May 2021 Operating Report

Monthly Operating Report
May 2021
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 372GWh (May 2020:
383 GWh)
•Mass market electricity and gas netback of $103.66/MWh (May
2020 : $101.63/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 846GWh (May 2020 : 666
GWh)
•Electricity and steam net revenueof $122.68/MWh (May 2020:
$86.12/MWh)
•Electricity generated (or acquired) of 893 GWh (May 2020: 724
GWh)
•The unit generation cost, which includes acquired generation
was $58.74/MWh (May 2020 : $23.19/MWh)
•Own generation cost in the month of $53.41/MWh (May
2020 : $21.85/MWh)
»Otahuhu futures settlement wholesale price for
the 3
rd
quarter of 2021 (ASX):
•As at03 June 2021: $283/MWh
•As at31 May 2021: $304/MWh
•As at30 April 2021 : $265/MWh
»As at31 May 2021, South Island controlled
storage was 72% of mean and North Island
controlled storage was 41% of mean
•As at31 May 2021, total Clutha scheme
storage (including uncontrolled storage)
was 78% of mean
•Inflows into Contact’s Clutha catchment
for May 2021 were 96% of mean
(April 2021: 116%
March 2021: 95%
February 2021: 65%)
For the month of May 2021

0
100
200
300
CY21CY22CY23CY24
$/MWh
30/06/202030/04/202131/05/2021
0
500
1000
1500
2000
2500
3000
3500
4000
4500
JunJulAugSepOctNovDecJanFebMarAprMay
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
New Zealand controlled hydro storage against mean
ASX futures settlement
Contact Energy / Monthly Operating Report
3
12 MONTHS
Otahuhu
Benmore
0
100
200
300
CY21CY22CY23CY24
$/MWh
30/06/202030/04/202131/05/2021

0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
May-21May-20Apr-21
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
May-21May-20Apr-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

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
Information for May not yet available.

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)
-
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)
-
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

Contact Energy / Monthly Operating Report
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Measure
The month ended The month ended The month ended
Eleven months
ended
Eleven months
ended
May 21May 20April 21May 21May 20
Customer
Mass market electricity salesGWh307 315 255 3,039 3,165
Retail gas salesGWh65 69 50 699 749
Mass market electricity and gas salesGWh372 383 305 3,739 3,914
Average electricity sales price$/MWh246.34 243.85 251.52 248.75 245.33
Electricity direct pass thru costs$/MWh(109.73)(109.00)(112.38)(112.11)(118.72)
Cost to serve$/MWh(18.91)(17.70)(21.64)(19.39)(18.92)
Customer netback$/MWh103.66 101.63 104.91 100.81 92.21
Energy cost$/MWh(92.92)(92.24)(81.11)(86.48)(80.12)
Actual electricity line losses%7%8%4%7%6%
Retail gas salesPJ0.2 0.2 0.2 2.5 2.7
Electricity ICPs#405,500 407,000 404,500 407,000 409,500
Gas ICPs#65,000 65,000 65,000 64,500 65,500
Broadband connections#48,000 24,000 47,000 38,000 19,500
Wholesale
Electricity sales to Customer businessGWh331 341 265 3,267 3,362
Electricity sales to Commercial and IndustrialGWh133 155 125 1,720 2,028
Electricity CFD salesGWh381 170 265 2,365 1,778
Contracted electricity salesGWh846 666 655 7,353 7,168
Steam salesGWh36 27 46 625 524
Total electricity and steam net revenue$/MWh122.68 86.12 107.46 90.34 79.06
C&I netback (at the ICP)$/MWh97.04 88.77 119.92 84.72 83.67
C&I line losses%5%5%9%5%5%
Thermal generationGWh220 40 165 1,408 1,093
Geothermal generationGWh276 301 255 2,845 3,070
Hydro generationGWh314 361 242 3,346 3,466
Spot electricity salesGWh809 702 662 7,599 7,629
Electricity sales -DirectGWh4 3 5 80 78
Acquired generationGWh80 19 79 481 274
Electricity generated (or acquired)GWh893 724 745 8,160 7,982
Unit generation cost (including acquired generation)$/MWh(58.74)(23.19)(56.67)(41.89)(33.36)
Spot electricity purchasesGWh(461)(493)(386)(4,907)(5,312)
CFD sale settlementsGWh(381)(170)(265)(2,365)(1,778)
Spot exposed purchases / CFD settlementGWh(842)(663)(650)(7,272)(7,090)
Spot revenue and settlement on acquired generation (GWAP)$/MWh286.35 125.49 265.01 170.15 93.61
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(294.07)(130.33)(280.16)(179.49)(99.62)
LWAP/GWAP%103%104%106%105%106%
Gas used in internal generationPJ1.9 0.5 1.5 13.6 11.1
Gas storage net movement (extraction) / injectionPJ(0.4)0.4 0.3 (0.2)2.4
Contact
Total customer connections#527,000 498,000 526,000 516,500 497,000

Contact Energy / Monthly Operating Report
8
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contact.co.nz/aboutus/investor-centre
+64 21 072 8578
Investors
Matthew Forbes –GM Corporate Finance
contact.co.nz
@ContactEnergy
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