January 2024 Operating Report

Monthly Operating Report
January 2024

Contact Energy / Monthly Operating Report
2
»The Customer business recorded:
•Mass market electricity and gas sales of 272GWh (January 2023:
268GWh)
•Mass market netback of $143.32/MWh (January 2023:
$124.05/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 684GWh (January 2023:
570GWh)
•Electricity and steam net revenue of $113.64/MWh (January
2023: $98.20/MWh)
•Electricity generated (or acquired) of 755GWh (January 2023:
577GWh)
•The unit generation cost, which includes acquired generation
was $41.59/MWh (January 2023: $38.30/MWh)
•Own generation cost in the month of $38.60/MWh
(January 2023: $38.30/MWh)
»Tauhara project progress vs. target for January 2023 was 99%
vs. 100%
1
.
»Te Huka 3 project progress vs. target for January 2023 was 78%
vs. 76%
1
.
»Otahuhu futures settlement wholesale price for the 2
nd
quarter
of 2024 (ASX):
•As at 12 February 2024: $193/MWh
•As at 31 January 2024: $185/MWh
•As at 29 December 2023: $211/MWh
»Due to a data issue with our external provider, the hydrology
data has been excluded from the operating report this month.
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 10.9PJ
For the month of January 2024
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
CY24CY25CY26CY27
$/MWh
30/06/202329/12/202331/01/2024
0
100
200
CY24CY25CY26CY27
$/MWh
30/06/202329/12/202331/01/2024
New Zealand controlled hydro storage against mean
ASX futures settlement
Contact Energy / Monthly Operating Report
3
12 MONTHS
Otahuhu
Benmore
Due to a data issue with our external provider, the
hydrology data has been excluded from the operating
report this month.

0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Jan-24Jan-23Dec-23
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Jan-24Jan-23Dec-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

-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
NZASSouth Island (exc. NZAS)North Island
Contact Energy / Monthly Operating Report
5
Total national demand
Regional demand change (%) on January 2023
»New Zealand electricity demand was up 3.4% on January 2023 (up 2.2%
on January 2022)
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 January 2024 was
18.5C, 0.1ºC higher
than January 2023:
18.4ºC
(1%)
23%
2%
3%
2%
3%
13%
16%
3%
7%
(1%)
5%
8%
4%
4%
1%
7%
(0%)

-
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
-
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
6
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 Seven months endingSeven months ending
January 24January 23December 23January 24January 23
Retail
Mass market electricity salesGWh239 232 240 2,109 2,098
Retail gas salesGWh33 35 39 416 456
Mass market electricity and gas salesGWh272 268 279 2,525 2,554
Average electricity sales price$/MWh311.17 290.23 310.60 283.77 262.19
Electricity direct pass thru costs$/MWh(137.03)(135.10)(137.77)(122.32)(119.00)
Cost to serve$/MWh(22.61)(20.69)(18.44)(17.24)(15.78)
Customer netback$/MWh143.32 124.05 143.83 130.84 113.50
Energy cost$/MWh(124.49)(110.31)(101.49)(129.37)(111.79)
Actual electricity line losses%7%6%6%6%6%
Retail gas salesPJ0.1 0.1 0.1 1.5 1.6
Electricity ICPs#429,500 424,500 428,500 431,000 428,000
Gas ICPs#70,500 69,500 70,500 70,500 70,500
Broadband connections#91,000 79,000 90,000 89,000 75,500
Wholesale
Electricity sales to Customer businessGWh258 248 256 2,246 2,237
Electricity sales to Commercial and IndustrialGWh134 135 119 820 961
Electricity CFD salesGWh292 187 316 2,019 1,244
Contracted electricity salesGWh684 570 692 5,086 4,442
Steam salesGWh5 41 18 123 377
Total electricity and steam net revenue
1
$/MWh113.64 98.20 96.02 122.44 102.38
C&I netback (at the ICP)$/MWh111.47 107.20 93.06 121.18 115.69
C&I line losses%4%4%4%4%4%
Thermal generationGWh125 61 97 943 307
Geothermal generationGWh274 268 273 1,926 1,874
Hydro generationGWh339 239 297 2,255 2,292
Spot electricity salesGWh739 568 667 5,125 4,473
Electricity sales – DirectGWh-9 --54
Acquired generationGWh16025 255 131
Electricity generated (or acquired)GWh755 577 692 5,379 4,658
Unit generation cost (including acquired generation)
2
$/MWh(41.59)(38.30)(38.13)(44.01)(34.34)
Spot electricity purchasesGWh(392)(374)(375)(3,067)(3,144)
CFD sale settlementsGWh(292)(187)(316)(2,019)(1,244)
Spot exposed purchases / CFD settlementGWh(684)(562)(692)(5,086)(4,388)
Spot revenue and settlement on acquired generation (GWAP)$/MWh189.09 114.66 177.49 139.93 64.83
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(199.28)(128.89)(180.02)(146.75)(73.47)
LWAP/GWAP%105%112%101%105%113%
Gas used in internal generationPJ1.0 0.8 0.9 7.7 4.2
Gas storage net movement (extraction) / injectionPJ0.1 0.0 (0.0)(0.5)2.1
Progress tracking actual (target) for Tauhara (grey)and TeHuka3 (no fill)%99% (100%)78% (76%)N/A98% (100%)75% (72%)N/AN/A
Contact
Total 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

Contact Energy / Monthly Operating Report
8
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, January, 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
9
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
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To find out more about Contact Energy
+64 27 227 2429