(0.9%)($0.1)
LPG Netback ($/t)$1,012$9605.4%$52$1,070(5.4%)($58)
CUSTOMER NUMBERS
Customers > 1 Fuel124,996 119,227 4.8%5,769 123,131 1.5%1,865
Electricity Only Customers303,518 320,731 (5.4%)(17,213) 309,276 (1.9%)(5,758)
Gas Only Customers15,649 16,022 (2.3%)(373) 15,922 (1.7%)(273)
LPG Only Customers33,584 33,969 (1.1%)(385) 33,612 (0.1%)(28)
Total Customers477,747 489,949 (2.5%)(12,202) 481,941 (0.9%)(4,194)
Electricity ICPs Active-Occupied487,149 497,435 (2.1%)(10,286) 490,705 (0.7%)(3,556)
Gas ICPs Active-Occupied105,483 105,572 (0.1%)(89) 105,388 0.1%95
LPG Customer Connections76,864 71,349 7.7%5,515 75,173 2.2%1,691
Total ICPs669,496 674,356 (0.7%)(4,860) 671,266 (0.3%)(1,770)
VOLUMES AND PRICE
Volume Weighted Average Electricity Selling Price - Resi ($/MWh)$270.43$264.972.1%$5.46$260.373.9%$10.06
Volume Weighted Average Electricity Selling Price - SME ($/MWh)$211.99$223.29(5.1%)($11.30)$219.39(3.4%)($7.40)
Volume Weighted Average Electricity Selling Price - C&I ($/MWh)$119.53$116.033.0%$3.50$159.22(24.9%)($39.69)
Residential Electricity Sales (GWh)638 661 (3.5%)(23) 933 (31.6%)(295)
SME Electricity Sales (GWh)276 287 (3.8%)(11) 271 1.8%5
C&I Electricity Sales (GWh)597 507 17.8%90 572 4.4%25
Total Electricity Sales - Customer (GWh)1,511 1,455 3.8%56 1,775 (14.9%)(264)
Volume Weighted Average Gas Selling Price - Resi ($/GJ)$37.6$36.33.6%$1.3$28.631.5%$9.0
Volume Weighted Average Gas Selling Price - SME ($/GJ)$17.0$16.34.3%$0.7$15.410.4%$1.6
Volume Weighted Average Gas Selling Price - C&I ($/GJ)$12.2$11.19.9%$1.1$10.516.2%$1.7
Residential Gas Sales (PJ)0.6 0.6 0.0%- 1.1 (45.5%)(0.5)
SME Gas Sales (PJ)
0.4 0.4 0.0%- 0.5 (20.0%)(0.1)
C&I Gas Sales (PJ)0.7 0.8 (12.5%)(0.1) 1.2 (41.7%)(0.5)
Total Gas Sales (PJ)1.6 1.8 (11.1%)(0.2) 2.8 (42.9%)(1.2)
Volume Weighted Average LPG Selling Price - Resi ($/tonne)$2,410$2,3373.1%$73$2,3731.6%$37
Volume Weighted Average LPG Selling Price - SME/Bulk ($/tonne)$1,542$1,4218.5%$121$1,5330.6%$9
Bottled LPG Sales (tonnes)4,200 3,949 6.4%251 5,858 (28.3%)(1,658)
SME & Other Bulk LPG sales (tonnes)5,843 6,404 (8.8%)(561) 7,241 (19.3%)(1,398)
Total LPG Sales Volumes (tonnes)10,044 10,353 (3.0%)(309) 13,099 (23.3%)(3,055)

Wholesale Operating Metrics
Genesis Energy Limited FY21 Q2 Performance Report 8.
1
WHOLESALE SEGMENT
Q2 FY21Q2 FY20% ChangeVar.Q1 FY21% ChangeVar.
GENERATION
Gas (GWh)644 599 7.5% 45 752 (14.4%)(108)
Coal (GWh)359 304 18.1% 55 553 (35.1%)(194)
Total Thermal (GWh)1,003 903 11.1% 100 1,305 (23.1%)(302)
Hydro (GWh)674 693 (2.7%) (19) 781 (13.7%)(107)
Wind (GWh)5 7 (28.6%)(2) 6 (16.7%)(1)
Total Renewable (GWh)680 700 (2.9%) (20) 787 (13.6%)(107)
Total Generation (GWh)1,682 1,603 4.9% 79 2,091 (19.6%)(409)
Average Price Received for Generation - GWAP ($/MWh) $116.10$108.227.3%$7.88$136.96(15.2%)($20.86)
Generation Emissions (ktCO2)625 565 10.6% 60 956 (34.6%)(331)
Generation Carbon Intensity (tCO2/GWh)372 352 5.7% 20 457 (18.6%)(85)
Forced Outage Factor (FOF)0.8% 0.9% (11.1%) (0.1)ppt0.2% 300.0%0.6ppt
Equivalent Availability Factor (EAF)88.9% 86.7% 2.5% 2.2ppt96.5% (7.9%)(7.6)ppt
Rankine Output (GWh)397 324 22.5% 73 585 (32.1%)(188)
Rankines Fueled by Coal (%)90% 94% (4.3%) (4)ppt95% (5.3%)(5)ppt
POWER PURCHASE AGREEMENTS
Wind (GWh)30 - 0.0%30 - 0.0%30
Average Price Received for PPA - GWAP ($/MWh)$97.95$0.000.0%$97.95$0.000.0%$97.95
WHOLESALE
Electricity Purchases - Retail (GWh)1,590 1,537 3.4%53 1,873 (15.1%)(283)
Average Retail Electricity Purchase Price - LWAP ($/MWh) $115.82$104.1011.3%$11.72$140.21(17.4%)($24.39)
LWAP/GWAP Ratio (%)100% 96% 4.2% 4ppt102% (2.0%)(2)ppt
Gas Purchases (PJ)10.7 10.2 4.9%0.5 12.5 (14.4%)(1.8)
Coal Purchases (PJ)7.8 3.2 143.8% 4.6 4.2 85.7%3.6
Electricity CFD Purchases - Wholesale (GWh)627 458 36.9% 169 477 31.4%150
Electricity CFD Sales - Wholesale (GWh)816 482 69.3% 334 645 26.5%
171
Swaption Sales - Wholesale (GWh)1 20 (95.0%) (19) 30 (96.7%)(29)
Wholesale Gas Sales (PJ)4.0 3.8 5.3% 0.2 4.0 0.0%-
Wholesale Coal Sales (kilotonnes)- - -- - - -
Wholesale LPG Sales (tonnes)3,827 908 321.5% 2,919 4,168 (8.2%) (341)
Gas Used In Internal Generation (PJ)5.0 4.6 8.7% 0.45.7 (12.3%) (0.7)
Weighted Average Gas Burn Cost ($/GJ)$9.0$9.7(7.2%) ($0.7)$9.0- $0.0
Coal Used In Internal Generation (PJ) 4.053.4517.4% 0.6 6.32(35.9%) (2.3)
Weighted Average Coal Burn Cost ($/GJ)$6.0$7.1(15.5%) ($1.1)$6.1(1.6%) ($0.1)
Weighted Average Fuel Cost - Portfolio ($/MWh)$48.48$44.977.8% $3.51$49.25(1.6%) ($0.77)
Weighted Average Fuel Cost - Thermal ($/MWh)$81.33$79.831.9% $1.50$78.953.0% $2.38
Coal Stockpile - Closing Balance (kilotonnes)496 374 32.6% 122 328 51.2% 168
Coal Stockpile - Stored Energy (PJ)10.9 8.2 32.9% 2.7 7.2 51.4% 3.7
1
Q1 FY21 numbers have been corrected from a previous report.
1

Kupe and Other Operating Metrics
Genesis Energy Limited FY21 Q2 Performance Report 9.
KUPE SEGMENTQ2 FY21Q2 FY20
% ChangeVar.
Q1 FY21
% Change
Var.
KUPE
Gas Production (PJ)
2.6 1.8 44.4%0.8

3.0
(13.3%)(0.4)
Gas Sales (PJ)2.6

1.8 44.4%0.8
3.0
(13.3%)
(0.4)

Oil Production (kbbl)83 66
25.8%17 96 (13.5%)(13.0)
Oil Production Yield (bbl/TJ)31.2 36.1
(13.6%)(4.9) 31.6
(1.3%)(0.4)
Oil Sales (kbbl)81

72
12.5%9
77
5.2%4.0

Realised Oil Price (NZD/bbl)
$63.61
$86.81
(26.7%)($23.20)$73.74(13.7%)(10.1)
Average Brent Crude Oil (USD/bbl)
$44.22$63.25(30.1%)($19.03)$43.00
2.8%1.2


LPG Production (kt)11.4 8.0
42.5%
3.4

13.0
(12.3%)(1.6)
LPG Production Yield (t/TJ)4.3 4.4
(2.3%)(0.1) 4.3 0.0%-

LPG Sales (kt)11.0

8.0
37.5%
3.0
13.4
(17.9%)(2.4)

OTHER
Q2 FY21
Q2 FY20
% ChangeVar.
Q1 FY21
% ChangeVar.
CORPORATE
Headcount (FTE)
1,099 1,080
1.8%19 1,077
2.0%22

Total Recordable Injury Frequency Rate2.02 1.23
64.2%0.79 2.12
(4.7%)(0.10)

Appendix: Retail Segment
Genesis Energy Limited FY21 Q2 Performance Report 10.
-
100
200
300
400
500
600
700
800
$0
$50
$100
$150
$200
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2
ICP Count
Thousands
Cost to Serve ($/ICP)
ICP NUMBER & COST TO SERVE ($/ICP)
Electricity ICPs Active-OccupiedGas ICPs Active-Occupied
LPG Customer ConnectionsCost to Serve ($ per ICP)
6.0
6.5
7.0
7.5
8.0
8.5
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2
GAS SALES VOLUME (PJ)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12-month Sales Volume (RHS)
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
-
200
400
600
800
1,000
1,200
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2
ELECTRICITY SALES VOLUMES (GWh)
Quarterly Resi Sales VolumesQuarterly SME Sales Volumes
Quarterly C&I Sales VolumesRolling 12-month Sales Volume (RHS)
-
10,000
20,000
30,000
40,000
50,000
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2
LPG SALES VOLUMES (Tonnes)
Quarterly Bottled LPG Sales Volumes
Quarterly Bulk & SME LPG Sales Volume
Rolling 12-month Sales Volume (RHS)

Appendix: Wholesale Segment
Genesis Energy Limited FY21 Q2 Performance Report 11.
0
20
40
60
80
100
120
140
JanFebMar Apr MayJunJulAugSepOctNovDec
WAIKAREMOANA STORAGE Vs LONG RUN AVERAGE (GWh)
Long Run Average Storage12-month Storage
0
1000
2000
3000
4000
5000
JanFebMar Apr MayJunJulAugSepOctNovDec
NEW ZEALAND DAILY STORAGE (ALL GENERATORS, GWh)
Long Run Average Storage12-month Storage
0
200
400
600
800
1000
JanFebMar Apr MayJunJulAugSepOctNovDec
TEKAPO STORAGE Vs LONG RUN AVERAGE (GWh)
Long Run Average Storage12-month Storage
0
1
2
3
4
5
6
JanFebMar Apr MayJunJulAugSepOctNovDec
GWh/day
TONGARIRO GENERATION vs 20y AVERAGE
7 day rolling Average20 year Average

Appendix: Wholesale Segment
Genesis Energy Limited FY21 Q2 Performance Report 12.
0
500
1,000
1,500
2,000
2,500
Q1 2019Q2 2019Q3 2019Q4 2019Q1 2020Q2 2020Q3 2020Q4 2020Q1 2021Q2 2021
GENERATION BY POWER STATION (GWh)
South Island Hydro
North Island
Hydro
Huntly Unit 6
Huntly Units 1 to 4
Coal
Huntly Units 1 to 4
Gas
Huntly Unit 5
0%
20%
40%
60%
80%
100%
$0
$20
$40
$60
$80
$100
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2
PORTFOLIO AND THERMAL FUEL COSTS
Weighted Average Fuel Cost - Thermal ($/MWh)
Weighted Average Fuel Cost - Portfolio ($/MWh)
Renewable Contribution to Total Generation (RHS, %)
$50
$70
$90
$110
$130
$150
$170
$190
$210
201820192020
ASX FUTURES SPOT PRICING ($/MWh)
1-Year Contract2-Year Contract3-Year Contract
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
75%
80%
85%
90%
95%
100%
Oct-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Apr-20
May-20
Jun-20
Jul-20
Aug-20
Sep-20
Oct-20
Nov-20
Dec-20
Forced Outage Factor (FOF) %
Equipment Availability Factor (EAF) %
PLANT PERFORMANCE
Monthly EAFMonthly FOF

Appendix: Kupe Segment
OIL PRICE AND FOREX RISK MANAGEMENT
Genesis Energy Limited FY21 Q2 Performance Report 13.
FORWARD RISK MANAGEMENT
Oil Price Hedges (USD/bbl)% HedgedAverage Oil Price
1-12 months52%
$62.80
13-24 months28%$54.90
25-36 months0%$0.00
USD/NZD HedgesRate
1-12 months71%0.664
13-24 months50%0.642
25-36 months0%0.000
$0
$10
$20
$30
$40
$50
$60
$70
$80
JanFebMar Apr MayJunJulAugSepOctNovDec
BRENT CRUDE OIL SPOT PRICE (USD/bbl)
12 mths to Dec 1912 mths to Dec 20
-
2.0
4.0
6.0
8.0
10.0
12.0
14.0
-
0.5
1.0
1.5
2.0
2.5
3.0
3.5
Q1 FY13
Q2Q3Q4
Q1 FY14
Q2Q3Q4
Q1 FY15
Q2Q3Q4
Q1 FY16
Q2Q3Q4
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2
PJ
PJ
KUPE GAS SALE VOLUMES (GENESIS SHARE, PJ)
Quarterly Sales VolumeRolling 12 Months Sales Volume (RHS)
-
100.
200.
300.
400.
500.
600.
-
20.
40.
60.
80.
100.
120.
140.
160.
Q1 FY17
Q2Q3Q4
Q1 FY18
Q2Q3Q4
Q1 FY19
Q2Q3Q4
Q1 FY20
Q2Q3Q4
Q1 FY21
Q2
KUPE OIL PRODUCTION VOLUMES (GENESIS SHARE, Kbbl)
Quarterly Production VolumeRolling 12 Months Production Volume (RHS)