February 2022 Operating Report

Monthly Operating Report
February 2022
Putting our energy where it matters

Contact Energy / Monthly Operating Report
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»The Customer business recorded:
•Mass market electricity and gas sales of 262GWh (February
2021: 246GWh)
•Mass market netback of $109.14/MWh (February 2021:
$100.20/MWh)
»The Wholesale business recorded:
•Contracted Wholesale electricity sales, including that sold to
the Customer business, totalled 557GWh (February 2021:
530GWh)
•Electricity and steam net revenueof $93.65/MWh (February
2021: $83.65/MWh)
•Electricity generated (or acquired) of 597GWh (February 2021:
586GWh)
•The unit generation cost, which includes acquired generation
was $36.78/MWh (February 2021: $41.90/MWh)
•Own generation cost in the month of $32.01/MWh
(February 2021: $35.25MWh)
»Otahuhu futures settlement wholesale price for
the 2
nd
quarter of 2022 (ASX):
•As at 09 Mar 2022: $235/MWh
•As at 28 Feb 2022: $187/MWh
•As at 31 Jan 2022: $185/MWh
»As at 09 Mar 2022, South Island controlled
storage was 99% of mean and North Island
controlled storage was 138% of mean
•As at09 Mar 2022, total Clutha scheme
storage (including uncontrolled storage)
was 80% of mean
•Inflows into Contact’s Clutha catchment
for February 2022 were 156% of mean
(January 2022: 42%
December 2021: 98%
November 2021: 86%)
»As at 1 March 2022, Contact’s contracted gas
volume (including contracted swaps) for the
next 12 months is 15.35PJ*
For the month of February 2022
* As notified by suppliers, actual gas received is dependent on field delivery

0
50
100
150
200
CY22CY23CY24CY25
$/MWh
30/06/202131/01/202228/02/2022
0
100
200
CY22CY23CY24CY25
$/MWh
30/06/202131/01/202228/02/2022
0
500
1000
1500
2000
2500
3000
3500
4000
4500
MarAprMayJunJulAugSepOctNovDecJanFeb
GWh
South Island ActualNorth Island Actual
South Island post-market meanNational post-market mean
New Zealand controlled hydro storage against mean
ASX futures settlement
Contact Energy / Monthly Operating Report
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12 MONTHS
Otahuhu
Benmore

0
50
100
150
200
250
300
$/MWh
FY21 BENFY22 BENFY21 OTAFY22 OTA
0%
20%
40%
60%
80%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading
periods
Feb-22Feb-21Jan-22
0%
20%
40%
60%
80%
<$35$36-$60$61-$85$86-$110$111-$135$136-$160>$160
% of trading periods
Feb-22Feb-21Jan-22
Wholesale electricity pricing
Otahuhu
Contact Energy / Monthly Operating Report
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Benmore
Distribution of wholesale market price by trading periods
Jul Aug Sept Oct Nov Dec Jan Feb Mar Apr May Jun

6%
5%
(2%)
1%
(7%)
(5%)
(28%)
(41%)
2%
(2%)
10%
(13%)
3%
6%
4%
4%
(6%)
(4%)
-
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
JulAugSepOctNovDecJanFebMarAprMayJun
GWh
North IslandSouth Island (exc. NZAS)NZAS
Contact Energy / Monthly Operating Report
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Total national demand
Regional demand change (%) on February 2021
»New Zealand electricity demand was down 2.3% on February 2021 (down 6.8%
on February 2020):
•Cumulative 12 months demand for March 2021 to February 2022 of 41,276
GWh is up 1.0% to the prior comparative period.
Source: Contact and Electricity Authority grid demand (reconciled) http://www.emi.ea.govt.nz
FY20, 21 and 22 respectively
Regional demand is excluding NZAS
Nationwide
temperatures for
February 2022 were
17.8ºC, 0.5ºC higher
than February 2021:
17.3ºC

-
20
40
60
80
100
120
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
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Customer
Generation mix, gross sales position and unit generation cost (FY21 and 22 respectively)
Retail sales volumes and netback (FY21 and 22 respectively)

Contact Energy / Monthly Operating Report
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Measure
The month ended The month ended The month ended Eight months endingEight months ending
February 22February 21January 22February 22February 21
CustomerMass market electricity salesGWh226 208 233 2,260 2,243
Retail gas salesGWh36 38 43 523 542
Mass market electricity and gas salesGWh262 246 276 2,782 2,785
Average electricity sales price$/MWh263.85 256.03 263.17 251.79 248.18
Electricity direct pass thru costs$/MWh(123.60)(122.87)(127.33)(117.35)(115.14)
Cost to serve$/MWh(22.80)(21.06)(20.48)(16.12)(15.70)
Customer netback$/MWh109.14 100.20 105.93 104.49 99.89
Energy cost$/MWh(101.72)(83.54)(92.66)(96.70)(85.54)
Actual electricity line losses%9%6%6%7%7%
Retail gas salesPJ0.1 0.1 0.2 1.9 2.0
Electricity ICPs#426,500 402,500 423,500 418,000 407,500
Gas ICPs#69,500 64,500 68,500 67,500 64,500
Broadband connections#66,000 42,000 64,000 59,500 35,000
WholesaleElectricity sales to Customer businessGWh249 221 249 2,426 2,418
Electricity sales to Commercial and IndustrialGWh112 152 116 946 1,301
Electricity CFD salesGWh196 156 199 2,049 1,523
Contracted electricity salesGWh557 530 564 5,421 5,242
Steam salesGWh50 46 45 456 488
Total electricity and steam net revenue$/MWh93.65 83.65 83.82 98.21 83.76
C&I netback (at the ICP)$/MWh97.01 80.31 84.69 86.61 79.96
C&I line losses%12%4%2%5%4%
Thermal generationGWh37 54 48 446 946
Geothermal generationGWh235 241 270 2,164 2,040
Hydro generationGWh294 237 288 2,973 2,548
Spot electricity salesGWh566 532 606 5,583 5,535
Electricity sales -DirectGWh7 8 9 63 65
Acquired generationGWh23 47 34 219 247
Electricity generated (or acquired)GWh597 586 649 5,865 5,846
Unit generation cost (including acquired generation)$/MWh(36.78)(41.90)(37.77)(33.24)(36.93)
Spot electricity purchasesGWh(354)(366)(357)(3,310)(3,654)
CFD sale settlementsGWh(196)(156)(199)(2,049)(1,523)
Spot exposed purchases / CFD settlementGWh(550)(522)(555)(5,358)(5,177)
Spot revenue and settlement on acquired generation (GWAP)$/MWh138.59 239.32 152.34 112.56 130.63
Spot purchases and settlement on CFDs sold (LWAP)$/MWh(146.98)(247.35)(164.45)(121.49)(139.12)
LWAP/GWAP%106%103%108%108%106%
Gas used in internal generationPJ0.5 0.7 0.7 5.6 9.3
Gas storage net movement (extraction) / injectionPJ0.1 0.2 (0.1)2.0 (0.5)
ContactTotal customer connections#568,000 519,000 562,000 552,500 513,500

Contact Energy / Monthly Operating Report
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Material themeMeasureUnitQ2 FY22Q2 FY21
Climate ChangeEmissions from generation assets
1
kt CO
2
-e118167
Greenhouse Gas (GHG) intensity of generation
2
kt CO
2
-e / GWh0.0580.091
WaterFreshwater take
3
Million cubic metres0.760.48
Non-consumptive water usage
4
Million cubic metres4,8014,703
Geothermal fluid discharge to awa (rivers)Million cubic metres3.584.77
BiodiversityNative rākau(trees) planted by Contact
5
#18,4345,679
Pests caught
6
#1,8931,164
Community wellbeingCommunity initiatives and organisations supported#23*
Access to energyCustomer accepted (after standard credit checking / after prepay)%93% / 96%92% / 94%
1
Scope 1 –Stationary combustion. In FY21 stationary combustion was 99.97% 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 and includes Council take in Q2 FY22
4
Water that flows through our Roxburgh power station and cooling water for our geothermal power stations
5
Does not include DrylandsCarbonactivities
6
Predominantly stoats, rats and possums
* Data has not historically been collected by quarter
Note: This information is updated quarterly (September, December, March, June)

Contact Energy / Monthly Operating Report
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investor.centre@contactenergy.co.nz
contact.co.nz/aboutus/investor-centre
+64 21 072 8578
Investors
Matthew Forbes –GM Corporate Finance
contact.co.nz
@ContactEnergy
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