October 2023 Operating Report

Monthly Operating Report
October 2023

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 349GWh (October 2022:
372GWh)
•Mass market netback of $127.60/MWh (October 2022:
$107.59MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 742GWh (October 2022:
638GWh)
•Electricity and steam net revenue of $109.70/MWh (October
2022: $99.90MWh)
•Electricity generated (or acquired) of 848GWh (October 2022:
638GWh)
•The unit generation cost, which includes acquired generation
was $37.39MWh (October 2022: $34.15/MWh)
•Own generation cost in the month of $28.91/MWh
(October 2022: $30.93/MWh)
»Tauhara project progress vs. target for October 2023 was 98%
vs. 99%
1
.
»Te Huka 3 project progress vs. target for October 2023 was 66%
vs. 63%
1
.
»Otahuhu futures settlement wholesale price for the 1
st
quarter
of 2024 (ASX):
•As at6 November 2023: $158/MWh
•As at31 October 2023: $167/MWh
•As at29 September 2023: $141/MWh
»As at7
th
November 2023, South Island controlled storage was
104% of mean and North Island controlled storage was 106% of
mean
•As at7
th
November 2023, total Clutha scheme storage
was 74% of mean
•Inflows into Contact’s Clutha catchment for October 2023
were 114% of mean. (September 2023: 166%, August 2023:
61%, July 2023: 49%)
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 11.4PJ
2
October overview.
For the month of October 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. 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.

0
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CY23CY24CY25CY26CY27
$/MWh
30/06/202229/09/202331/10/2023
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CY23CY24CY25CY26CY27
$/MWh
30/06/202229/09/202331/10/2023
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3500
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4500
NovDecJanFebMarAprMayJunJulAugSepOct
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
New Zealand controlled hydro storage against mean
ASX futures settlement
Hydro storage and forward prices.
Contact Energy / Monthly Operating Report
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12 MONTHS
Otahuhu
Benmore

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

Electricity demand.
Contact Energy / Monthly Operating Report
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Information for October 2023 was not
available at the time of preparing this
operating report.

-
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
-
10
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40
50
60
70
80
90
100
-
100
200
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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
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)

Contact Energy / Monthly Operating Report
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Measure
The month ended The month ended The month ended Three months endingThree months ending
October 23October 22September 23October 23October 22
RetailMass market electricity salesGWh289 303 302 1,379 1,390
Retail gas salesGWh60 69 69 297 329
Mass market electricity and gas salesGWh349 372 371 1,676 1,718
Average electricity sales price$/MWh280.95 256.79 276.85 271.18 250.53
Electricity direct pass thru costs$/MWh(123.57)(118.31)(124.79)(116.09)(112.54)
Cost to serve$/MWh(13.35)(14.98)(19.61)(15.19)(13.41)
Customer netback$/MWh127.60 107.59 119.88 125.60 109.59
Energy cost$/MWh(114.11)(108.16)(123.80)(139.73)(116.33)
Actual electricity line losses%7%6%4%6%6%
Retail gas salesPJ0.2 0.2 0.2 1.1 1.2
Electricity ICPs#432,000 429,000 433,000 432,500 431,000
Gas ICPs#71,000 70,500 71,000 71,000 71,000
Broadband connections#89,000 75,000 88,000 88,000 74,000
WholesaleElectricity sales to Customer businessGWh312 321 316 1,472 1,481
Electricity sales to Commercial and IndustrialGWh113 144 114 457 544
Electricity CFD salesGWh318 173 259 1,155 715
Contracted electricity salesGWh742 638 689 3,084 2,740
Steam salesGWh20 59 18 81 224
Total electricity and steam net revenue
1
$/MWh109.70 99.90 127.96 134.98 107.01
C&I netback (at the ICP)$/MWh112.22 112.47 124.70 135.85 125.86
C&I line losses%4%5%4%4%4%
Thermal generationGWh53 17 174 679 220
Geothermal generationGWh268 283 265 1,119 1,125
Hydro generationGWh443 297 287 1,279 1,302
Spot electricity salesGWh765 598 726 3,077 2,647
Electricity sales – DirectGWh- 8 - - 28
Acquired generationGWh843258 148 131
Electricity generated (or acquired)GWh848 638 784 3,225 2,806
Unit generation cost (including acquired generation)
2
$/MWh(37.39)(34.15)(54.22)(46.02)(36.19)
Spot electricity purchasesGWh(424)(456)(430)(1,929)(1,997)
CFD sale settlementsGWh(318)(173)(259)(1,155)(715)
Spot exposed purchases / CFD settlementGWh(742)(630)(689)(3,084)(2,712)
Spot revenue and settlement on acquired generation (GWAP)$/MWh114.76 74.07 115.06 120.47 70.95
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(121.95)(84.38)(122.70)(128.02)(78.68)
LWAP/GWAP%106%114%107%106%111%
Gas used in internal generationPJ0.5 0.4 1.4 5.4 2.7
Gas storage net movement (extraction) / injectionPJ0.1 (0.3)(0.0)(0.6)1.4
Progress tracking actual (target) for Tauhara (grey) and Te Huka 3 (no fill)%98% (99%)66% (63%)N/A98% (99%)61% ( 59%)N/AN/A
ContactTotal customer connections#598,000 580,000 598,000 597,000 581,000
Realised gains / (losses) on market derivatives not in a hedge relationship
3
$m(0.06)(0.54)0.66 (2.66)(4.12)
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
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Environment, Social and Governance (ESG)
Material themeMeasureUnit
Q1 FY24Q1 FY23
Climate Change*
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e
325 179
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.1410.087
Water
Water Freshwater take
3
Million cubic
metres
0.692.30
Non-consumptive water usage
4
Million cubic
metres
3,6435,354
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
3.914.31
Biodiversity
Native rākau (trees) planted by Contact
5
#
42,67931,060
Pests caught
6
#
458914
Community
Community initiatives and organisations supported#
2113
Inclusion and
Diversity
Board
% Women/ %
Men
57% / 43%57% / 43%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
20% / 80%18% / 82%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
47% / 52%48% / 51%
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)
* We experienced low rainfall at the start of FY24 with inflows to the Clutha catchment at 49% of mean in July and 61% of mean in August. For Q1 FY24 Clutha storage levels were on
average 63% of mean, versus 137% in Q1 FY23. This low hydrology in Q1 FY24 resulted in an increased need for thermal generation compared to the Q1 FY23.

Contact Energy / Monthly Operating Report
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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