October 2024 Operating Report

Monthly Operating Report
October 2024

2
October 2024 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 320GWh (October 2023:
349GWh)
•Mass market netback of $133.29/MWh (October 2023:
$129.50/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 699GWh (October 2023:
742GWh)
•Electricity and steam net revenue of $136.30/MWh (October
2023: $109.70/MWh)
•Electricity generated (or acquired) of 717GWh (October 2023:
848GWh)
•The unit generation cost, which includes acquired generation
was $52.62/MWh (October 2023: $37.39/MWh)
•Own generation cost in the month of $38.7/MWh
(October 2023: $28.9/MWh)
»Te Huka 3 project progress vs. target for October 2024 was 97% vs.
98%
1
.
»Battery Energy Storage System (BESS) project progress vs. target for
October 2024 was 22% vs. 24%
1
.
»Otahuhu futures settlement wholesale price for the 1
st
quarter
of 2025 (ASX):
•As at 8 November 2024: $129.15/MWh
•As at 31 October 2024: $138/MWh
•As at 30 September 2024: $195/MWh
»As at 11
th
November 2024, South Island controlled storage was
145% of mean and North Island controlled storage was 117% of
mean.​
»As at 11
th
November 2024, total Clutha scheme storage
was 156% of mean.​
»Inflows into Contact’s Clutha catchment for October
2024 were 145% of mean. (September 2024: 193%; August
2024: 86%, July 2024: 74%).
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 4.8PJ.
1
The progress target 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.

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
NovDecJanFebMarAprMayJunJulAugSepOct
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
0
100
200
300
CY24CY25CY26CY27
$/MWh
30/06/202330/09/202431/10/2024
0
100
200
300
CY24CY25CY26CY27
$/MWh
30/06/202330/09/202431/10/2024

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
300
350
400
450
500
JulAugSeptOctNovDecJanFebMarAprMayJun
$/MWh
FY24 BENFY25 BENFY24 OTAFY25 OTA
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Oct-24Oct-23Sep-24
0%
20%
40%
60%
80%
100%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Oct-24Oct-23Sep-24

5
Total national demand
Regional demand change (%) on October 2023
»New Zealand electricity demand was down 3.4% on October 2023 (down 5.0% on
October 2022) due to reduced consumption by NZAS following the activation of
demand response mechanisms. Demand excluding NZAS was flat.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY23, 24 and 25 respectively
Regional demand is excluding NZAS
The nationwide
average temperature
for October 2024 was
12.9ºC, 0.4ºC lower
than October 2023:
12.5ºC
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
(2%)
(0%)
(3%)
(4%)
2%
1%
11%
(13%)
2%
13%
0%
0%
(0%)
(1%)
1%
(65%)
1%
1%
26%

Wholesale
Contact Energy / Monthly Operating Report
6
Retail
Generation mix, gross sales position and unit generation cost (FY24 and 25
respectively)
Retail sales volumes and netback (FY24 and 25 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
This includes market making activity and is reported outside of EBITDAF.
7
Operational data
Measure
The month ended The month ended The month ended Four months endingFour months ending
October 24October 23September 24October 24October 23
RetailMass market electricity salesGWh276 289 318 1,375 1,379
Retail gas salesGWh44 60 71 262 297
Mass market electricity and gas salesGWh320 349 389 1,637 1,676
Average electricity sales price$/MWh300.23 280.95 287.09 283.27 271.18
Electricity direct pass thru costs$/MWh(138.56)(123.57)(131.10)(125.65)(116.09)
Cost to serve$/MWh(19.45)(13.35)(14.64)(15.10)(15.19)
Customer netback$/MWh133.29 129.50 130.58 132.13 127.59
Energy cost$/MWh(124.34)(115.98)(140.18)(158.46)(141.72)
Actual electricity line losses%5%7%4%5%6%
Retail gas salesPJ0.2 0.2 0.3 0.9 1.1
Electricity ICPs#444,500 432,000 444,500 443,500 432,500
Gas ICPs#73,000 71,000 73,000 73,000 71,000
Telco connections#115,000 91,000 113,000 112,000 88,500
WholesaleElectricity sales to Customer businessGWh291 312 332 1,454 1,472
Electricity sales to Commercial and IndustrialGWh132 113 125 509 457
Electricity CFD salesGWh276 318 356 1,223 1,155
Contracted electricity salesGWh699 742 814 3,186 3,084
Steam salesGWh22 20 21 89 81
Total electricity and steam net revenue$/MWh136.30 109.70 174.51 173.93 134.98
C&I netback (at the ICP)$/MWh106.40 112.22 138.13 145.66 135.85
C&I line losses%4%4%4%4%4%
Thermal generationGWh30 53 26 484 679
Geothermal generationGWh266 268 362 1,412 1,119
Hydro generationGWh398 443 398 1,202 1,279
Spot electricity salesGWh694 765 787 3,097 3,077
Electricity sales – DirectGWh- - - - -
Acquired generationGWh23 84 72 246 148
Electricity generated (or acquired)GWh717 848 859 3,343 3,225
Unit generation cost (including acquired generation)$/MWh(52.62)(37.39)(52.04)(61.46)(46.02)
Spot electricity purchasesGWh(423)(424)(457)(1,963)(1,929)
CFD sale settlementsGWh(276)(318)(356)(1,223)(1,155)
Spot exposed purchases / CFD settlementGWh(699)(742)(814)(3,186)(3,084)
Spot revenue and settlement on acquired generation (GWAP)$/MWh58.64 114.76 78.86 249.68 120.47
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(62.40)(121.95)(90.51)(262.10)(128.02)
LWAP/GWAP%106%106%115%105%106%
Gas used in internal generationPJ0.3 0.5 0.3 3.8 5.4
Gas storage net movement (extraction) / injectionPJ1.0 0.1 1.2 1.7 (0.7)
Progress tracking actual (target) for BESS%22% (24%)N/AN/AN/AN/A
Progress tracking actual (target) for Te Huka 3%97% (98%)66% (63%)96% (97%)N/AN/A
ContactTotal customer connections#633,000 598,000 635,000 632,000 597,000
Realised gains / (losses) on market derivatives not in a hedge relationship
1
$m(0.16)(0.06)(0.18)(15.13)(2.66)

8
Material themeMeasureUnit
Q1 FY25Q1 FY24
Climate Change
Greenhouse Gas (GHG) Emissions from generation assets
1
kt CO
2
-e
313
325
GHG intensity of generation
2
kt CO
2
-e /
GWh
0.130
0.141
Water
Freshwater take
3
Million cubic
metres
0.570.69
Non-consumptive water usage
4
Million cubic
metres
3,6713,643
Geothermal fluid discharge to awa (rivers)
Million cubic
metres
4.543.91
Biodiversity
Native rākau (trees) planted by Contact
5
#
46,165
42,679
Pests caught
6
#
851
458
Community
Community initiatives and organisations supported#
2621
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
46% /53%48% / 51%
Note: This information is updated quarterly (September, January, April, June)
1
Scope 1 – Stationary combustion. Q1 emissions from combustion of natural gas in our gas fired power stations reduced by 31% YoY.
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 DrylandCarbon/Forest Partners activities.
6
Predominantly rats, possums and hedgehogs.
7
Includes all permanent, fixed term and casual employees. 1.4% and 1.5% unspecified in Q1 FY25 and Q1 FY24 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
Keep in touch