February 2021 Operating Report

Monthly Operating Report
February 2021
Putting our energy where it matters

Contact Energy / Monthly Operating Report
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»The Customer business recorded:
•Mass market electricity and gas sales of 246 GWh (February
2020: 275 GWh)
•Mass market electricity and gas netback of $100.03/MWh
(February 2020 : $93.15MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 530GWh (February 2020 :
629GWh)
•Electricity and steam net revenueof $83.65/MWh (February
2020 : $76.62/MWh)
•Electricity generated (or acquired) of 586 GWh (February
2020: 730 GWh)
•The unit generation cost, which includes acquired generation
was $41.90/MWh (February 2020 : $34.55/MWh)
•Own generation cost in the month of $35.25/MWh
(February 2020 : $31.08/MWh)
»Otahuhu futures settlement wholesale price for
the 2
nd
quarter of 2021 (ASX):
•As at15 March 2021: $223/MWh
•As at26 February 2021: $240/MWh
•As at29 January 2021 : $173/MWh
»As at15 March 2021, South Island controlled
storage was 69% of mean (28 February 2021:
68%) and North Island controlled storage was
74% of mean (28 February 2021: 85%)
•As at15 March 2021, total Clutha scheme
storage (including uncontrolled storage)
was 76% of mean
•Inflows into Contact’s Clutha catchment
for February 2021 were 53% of mean
(January 2021: 75%
December 2020: 58%,
November 2020: 83%)
For the month of February 2021

0
100
200
300
CY21CY22CY23CY24
$/MWh
30/06/202029/01/202126/02/2021
0
100
200
300
CY21CY22CY23CY24
$/MWh
30/06/202029/01/202126/02/2021
0
500
1000
1500
2000
2500
3000
3500
4000
4500
MarAprMayJunJulAugSepOctNovDecJanFeb
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
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12 MONTHS
Otahuhu
Benmore

0%
20%
40%
60%
80%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Feb-21Feb-20Jan-21
0%
20%
40%
60%
80%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Feb-21Feb-20Jan-21
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

-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
North IslandSouth Island (exc. NZAS)NZAS
Contact Energy / Monthly Operating Report
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Total national demand
Regional demand change (%) on February 2020
»New Zealand electricity demand was down 4.6% on February 2020 (up 2.7% on
February 2019), February 2020 was a leap year:
•Cumulative 12 months demand for Mar 2020 to Feb 2021 of 40,878 GWh is
down 2.2% 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
February 2021 were
17.3º, 0.9º lower than
February 2020: 18.2º
(0%)
(2%)
(3%)
(4%)
(6%)
(3%)
(5%)
5%
(5%)
1%
(12%)
(8%)
(7%)
(4%)
(2%)
(11%)
(4%)
(5%)

-
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
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600
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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 Eight months endedEight months ended
February 21February 20January 21February 21February 20
Customer
Mass market electricity salesGWh
208 239 222 2,243 2,344
Retail gas salesGWh
38 36 39 542 577
Mass market electricity and gas salesGWh
246 275 261 2,785 2,921
Average electricity sales price$/MWh
256.03 250.35 259.96 248.18 244.08
Electricity direct pass thru costs$/MWh
(118.38)(125.42)(121.12)(111.73)(119.08)
Cost to serve$/MWh
(25.29)(22.90)(22.20)(18.81)(18.42)
Customer netback$/MWh
100.03 93.15 103.59 99.79 90.57
Energy cost$/MWh
(83.54)(84.66)(80.57)(85.54)(78.25)
Actual electricity line losses%
6%6%7%7%6%
Retail gas salesPJ
0.1 0.1 0.1 2.0 2.1
Electricity ICPs#
402,500 409,000 403,500 408,000410,000
Gas ICPs#
64,500 65,500 64,000 64,500 66,000
Broadband connections#
42,000 22,000 40,000 35,000 18,500
Wholesale
Electricity sales to Customer businessGWh
221 255 237 2,418 2,498
Electricity sales to Commercial and IndustrialGWh
152 180 167 1,301 1,570
Electricity CFD salesGWh
156 193 169 1,523 1,308
Contracted electricity salesGWh
530 629 574 5,242 5,376
Steam salesGWh
46 43 52 488 446
Total electricity and steam net revenue$/MWh
83.65 76.62 83.37 83.90 77.29
C&I netback (at the ICP)$/MWh
80.29 83.46 82.51 80.36 82.65
C&I line losses%
4%5%4%4%5%
Thermal generationGWh
54 114 22 946 983
Geothermal generationGWh
241 257 276 2,040 2,188
Hydro generationGWh
237 338 328 2,548 2,533
Spot electricity salesGWh
532 709 626 5,535 5,704
Electricity sales -DirectGWh
8 7 9 65 67
Acquired generationGWh
47 14 10 247 231
Electricity generated (or acquired)GWh
586 730 645 5,846 6,001
Unit generation cost (including acquired generation)$/MWh
(41.90)(34.55)(28.78)(37.13)(36.24)
Spot electricity purchasesGWh
(366)(428)(396)(3,654)(4,001)
CFD sale settlementsGWh
(156)(193)(169)(1,523)(1,308)
Spot exposed purchases / CFD settlementGWh
(522)(621)(565)(5,177)(5,309)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
239.32 60.05 128.93 130.63 98.27
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(247.35)(67.17)(140.58)(139.12)(104.51)
LWAP/GWAP%
103%112%109%106%106%
Gas used in internal generationPJ
0.7 1.2 0.4 9.3 9.7
Gas storage net movement (extraction) / injectionPJ
0.2 0.1 0.4 (0.5)1.4
Contact
Total customer connections#
519,000 499,000 516,000 513,500 497,000

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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