December 2021 Operating Report

Monthly Operating Report
December 2021
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 288GWh (December
2020: 286GWh)
•Mass market netback of $106.73/MWh (December 2020:
$98.67/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 644GWh (December 2020:
582 GWh)
•Electricity and steam net revenueof $83.30/MWh (December
2020: $70.29/MWh)
•Electricity generated (or acquired) of 684 GWh (December
2020: 617 GWh)
•The unit generation cost, which includes acquired generation
was $20.03/MWh (December 2020: $33.29/MWh)
•Own generation cost in the month of $18.24/MWh
(December 2020 : $29.43MWh)
»Otahuhu futures settlement wholesale price for
the 2
nd
quarter of 2022 (ASX):
•As at 11 Jan 2022: $180/MWh
•As at 31 Dec 2021: $160/MWh
•As at 30 Nov 2021: $168/MWh
»As at 11 Jan 2022, South Island controlled
storage was 115% of mean and North Island
controlled storage was 131% of mean
•As at11 Jan 2022, total Clutha scheme
storage (including uncontrolled storage)
was 87% of mean
•Inflows into Contact’s Clutha catchment
for December 2021 were 94% of mean
(November 2021: 87%
October 2021: 98%
September 2021: 154%)
»As at1 December 2021, Contact’s contracted
gas volume (including contracted swaps) for the
next 12 months is 15.24PJ*
For the month of December 2021
* As notified by suppliers, actual gas received is dependent on field delivery

0
50
100
150
CY22CY23CY24CY25
$/MWh
30/06/202130/11/202131/12/2021
0
100
200
CY22CY23CY24CY25
$/MWh
30/06/202130/11/202131/12/2021
0
500
1000
1500
2000
2500
3000
3500
4000
4500
JanFebMarAprMayJunJulAugSepOctNovDec
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
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12 MONTHS
Otahuhu
Benmore

0
50
100
150
200
250
300
$/MWh
FY21 BENFY22 BENFY21 OTAFY22 OTA
0%
20%
40%
60%
80%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Dec-21Dec-20Nov-21
0%
20%
40%
60%
80%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Dec-21Dec-20Nov-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

5%
7%
1%
(1%)
(2%)
2%
(13%)
(32%)
(1%)
(2%)
(0%)
(9%)
5%
1%
4%
8%
(3%)
(8%)
-
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 December 2020
»New Zealand electricity demand was down 2.1% on December 2020 (down 2.9%
on December 2019):
•Cumulative 12 months demand for January 2021 to December 2021 of
41,289 GWh is up 0.3% to the prior comparative period.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY20, 21 and 22 respectively
Regional demand is excluding NZAS
Nationwide
temperatures for
December 2021 were
17.4ºC, 1.6ºC higher
than December 2020:
15.8ºC

-
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
Wholesale
Contact Energy / Monthly Operating Report
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Customer
Generation mix, gross sales position and unit generation cost (FY21 and 22 respectively)
Retail sales volumes and netback (FY21 and 22 respectively)

Contact Energy / Monthly Operating Report
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Measure
The month ended The month ended The month ended Six months endingSix months ending
December 21December 20November 21December 21December 20
CustomerMass market electricity salesGWh244 234 245 1,800 1,813
Retail gas salesGWh44 52 54 444 465
Mass market electricity and gas salesGWh288 286 299 2,244 2,278
Average electricity sales price$/MWh257.30 256.13 257.14 248.80 245.84
Electricity direct pass thru costs$/MWh(121.31)(120.78)(114.58)(112.26)(109.82)
Cost to serve$/MWh(21.34)(21.07)(22.08)(17.62)(17.72)
Customer netback$/MWh106.73 98.67 106.89 103.76 99.33
Energy cost$/MWh(86.34)(71.14)(86.19)(96.61)(86.32)
Actual electricity line losses%6%8%6%7%7%
Retail gas salesPJ0.2 0.2 0.2 1.6 1.7
Electricity ICPs#422,000 404,000 419,500 415,500 409,000
Gas ICPs#68,000 64,000 68,000 67,000 64,500
Broadband connections#62,000 38,000 60,000 57,500 33,000
WholesaleElectricity sales to Customer businessGWh261 253 262 1,928 1,959
Electricity sales to Commercial and IndustrialGWh126 171 126 718 982
Electricity CFD salesGWh257 157 268 1,654 1,198
Contracted electricity salesGWh644 582 655 4,300 4,138
Steam salesGWh53 64 65 361 390
Total electricity and steam net revenue$/MWh83.30 70.29 81.73 100.67 84.00
C&I netback (at the ICP)$/MWh68.49 59.87 72.16 85.43 79.48
C&I line losses%13%4%5%4%4%
Thermal generationGWh22 27 15 360 870
Geothermal generationGWh259 285 277 1,659 1,524
Hydro generationGWh383 266 374 2,391 1,984
Spot electricity salesGWh665 578 666 4,411 4,378
Electricity sales -DirectGWh9 9 9 47 48
Acquired generationGWh11 30 27 162 189
Electricity generated (or acquired)GWh684 617 702 4,620 4,615
Unit generation cost (including acquired generation)$/MWh(20.03)(33.29)(28.32)(32.15)(37.69)
Spot electricity purchasesGWh(379)(415)(379)(2,599)(2,893)
CFD sale settlementsGWh(257)(157)(268)(1,654)(1,198)
Spot exposed purchases / CFD settlementGWh(636)(573)(647)(4,253)(4,091)
Spot revenue and settlement on acquired generation (GWAP)$/MWh53.66 110.54 80.07 103.64 117.09
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(60.26)(116.31)(87.02)(112.59)(125.10)
LWAP/GWAP%112%105%109%109%107%
Gas used in internal generationPJ0.4 0.5 0.4 4.3 8.2
Gas storage net movement (extraction) / injectionPJ0.4 (0.1)0.5 2.0 (1.1)
ContactTotal customer connections#559,000 514,000 555,000 548,000 512,000

Contact Energy / Monthly Operating Report
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Material themeMeasureUnitQ2 FY22Q2 FY21
Climate ChangeEmissions from generation assets
1
kt CO
2
-e118167
Greenhouse Gas (GHG) intensity of generation
2
kt CO
2
-e / GWh0.0580.091
WaterFreshwater take
3
Million cubic metres0.760.48
Non-consumptive water usage
4
Million cubic metres4,8014,703
Geothermal fluid discharge to awa (rivers)Million cubic metres3.584.77
BiodiversityNative rākau(trees) planted by Contact
5
#18,4345,679
Pests caught
6
#1,8931,164
Community wellbeingCommunity initiatives and organisations supported#23*
Access to energyCustomer accepted (after standard credit checking / after prepay)%93% / 96%92% / 94%
1
Scope 1 –Stationary combustion. In FY21 stationary combustion was 99.97% of Contact’s total Scope 1 emissions
2
Carbon equivalent from stationary combustion / electricity generated and sold via the spot wholesale market
3
Freshwater taken to support operations at geothermal and thermal and includes Council take in Q2 FY22
4
Water that flows through our Roxburgh power station and cooling water for our geothermal power stations
5
Does not include DrylandsCarbonactivities
6
Predominantly stoats, rats and possums
* Data has not historically been collected by quarter
Note: This information is updated quarterly (September, December, March, June)

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