November 2024 Operating Report

Monthly Operating Report
November 2024

2
November 2024 overview
»The Customer business recorded:
•Mass market electricity and gas sales of 290GWh (November
2023: 298GWh)
•Mass market netback of $134.39/MWh (November 2023:
$138.43/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 733GWh (November 2023:
626GWh)
•Electricity and steam net revenue of $115.81/MWh (November
2023: $99.39/MWh)
•Electricity generated (or acquired) of 741GWh (November 2023:
707GWh)
•The unit generation cost, which includes acquired generation
was $34.43/MWh (November 2023: $43.22/MWh)
•Own generation cost in the month of $27.9/MWh
(November 2023: $33.2/MWh)
»Te Huka 3 project progress vs. target for November 2024 was 98% vs.
99%
1
.
»Battery Energy Storage System (BESS) project progress vs. target for
November 2024 was 33% vs. 36%
1
.
»Otahuhu futures settlement wholesale price for the 1
st
quarter
of 2025 (ASX):
•As at 9 December 2024: $129.15/MWh
•As at 31 November 2024: $122/MWh
•As at 30 October 2024: $138/MWh
»As at 11
th
December 2024, South Island controlled storage was
141% of mean and North Island controlled storage was 119% of
mean.​
»As at 11
th
December 2024, total Clutha scheme storage
was 118% of mean.​
»Inflows into Contact’s Clutha catchment for November
2024 were 143% of mean. (October 2024: 145%;
September 2024: 193%, August 2024: 86%).
»Contact’s contracted gas volume (including contracted swaps)
for the next 12 months is 4.4PJ.
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
DecJanFebMarAprMayJunJulAugSepOctNov
GWh
South Island Actual
North Island Actual
0
100
200
CY25CY26CY27CY28
$/MWh
30/06/202331/10/202429/11/2024
0
50
100
150
200
CY25CY26CY27CY28
$/MWh
30/06/202331/10/202429/11/2024

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

5
Total national demand
Regional demand change (%) on November 2024
»New Zealand electricity demand was down 1.1% on November 2023 (up 0.1% on
November 2022) due to reduced consumption by NZAS following the activation
of demand response mechanisms. Demand excluding NZAS was up 1.9%
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 November 2024
was 14.7ºC, 1ºC above
the 1991-2020
November average.
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
5%
2%
(0%)
(4%)
6%
(4%)
6%
2%
(1%)
13%
3%
0%
2%
1%
1%
(70%)
1%
0%
24%

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 Five months endingFive months ending
November 24November 23October 24November 24November 23
RetailMass market electricity salesGWh248 251 276 1,623 1,630
Retail gas salesGWh42 48 44 304 345
Mass market electricity and gas salesGWh290 298 320 1,927 1,974
Average electricity sales price$/MWh307.43 301.13 300.23 286.97 275.79
Electricity direct pass thru costs$/MWh(142.42)(127.75)(138.56)(128.22)(117.88)
Cost to serve$/MWh(20.70)(22.78)(19.45)(15.94)(16.34)
Customer netback$/MWh134.39 138.43 133.29 132.47 129.23
Energy cost$/MWh(116.80)(103.37)(124.34)(152.20)(135.92)
Actual electricity line losses%10%4%5%6%6%
Retail gas salesPJ0.1 0.2 0.2 1.1 1.2
Electricity ICPs#442,500 430,000 444,500 443,500 432,000
Gas ICPs#73,000 70,500 73,000 73,000 71,000
Telco connections#115,000 90,966 115,000 113,000 89,000
WholesaleElectricity sales to Customer businessGWh274 261 291 1,728 1,732
Electricity sales to Commercial and IndustrialGWh138 110 132 647 567
Electricity CFD salesGWh321 255 276 1,544 1,411
Contracted electricity salesGWh733 626 699 3,919 3,710
Steam salesGWh20 20 22 109 101
Total electricity and steam net revenue$/MWh115.81 99.39 136.30 163.07 128.94
C&I netback (at the ICP)$/MWh98.63 102.39 106.40 135.68 129.37
C&I line losses%4%4%4%4%4%
Thermal generationGWh20 42 30 504 721
Geothermal generationGWh329 260 266 1,741 1,379
Hydro generationGWh391 340 398 1,593 1,619
Spot electricity salesGWh741 641 694 3,838 3,718
Acquired generationGWh0 66 23 246 214
Electricity generated (or acquired)GWh741 707 717 4,084 3,932
Unit generation cost (including acquired generation)$/MWh(34.43)(43.22)(52.62)(56.55)(45.52)
Spot electricity purchasesGWh(412)(371)(423)(2,375)(2,300)
CFD sale settlementsGWh(321)(255)(276)(1,544)(1,411)
Spot exposed purchases / CFD settlementGWh(733)(626)(699)(3,919)(3,710)
Spot revenue and settlement on acquired generation (GWAP)$/MWh30.77 139.45 58.64 209.96 123.88
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(37.95)(144.89)(62.40)(220.19)(130.87)
LWAP/GWAP%123%104%106%105%106%
Gas used in internal generationPJ0.2 0.4 0.3 4.0 5.8
Gas storage net movement (extraction) / injectionPJ0.1 0.1 1.0 1.8 (0.6)
Progress tracking actual (target) for BESS%33%(36%)NA22%(24%)NANA
Progress tracking actual (target) for Te Huka 3%98%(99%)72%(68%)97%(98%)N/AN/A
ContactTotal customer connections#635,000 596,000 637,000 633,500 597,000
Realised gains / (losses) on market derivatives not in a hedge relationship
1
$m0.12 0.03 (0.16)(15.01)(2.63)

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