March 2021 Operating Report

Monthly Operating Report
March 2021
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 277 GWh (March
2020: 310 GWh)
•Mass market electricity and gas netback of $102.77/MWh
(March 2020 : $92.71/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 609GWh (March 2020 :
577GWh)
•Electricity and steam net revenueof $84.87/MWh (March
2020: $87.29/MWh)
•Electricity generated (or acquired) of 676 GWh (March 2020:
672 GWh)
•The unit generation cost, which includes acquired generation
was $44.51/MWh (March 2020 : $25.90/MWh)
•Own generation cost in the month of $35.29/MWh
(March 2020 : $24.78/MWh)
»Otahuhu futures settlement wholesale price for
the 3
rd
quarter of 2021 (ASX):
•As at08 April 2021: $263/MWh
•As at31 March 2021: $285/MWh
•As at26 February 2021 : $209/MWh
»As at07 April 2021, South Island controlled
storage was 58% of mean (31 March 2021:
60%) and North Island controlled storage was
57% of mean (31 March 2021: 59%)
•As at07 April 2021, total Clutha scheme
storage (including uncontrolled storage)
was 63% of mean
•Inflows into Contact’s Clutha catchment
for March 2021 were 81% of mean
(February 2021: 53%
January 2021: 75%
December 2020: 58%)
For the month of March 2021

0
500
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4500
AprMayJunJulAugSepOctNovDecJanFebMar
GWh
South Island ActualNorth Island Actual
South Island MeanNational Mean
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CY21CY22CY23CY24
$/MWh
30/06/202026/02/202131/03/2021
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CY21CY22CY23CY24
$/MWh
30/06/202026/02/202131/03/2021
New Zealand controlled hydro storage against mean
ASX futures settlement
Contact Energy / Monthly Operating Report
3
12 MONTHS
Otahuhu
Benmore

0
50
100
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300
$/MWh
FY20 BENFY21 BENFY20 OTAFY21 OTA
0%
20%
40%
60%
80%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Mar-21Mar-20Feb-21
0%
20%
40%
60%
80%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Mar-21Mar-20Feb-21
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 March 2020
»New Zealand electricity demand was up 2.1% on March 2020 (down 1.9% on
March 2019):
•Cumulative 12 months demand for Apr 2020 to Mar 2021 of 40,948 GWh is
down 1.9% 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 March
2021 were 16.3º, 0.9º
higher than March
2020: 15.4º
6%
9%
3%
1%
(1%)
5%
6%
14%
(2%)
4%
(9%)
(5%)
2%
5%
6%
10%
1%
1%
-
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
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400
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600
Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
$/MWh
GWh
Mass market electricity salesRetail gas salesNetback
-
10
20
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50
60
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80
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-
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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 Nine months endedNine months ended
March 21March 20February 21March 21March 20
Customer
Mass market electricity salesGWh235 257 208 2,478 2,601
Retail gas salesGWh42 53 38 584 630
Mass market electricity and gas salesGWh277 310 246 3,062 3,231
Average electricity sales price$/MWh254.26 250.32 256.03 248.76 244.70
Electricity direct pass thru costs$/MWh(118.46)(123.77)(118.38)(112.37)(119.54)
Cost to serve$/MWh(23.35)(20.45)(25.29)(19.22)(18.61)
Customer netback$/MWh102.77 92.71 100.03 100.06 90.77
Energy cost$/MWh(93.16)(87.67)(83.54)(86.23)(79.15)
Actual electricity line losses%7%5%6%7%6%
Retail gas salesPJ0.2 0.2 0.1 2.1 2.3
Electricity ICPs#403,500 408,000 402,500 407,000 410,000
Gas ICPs#64,500 65,000 64,500 64,500 65,500
Broadband connections#44,000 22,000 42,000 36,000 18,500
Wholesale
Electricity sales to Customer businessGWh253 270 221 2,670 2,768
Electricity sales to Commercial and IndustrialGWh160 164 152 1,461 1,734
Electricity CFD salesGWh197 143 156 1,720 1,452
Contracted electricity salesGWh609 577 530 5,851 5,954
Steam salesGWh55 33 46 543 478
Total electricity and steam net revenue$/MWh84.87 87.29 83.65 84.00 78.23
C&I netback (at the ICP)$/MWh86.54 90.51 80.29 81.03 83.40
C&I line losses%6%7%4%4%5%
Thermal generationGWh77 59 54 1,024 1,042
Geothermal generationGWh274 290 241 2,315 2,478
Hydro generationGWh242 317 237 2,790 2,850
Spot electricity salesGWh593 666 532 6,128 6,370
Electricity sales -DirectGWh7 4 8 71 71
Acquired generationGWh76 1 47 322 232
Electricity generated (or acquired)GWh676 672 586 6,522 6,673
Unit generation cost (including acquired generation)$/MWh(44.51)(25.90)(41.90)(37.89)(35.20)
Spot electricity purchasesGWh(406)(430)(366)(4,060)(4,431)
CFD sale settlementsGWh(197)(143)(156)(1,720)(1,452)
Spot exposed purchases / CFD settlementGWh(603)(573)(522)(5,780)(5,883)
Spot revenue and settlement on acquired generation (GWAP)$/MWh252.36 59.03 239.32 143.26 94.31
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(257.58)(66.15)(247.35)(151.47)(100.77)
LWAP/GWAP%102%112%103%106%107%
Gas used in internal generationPJ0.9 0.7 0.7 10.1 10.4
Gas storage net movement (extraction) / injectionPJ0.4 (0.1)0.2 (0.1)1.3
Contact
Total customer connections#521,000 497,000 519,000 514,500 497,000

Contact Energy / Monthly Operating Report
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+64 21 072 8578
Investors
Matthew Forbes –GM Corporate Finance
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@ContactEnergy
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