April 2024 Operating Report

Monthly Operating Report
April 2024

2
April 2024 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 309GWh (April 2023:
300GWh)
•Mass market netback of $136.31/MWh (April 2023: $124.68/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 675GWh (April 2023: 600GWh)
•Electricity and steam net revenue of $137.02/MWh (April 2023:
$116.81/MWh)
•Electricity generated (or acquired) of 758GWh (April 2023:
597GWh)
•The unit generation cost, which includes acquired generation
was $48.79/MWh (April 2023: $27.08/MWh)
•Own generation cost in the month of $31.04/MWh (April
2023: $27.45/MWh)
»Tauhara has progressed into power station commissioning
(EPC contractor process). Construction tracking data has been
removed from this report as it is no longer meaningful.
»Te Huka 3 project progress vs. target for April 2024 was 85% vs.
86%
1
.
»Otahuhu futures settlement wholesale price for the 3
rd
quarter
of 2024 (ASX):
•As at 7 May 2024: $230/MWh
•As at 30 April 2024: $225/MWh
•As at 28 March 2024: $230/MWh
»As at 8th May 2024, South Island controlled storage was 96% of
mean and North Island controlled storage was 83% of mean.​
»As at 8th May 2024, total Clutha scheme storage was
89% of mean.​
»Inflows into Contact’s Clutha catchment for April 2024
were 197% of mean. (March 2024: 68%, February 2024:
93%, January 2024: 145%)
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 7.4PJ
2
.
1
The progress target for 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.
2
This incorporates the lower bound of the range notified by our suppliers as disclosed to the market on 7 April 2024.
.

New Zealand controlled hydro storage
against mean / 12 months
ASX futures settlement
Hydro storage and forward prices
3
Benmore
Otahuhu
Contact Energy / Monthly Operating Report
0
500
1000
1500
2000
2500
3000
3500
4000
4500
MayJunJulAugSepOctNovDecJanFebMarApr
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
300
CY24CY25CY26CY27
$/MWh
30/06/202328/03/202430/04/2024
0
50
100
150
200
CY24CY25CY26CY27
$/MWh
30/06/202328/03/202430/04/2024

Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
4
Benmore
Distribution of wholesale market price by trading periods
Wholesale market
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
Apr-24Apr-23Mar-24
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Apr-24Apr-23Mar-24

5
Total national demand
Regional demand change (%) on April 2023
»New Zealand electricity demand was up 4.4% on April 2023 (up 4.1% on
April 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 April 2024 was
13.8C, 0.6ºC lower
than April 2023: 14.4ºC
Electricity demand
Contact Energy / Monthly Operating Report
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
NZASSouth Island (exc. NZAS)North Island
(4%)
10%
3%
2%
5%
1%
22%
21%
6%
14%
(1%)
7%
8%
0%
2%
5%
9%
5%
19%

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)
Business performance
-
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
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

Contact Energy / Monthly Operating Report
7
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 contract provision for the Ahuroa Gas Storage facility (AGS).
3
This includes market making activity and is reported outside of EBITDAF.
7
Operational data
Measure
The month ended The month ended The month ended Ten months endingTen months ending
April 24April 23March 24April 24April 23
RetailMass market electricity salesGWh264 254 254 2,851 2,821
Retail gas salesGWh45 46 44 532 581
Mass market electricity and gas salesGWh309 300 297 3,383 3,402
Average electricity sales price$/MWh297.22 288.33 305.79 288.86 268.49
Electricity direct pass thru costs$/MWh(139.50)(133.85)(133.70)(126.23)(121.99)
Cost to serve$/MWh(18.90)(17.70)(19.95)(18.04)(16.81)
Customer netback$/MWh136.31 124.68 140.63 132.85 116.29
Energy cost$/MWh(139.29)(121.91)(139.13)(131.18)(114.71)
Actual electricity line losses%6%5%7%6%6%
Retail gas salesPJ0.2 0.2 0.2 1.9 2.1
Electricity ICPs#434,500 426,000 432,000 431,500 427,500
Gas ICPs#71,500 70,000 71,000 71,000 70,000
Telco connections#101,000 84,000 97,413 92,500 78,000
WholesaleElectricity sales to Customer businessGWh281 268 272 3,038 3,012
Electricity sales to Commercial and IndustrialGWh132 118 132 1,214 1,342
Electricity CFD salesGWh261 214 333 2,884 1,826
Contracted electricity salesGWh675 600 737 7,137 6,180
Steam salesGWh12 46 13 162 536
Total electricity and steam net revenue
1
$/MWh137.02 116.81 130.33 124.05 105.16
C&I netback (at the ICP)$/MWh137.19 113.49 133.42 123.66 115.72
C&I line losses%4%4%4%4%4%
Thermal generationGWh59 12 201 1,309 403
Geothermal generationGWh275 263 262 2,703 2,641
Hydro generationGWh333 318 221 3,113 3,185
Spot electricity salesGWh667 592 685 7,125 6,229
Electricity sales – DirectGWh- 5 - - 74
Acquired generationGWh91 - 64 433 131
Electricity generated (or acquired)GWh758 597 749 7,558 6,434
Unit generation cost (including acquired generation)
2
$/MWh(48.79)(27.08)(60.73)(46.34)(34.00)
Spot electricity purchasesGWh(413)(381)(404)(4,252)(4,281)
CFD sale settlementsGWh(261)(214)(333)(2,884)(1,826)
Spot exposed purchases / CFD settlementGWh(675)(595)(737)(7,137)(6,107)
Spot revenue and settlement on acquired generation (GWAP)$/MWh216.35 87.89 218.29 156.54 82.20
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(225.86)(92.46)(223.22)(163.19)(90.67)
LWAP/GWAP%104%105%102%104%110%
Gas used in internal generationPJ0.5 0.3 1.6 10.7 5.7
Gas storage net movement (extraction) / injectionPJ0.1 0.5 (0.7)(1.0)2.7
Progress tracking actual (target) for Te Huka 3%85% (86%)N/A83% (83%)N/AN/A
ContactTotal customer connections#612,000 586,000 605,000 600,000 581,000
Realised gains / (losses) on market derivatives not in a hedge relationship
3
$m0.55 (2.67)0.98 (2.31)(16.89)

8
Material themeMeasureUnit
Q3 FY24Q3 FY23
Climate Change*
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e
234157
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.1130.091
Water
Freshwater take
3
Million cubic
metres
0.800.52
Non-consumptive water usage
4
Million cubic
metres
3,3543,256
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
4.113.70
Biodiversity
Native rākau (trees) planted by Contact
5
#
01,000
Pests caught
6
#
761691
Community
Community initiatives and organisations supported#
1510
Inclusion and
Diversity
Board
% Women/ %
Men
43% / 57%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, April, June)
1
Scope 1 – Stationary combustion. In FY23 stationary combustion was 99.94% of Contact’s total Scope 1 emissions. There was more thermal generation in Q3 compared to previous quarters.
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. There was more thermal generation in Q3 compared to previous quarters, therefore more cooling water required.
4
Water that flows through our Roxburgh power station and cooling water for our geothermal power stations
5
Does not include DrylandCarbon/Forest Partners activities
6
Predominantly stoats, rats and possums
7
Includes all permanent, fixed term and casual employees. 1.8% and 1.3% unspecified in Q3 FY24 and Q3 FY23 respectively.
Contact Energy / Monthly Operating Report
Environment, Social and Governance (ESG)

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
Facebook.com/ContactEnergy
Youtube.com/ContactEnergy
To find out more about Contact Energy
+64 27 227 2429
Contact Energy / Monthly Operating Report
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