August 2023 Operating Report

Monthly Operating Report
August 2023

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 489GWh
(August 2022: 458GWh)
•Mass market netback of $127.73/MWh (August 2022:
$109.58MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that
sold to the Customer business, totalled 832GWh
(August 2022: 701GWh)
•Electricity and steam net revenue of $145.86/MWh
(August 2022: $109.40MWh)
•Electricity generated (or acquired) of 803GWh (August
2022: 724GWh)
•The unit generation cost, which includes acquired
generation was $50.81MWh (August 2022: $37.37/MWh)
•Own generation cost in the month of
$50.54/MWh (August 2022: $30.64/MWh)
»Tauhara project progress vs. target for August
2023 was 98% vs. 98%
1
.
»Te Huka 3 project progress vs. target for
August 2023 was 54% vs. 54%
1
.
»Otahuhu futures settlement wholesale price
for the 4
th
quarter of 2023 (ASX):
•As at12 September 2023: $111/MWh
•As at31 August 2023: $144/MWh
•As at31 July 2023: $110/MWh
»As at12
th
September 2023, South Island
controlled storage was 87% of mean and
North Island controlled storage was 70% of
mean
•As at12
th
September 2023, total Clutha
scheme storage was 39% of mean
•Inflows into Contact’s Clutha catchment
for August 2023 were 61% of mean. (July
2023: 49%, June 2023: 128%, May 2023:
158%)
»Contact’s contracted gas volume (including
contracted swaps) for the next 12 months is
11.2PJ
2
August overview.
For the month of August 2023
1
The progress target for Tauhara and Te Huka 3 follows an S-Curve model in line with standard project
management practice(for large scale infrastructure projects). This will result in more gradual increments in the
reporting of target andactual progress as the projects near completion in Q4 of 2023 and late 2024, respectively.
Figures rounded to the nearest percentage.
2
Forecast gas volumes as notified by suppliers, actual gas received is dependent on field delivery. This
excludes gas available at AGS. It includes gas under discussion for reduction to reflect renewable build.
Note: Mean hydro references on this page are based on the mean of all reported periods
(i.e. both pre- and post-market data), sourced from NZX)

New Zealand controlled hydro storage against mean
ASX futures settlement
Hydro storage and forward prices.
Contact Energy / Monthly Operating Report
3
12 MONTHS
Otahuhu
Benmore
0
500
1000
1500
2000
2500
3000
3500
4000
4500
SepOctNovDecJanFebMarAprMayJunJulAug
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
300
CY23CY24CY25CY26
$/MWh
30/06/202231/07/202331/08/2023
0
100
200
CY23CY24CY25CY26
$/MWh
30/06/202231/07/202331/08/2023

Wholesale electricity pricing
Otahuhu
Wholesale market.
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods
0
50
100
150
200
250
JulAugSeptOctNovDecJanFebMarAprMayJun
$/MWh
FY23 BENFY24 BENFY23 OTAFY24 OTA
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Aug-23Aug-22Jul-23
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Aug-23Aug-22Jul-23

Electricity demand.
Contact Energy / Monthly Operating Report
5
Total national demand
Regional demand change (%) on August 2022
»New Zealand electricity demand was up 4.5% on August 2022 (up 6.9%
on August 2021)
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY22, 23 and 24 respectively
Regional demand is excluding NZAS
The nationwide
average temperature
for August 2023 was
8.4ºC, 1.9ºC lower than
August 2022: 10.3ºC
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
NZASSouth Island (exc. NZAS)North Island
2%
11%
7%
8%
4%
1%
2%
7%
9%
3%
5%
(1%)
10%
8%
8%
3%
6%
4%

Wholesale
Business performance.
Contact Energy / Monthly Operating Report
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Retail
Generation mix, gross sales position and unit generation cost (FY23 and 24
respectively)
Retail sales volumes and netback (FY23 and 24 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
140
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
7
Measure
The month ended The month ended The month ended Two months endingTwo months ending
August 23August 22July 23August 23August 22
RetailMass market electricity salesGWh403 368 385 788 763
Retail gas salesGWh86 91 82 168 179
Mass market electricity and gas salesGWh489 458 467 956 941
Average electricity sales price$/MWh264.28 248.97 266.65 265.44 248.02
Electricity direct pass thru costs$/MWh(108.37)(109.06)(111.73)(110.01)(109.15)
Cost to serve$/MWh(14.13)(12.49)(14.16)(14.15)(12.21)
Customer netback$/MWh127.73 109.58 126.40 127.08 110.05
Energy cost$/MWh(149.25)(118.74)(161.55)(155.26)(125.14)
Actual electricity line losses%6%6%7%7%6%
Retail gas salesPJ0.3 0.3 0.3 0.6 0.6
Electricity ICPs#433,500 431,500 431,000 432,500 431,500
Gas ICPs#71,000 71,000 70,500 71,000 71,000
Broadband connections#88,000 74,000 87,000 87,500 73,000
WholesaleElectricity sales to Customer businessGWh430 393 414 844 815
Electricity sales to Commercial and IndustrialGWh118 136 113 230 264
Electricity CFD salesGWh284 172 294 579 349
Contracted electricity salesGWh832 701 821 1,653 1,428
Steam salesGWh21 68 21 43 101
Total electricity and steam net revenue
1
$/MWh145.86 109.40 152.72 149.26 112.64
C&I netback (at the ICP)$/MWh150.62 131.73 155.32 152.92 138.16
C&I line losses%4%4%4%4%4%
Thermal generationGWh254 31 198 452 186
Geothermal generationGWh293 283 293 586 570
Hydro generationGWh253 340 296 549 655
Spot electricity salesGWh800 654 786 1,586 1,411
Electricity sales – DirectGWh- 8 - - 11
Acquired generationGWh3623 6 62
Electricity generated (or acquired)GWh803 724 789 1,592 1,484
Unit generation cost (including acquired generation)
2
$/MWh(50.81)(37.37)(42.28)(46.58)(37.22)
Spot electricity purchasesGWh(548)(521)(527)(1,074)(1,068)
CFD sale settlementsGWh(284)(172)(294)(579)(349)
Spot exposed purchases / CFD settlementGWh(832)(693)(821)(1,653)(1,416)
Spot revenue and settlement on acquired generation (GWAP)$/MWh138.63 48.94 113.48 126.17 75.93
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(145.50)(53.37)(120.24)(132.96)(82.84)
LWAP/GWAP%105%109%106%105%109%
Gas used in internal generationPJ2.0 0.5 1.5 3.5 1.9
Gas storage net movement (extraction) / injectionPJ(0.6)1.1 (0.2)(0.7)1.5
Progress tracking actual (target) for Tauhara (grey) and Te Huka 3 (no fill)%98% (98%)54% (54%)N/AN/A97% (98%)N/AN/AN/AN/AN/A
ContactTotal customer connections#598,000 582,000 594,000 596,000 581,000
Realised gains / (losses) on market derivatives not in a hedge relationship
3
$m(0.13)(4.99)(3.13)(3.26)(3.41)
1
Contact has made reclassifications to better align with IFRIC guidance on IFRS 9 resulting in realisedgains/losses from market derivatives not in a hedge relationship (includes market making activity) no longer being reported in operating income (EBITDAF). FY23 figures have been restated.
2
For FY23 comparison figures note that Unit generation costs are calculated excluding an onerous contract provision for AGS.
3
This includes market making activity and is reported outside of EBITDAF.
7
Operational data.

Contact Energy / Monthly Operating Report
8
Environment, Social and Governance (ESG)
Material themeMeasureUnit
Q4 FY23Q4 FY22
Climate Change
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e
83291
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.0430.142
Water
Water Freshwater take
3
Million cubic
metres
0.420.56
Non-consumptive water usage
4
Million cubic
metres
4,7232,855
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
4.274.01
Biodiversity
Native rākau (trees) planted by Contact
5
#
6,7077,947
Pests caught
6
#
7611,154
Community
Community initiatives and organisations supported#
2959
Inclusion and
Diversity
Board
% Women/ %
Men
57% / 43% 57% / 43%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
20% / 80% 20% / 80%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
46% / 53%46% / 52%
1
Scope 1 –Stationary combustion. In FY22 stationary combustion was 99.96% 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
4
Water that flows through our Roxburgh power station and cooling water for our geothermal power stations
5
Does not include DrylandsCarbon/Forest Partners activities
6
Predominantly stoats, rats and possums
7
Includes all permanent, fixed term and casual employees.1.2% and 1.4%unspecified in Q4FY23 and Q4FY22respectively.
Note: This information is updated quarterly (September, December, March, June)

Contact Energy / Monthly Operating Report
9
Keep in touch.
investor.centre@contactenergy.co.nz
contact.co.nz/aboutus/investor-centre
Investors
Shelley Hollingsworth – Investor Relations &
Strategy Manager
contact.co.nz
@ContactEnergy
Linkedin.com/company/contact-energy-ltd
Facebook.com/ContactEnergy
Youtube.com/ContactEnergy
To find out more about Contact Energy
+64 27 227 2429