December 2023 Operating Report

Monthly Operating Report
December 2023

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 279GWh (December
2022: 283GWh)
•Mass market netback of $143.83/MWh (December 2022:
$122.17MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 692GWh (December 2022:
568GWh)
•Electricity and steam net revenue of $96.02/MWh (December
2022: $89.20MWh)
•Electricity generated (or acquired) of 692GWh (December 2022:
612GWh)
•The unit generation cost, which includes acquired generation
was $38.13/MWh (December 2022: $27.01/MWh)
•Own generation cost in the month of $35.20/MWh
(December 2022: $27.30/MWh)
»Tauhara project progress vs. target for December 2023 was 98%
vs. 100%
1
.
»Te Huka 3 project progress vs. target for December 2023 was
75% vs. 72%
1
.
»Otahuhu futures settlement wholesale price for the 2
nd
quarter
of 2024 (ASX):
•As at 15 January 2024: $217/MWh
•As at 29 December 2023: $211/MWh
•As at 30 November 2023: $195/MWh
»As at 16
th
January 2024, South Island controlled storage was
77% of mean and North Island controlled storage was 130% of
mean.
•As at 16
th
January 2024, total Clutha scheme storage was
61% of mean.
•Inflows into Contact’s Clutha catchment for December
2023 were 69% of mean. (November 2023: 68%, October
2023: 114%, September 2023: 166%)
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 11.7PJ
December overview.
For the month of December 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
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CY24CY25CY26CY27
$/MWh
30/06/202330/11/202329/12/2023
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
Hydro storage and forward prices.
Contact Energy / Monthly Operating Report
3
12 MONTHS
Otahuhu
Benmore

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
Dec-23Dec-22Nov-23
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Dec-23Dec-22Nov-23
Wholesale electricity pricing
Otahuhu
Wholesale market.
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods

(2%)
20%
3%
3%
4%
4%
14%
34%
0%
2%
(0%)
2%
6%
(1%)
(1%)
13%
6%
9%
Electricity demand.
Contact Energy / Monthly Operating Report
5
Total national demand
Regional demand change (%) on December 2022
»New Zealand electricity demand was up 3.1% on December 2022 (up
2.6% on December 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 December 2023
was 16.9ºC, 0.1ºC lower
than December 2022:
17.0ºC

-
20
40
60
80
100
120
140
160
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
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
GeothermalHydro
ThermalAcquired generation

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 23December 22November 23December 23December 22
RetailMass market electricity salesGWh240 240 251 1,870 1,866
Retail gas salesGWh39 43 48 384 421
Mass market electricity and gas salesGWh279 283 298 2,254 2,286
Average electricity sales price$/MWh310.60 284.66 301.13 280.27 258.69
Electricity direct pass thru costs$/MWh(137.77)(133.09)(127.75)(120.44)(116.99)
Cost to serve$/MWh(18.44)(20.04)(22.78)(16.60)(15.21)
Customer netback$/MWh143.83 122.17 136.78 129.34 112.27
Energy cost$/MWh(101.49)(97.82)(101.71)(129.96)(111.96)
Actual electricity line losses%6%6%4%6%6%
Retail gas salesPJ0.1 0.2 0.2 1.4 1.5
Electricity ICPs#428,500 424,000 430,000 431,500 429,000
Gas ICPs#70,500 69,500 70,500 71,000 70,500
Broadband connections#90,000 78,000 89,000 89,000 75,000
WholesaleElectricity sales to Customer businessGWh256 256 261 1,989 1,988
Electricity sales to Commercial and IndustrialGWh119 140 110 686 826
Electricity CFD salesGWh316 172 255 1,727 1,057
Contracted electricity salesGWh692 568 626 4,402 3,872
Steam salesGWh18 60 20 118 336
Total electricity and steam net revenue
1
$/MWh96.02 89.20 99.39 123.78 102.98
C&I netback (at the ICP)$/MWh93.06 98.63 102.39 123.07 117.07
C&I line losses%4%4%4%4%4%
Thermal generationGWh97 14 42 817 246
Geothermal generationGWh273 242 260 1,652 1,606
Hydro generationGWh297 347 340 1,916 2,053
Spot electricity salesGWh667 603 641 4,386 3,905
Electricity sales –DirectGWh-9 --45
Acquired generationGWh25066 239 131
Electricity generated (or acquired)GWh692 612 707 4,624 4,081
Unit generation cost (including acquired generation)
2
$/MWh(38.13)(27.01)(43.22)(44.41)(33.78)
Spot electricity purchasesGWh(375)(387)(371)(2,675)(2,770)
CFD sale settlementsGWh(316)(172)(255)(1,727)(1,057)
Spot exposed purchases / CFD settlementGWh(692)(559)(626)(4,402)(3,827)
Spot revenue and settlement on acquired generation (GWAP)$/MWh177.49 17.51 139.45 131.91 57.81
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(180.02)(21.94)(144.89)(138.59)(65.34)
LWAP/GWAP%101%125%104%105%113%
Gas used in internal generationPJ0.9 0.4 0.4 6.7 3.4
Gas storage net movement (extraction) / injectionPJ(0.0)0.4 0.1 (0.6)2.0
Progress tracking actual (target) for Tauhara (grey)and TeHuka3 (no fill)%98% (100%)75%(72%)N/A98% (100%)72%(68%)N/AN/A
ContactTotal customer connections#596,000 577,000 596,000 597,000 580,000
Realised gains / (losses) on market derivatives not in a hedge relationship
3
$m0.30 (3.21)0.03 (2.33)(11.18)
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
Unit generation costs are calculated excluding the impact of an onerous provision for the Ahuroa Gas Storage facility (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
Q2 F24Q2 FY23
Climate Change*
Greenhouse Gas (GHG)Emissions from generation assets
1
kt CO
2
-e
144 111
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.069 0.060
Water
Water Freshwater take
3
Million cubic
metres
0.500.60
Non-consumptive water usage
4
Million cubic
metres
4,2854,630
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
3.52.90
Biodiversity
Native rākau(trees) planted by Contact
5
#
2,51626,364
Pests caught
6
#
508643
Community
Community initiatives and organisations supported#
4422
Inclusion and
Diversity
Board
% Women/ %
Men
50% / 50%57% / 43%
Inclusion and
Diversity
Key Management Personnel
% Women/ %
Men
20% / 80%20% / 80%
Inclusion and
Diversity
Employee Gender balance
7
% Women/ %
Men
47% / 53%46% / 53%
Note: This information is updated quarterly (September, December, March, June)
1
Scope 1 – Stationary combustion. In FY23 stationary combustion was 99.94% 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. Please note the Te Rapa power station closed in June 2023, contributing to the decrease in this figure
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. 1.6% and 1.4% unspecified in Q2 FY24 and Q2 FY23 respectively.

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