November 2023 Operating Report

Monthly Operating Report
November 2023

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 298GWh (November
2022: 285GWh)
•Mass market netback of $136.78/MWh (November 2022:
$118.59MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 626GWh (November 2022:
563GWh)
•Electricity and steam net revenue of $99.39/MWh (November
2022: $97.63MWh)
•Electricity generated (or acquired) of 707GWh (November 2022:
664GWh)
•The unit generation cost, which includes acquired generation
was $43.22MWh (November 2022: $29.83/MWh)
•Own generation cost in the month of $33.25/MWh
(November 2022: $29.20/MWh)
»Tauhara project progress vs. target for November 2023 was 98%
vs. 100%
1
.
»Te Huka 3 project progress vs. target for November 2023 was
72% vs. 68%
1
.
»Otahuhu futures settlement wholesale price for the 1
st
quarter
of 2024 (ASX):
•As at 7 December 2023: $185/MWh
•As at 30 November 2023: $181/MWh
•As at 31 October 2023: $167/MWh
»As at 7
th
December 2023, South Island controlled storage was
85% of mean and North Island controlled storage was 116% of
mean
•As at 7
th
December 2023, total Clutha scheme storage
was 67% of mean.
•Inflows into Contact’s Clutha catchment for November
2023 were 68% of mean. (October 2023: 114%, September
2023: 166%, August 2023: 61%)
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 11.8PJ
For the month of November 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.
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
50
100
150
200
CY23CY24CY25CY26CY27
$/MWh
30/06/202231/10/202330/11/2023
0
100
200
300
CY23CY24CY25CY26CY27
$/MWh
30/06/202231/10/202330/11/2023
0
500
1000
1500
2000
2500
3000
3500
4000
4500
DecJanFebMarAprMayJunJulAugSepOctNov
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%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Nov-23Nov-22Oct-23
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Nov-23Nov-22Oct-23
0
50
100
150
200
250
JulAugSeptOctNovDecJanFebMarAprMayJun
$/MWh
FY23 BENFY24 BENFY23 OTAFY24 OTA
Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods

Contact Energy / Monthly Operating Report
5
Information for November 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
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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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
7
Measure
The month ended The month ended The month ended Five months endingFive months ending
November 23November 22October 23November 23November 22
RetailMass market electricity salesGWh
251 236 289 1,630 1,626
Retail gas salesGWh
48 49 60 345 378
Mass market electricity and gas salesGWh
298 285 349 1,974 2,004
Average electricity sales price$/MWh
301.13 280.32 280.95 275.79 254.86
Electricity direct pass thru costs$/MWh
(127.75)(126.81)(123.57)(117.88)(114.61)
Cost to serve$/MWh
(22.78)(21.28)(13.35)(16.34)(14.53)
Customer netback$/MWh
136.78 118.59 127.60 127.29 110.87
Energy cost$/MWh
(101.71)(99.68)(114.11)(133.99)(113.96)
Actual electricity line losses%
4%6%7%6%6%
Retail gas salesPJ
0.2 0.2 0.2 1.2 1.4
Electricity ICPs#
430,000 426,000 432,000 432,000 430,000
Gas ICPs#
70,500 70,000 71,000 71,000 70,500
Broadband connections#
89,000 76,000 89,000 88,000 74,500
WholesaleElectricity sales to Customer businessGWh
261 252 312 1,732 1,733
Electricity sales to Commercial and IndustrialGWh
110 142 113 567 686
Electricity CFD salesGWh
255 169 318 1,411 884
Contracted electricity salesGWh
626 563 742 3,710 3,303
Steam salesGWh
20 53 20 101 276
Total electricity and steam net revenue
1
$/MWh
99.39 97.63 109.70 128.94 105.40
C&I netback (at the ICP)$/MWh
102.39 101.45 112.22 129.37 120.81
C&I line losses%
4%4%4%4%4%
Thermal generationGWh
42 12 53 721 232
Geothermal generationGWh
260 239 268 1,379 1,364
Hydro generationGWh
340 404 443 1,619 1,706
Spot electricity salesGWh
641 656 765 3,718 3,303
Electricity sales – DirectGWh
-8 --36
Acquired generationGWh
66084 214 131
Electricity generated (or acquired)GWh
707 664 848 3,932 3,470
Unit generation cost (including acquired generation)
2
$/MWh
(43.22)(29.83)(37.39)(45.52)(34.97)
Spot electricity purchasesGWh
(371)(385)(424)(2,300)(2,383)
CFD sale settlementsGWh
(255)(169)(318)(1,411)(884)
Spot exposed purchases / CFD settlementGWh
(626)(555)(742)(3,710)(3,267)
Spot revenue and settlement on acquired generation (GWAP)$/MWh
139.45 39.22 114.76 123.88 64.89
Spot purchases and settlement on CFDs sold (LWAP)$/MWh
(144.89)(43.87)(121.95)(130.87)(72.77)
LWAP/GWAP%
104%112%106%106%112%
Gas used in internal generationPJ
0.4 0.4 0.5 5.8 3.1
Gas storage net movement (extraction) / injectionPJ
0.1 0.3 0.1 (0.6)1.6
Progress tracking actual (target) for Tauhara (grey)and TeHuka3 (no fill)%98% (100%)72% (68%)N/A98% (99%)66% (63%)N/AN/A
ContactTotal customer connections#
596,000 578,000 598,000 597,000 580,500
Realised gains / (losses) on market derivatives not in a hedge relationship
3
$m
0.03(3.85)(0.06)(2.63)(7.97)
1
Contact has made reclassifications to better align with IFRIC guidance on IFRS 9 resulting in realised gains/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

Contact Energy / Monthly Operating Report
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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 Q4 FY23 and Q4FY22 respectively.
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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investor.centre@contactenergy.co.nz
contact.co.nz/aboutus/investor-centre
Investors
Shelley Hollingsworth – Investor Relations &
Strategy Manager
contact.co.nz
@ContactEnergy
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To find out more about Contact Energy
+64 27 227 2429