March 2022 Operating Report

Monthly Operating Report
March 2022
Putting our energy where it matters

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 298GWh (March
2021: 277GWh)
•Mass market netback of $107.97/MWh (March 2021:
$102.77/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 627GWh (March 2021:
609GWh)
•Electricity and steam net revenueof $95.52/MWh (March
2021: $84.87/MWh)
•Electricity generated (or acquired) of 691GWh (March 2021:
676GWh)
•The unit generation cost, which includes acquired generation
was $53.93/MWh (March 2021: $44.51/MWh)
•Own generation cost in the month of $48.33/MWh
(March 2021: $35.29MWh)
»Otahuhu futures settlement wholesale price for
the 3
rd
quarter of 2022 (ASX):
•As at 08 Apr 2022: $232/MWh
•As at 31 Mar 2022: $234/MWh
•As at 28 Feb 2022: $183/MWh
»As at 11 Apr 2022, South Island controlled
storage was 75% of mean and North Island
controlled storage was 149% of mean
•As at 11 Apr 2022, total Clutha scheme
storage (including uncontrolled storage)
was 56% of mean
•Inflows into Contact’s Clutha catchment
for March 2022 were 51% of mean
(February 2022: 156%
January 2022: 42%
December 2021: 98%)
»As at 1 April 2022, Contact’s contracted gas
volume (including contracted swaps) for the
next 12 months is 15.75PJ*
For the month of March 2022
* As notified by suppliers, actual gas received is dependent on field delivery

0
50
100
150
200
CY22CY23CY24CY25
$/MWh
30/06/202128/02/202231/03/2022
0
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200
300
CY22CY23CY24CY25
$/MWh
30/06/202128/02/202231/03/2022
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500
1000
1500
2000
2500
3000
3500
4000
4500
AprMayJunJulAugSepOctNovDecJanFebMar
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
50
100
150
200
250
300
$/MWh
FY21 BENFY22 BENFY21 OTAFY22 OTA
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Mar-22Mar-21Feb-22
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Mar-22Mar-21Feb-22
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

(3%)
19%
(1%)
(2%)
(26%)
(3%)
(16%)
(27%)
(4%)
(5%)
(7%)
(3%)
(2%)
(6%)
0%
(24%)
(2%)
(12%)
-
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 March 2021
»New Zealand electricity demand was down 5.0% on March 2021 (down 3.0% on
March 2020):
•Cumulative 12 months demand for April 2021 to March 2022 of 41,107 GWh
is 0.4% higher than 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 March
2022 were 16.9ºC,
0.6ºC higher than
March 2021: 16.3ºC

-
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
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)
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 Nine months endingNine months ending
March 22March 21February 22March 22March 21
CustomerMass market electricity salesGWh251 235 226 2,511 2,478
Retail gas salesGWh47 42 36 569 584
Mass market electricity and gas salesGWh298 277 262 3,080 3,062
Average electricity sales price$/MWh259.01 254.26 263.85 252.52 248.76
Electricity direct pass thru costs$/MWh(126.01)(122.31)(123.60)(118.22)(115.82)
Cost to serve$/MWh(19.00)(19.53)(22.80)(16.40)(16.04)
Customer netback$/MWh107.97 102.77 109.14 104.82 100.06
Energy cost$/MWh(106.73)(93.16)(101.72)(97.67)(86.23)
Actual electricity line losses%5%7%9%7%7%
Retail gas salesPJ0.2 0.2 0.1 2.1 2.1
Electricity ICPs#428,000 403,500 426,500 419,000 407,000
Gas ICPs#70,000 64,500 69,500 68,000 64,500
Broadband connections#67,000 44,000 66,000 60,000 36,000
WholesaleElectricity sales to Customer businessGWh265 253 249 2,691 2,670
Electricity sales to Commercial and IndustrialGWh121 160 112 1,067 1,461
Electricity CFD salesGWh241 197 196 2,289 1,720
Contracted electricity salesGWh627 609 557 6,048 5,851
Steam salesGWh61 55 50 517 543
Total electricity and steam net revenue$/MWh95.52 84.87 93.65 97.93 84.00
C&I netback (at the ICP)$/MWh110.13 86.54 97.01 89.22 80.67
C&I line losses%7%6%12%5%4%
Thermal generationGWh156 77 37 602 1,024
Geothermal generationGWh272 274 235 2,437 2,315
Hydro generationGWh209 242 294 3,182 2,790
Spot electricity salesGWh638 593 566 6,221 6,128
Electricity sales -DirectGWh8 7 7 71 71
Acquired generationGWh45 76 23 265 322
Electricity generated (or acquired)GWh691 676 597 6,557 6,522
Unit generation cost (including acquired generation)$/MWh(53.93)(44.51)(36.78)(35.42)(37.89)
Spot electricity purchasesGWh(378)(406)(354)(3,688)(4,060)
CFD sale settlementsGWh(241)(197)(196)(2,289)(1,720)
Spot exposed purchases / CFD settlementGWh(618)(603)(550)(5,977)(5,780)
Spot revenue and settlement on acquired generation (GWAP)$/MWh196.24 252.36 138.59 121.38 143.26
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(210.14)(257.58)(146.98)(130.67)(151.47)
LWAP/GWAP%107%102%106%108%106%
Gas used in internal generationPJ1.4 0.9 0.6 7.0 10.1
Gas storage net movement (extraction) / injectionPJ(0.7)0.4 0.1 1.4 (0.1)
ContactTotal customer connections#571,000 521,000 568,000 554,500 514,500

Contact Energy / Monthly Operating Report
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Material themeMeasureUnitQ3 FY22Q3 FY21
Climate ChangeEmissions from generation assets
1
kt CO
2
-e236270
Greenhouse Gas (GHG) intensity of generation
2
kt CO
2
-e / GWh0.1310.154
WaterFreshwater take
3
Million cubic metres0.580.86
Non-consumptive water usage
4
Million cubic metres3,1383,244
Geothermal fluid discharge to awa (rivers)Million cubic metres3.064.44
BiodiversityNative rākau(trees) planted by Contact
5
#-4,948
Pests caught
6
#989715
Community wellbeingCommunity initiatives and organisations supported#15*
Access to energyCustomer accepted (after standard credit checking / after prepay)%93% / 96%94% / 95%
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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