Key points
- Mass market electricity and gas sales of 271GWh
- Wholesale electricity sales, including to Customer business, totalled 700GWh
- Te Huka 3 project progress at 99.5% vs. 100% target
Full summary
Contact Energy Ltd has released its January 2025 operating report, providing an overview of the company's performance. In the Customer business, mass market electricity and gas sales totalled 271GWh, compared to 272GWh in January 2024. The mass market netback was $167.65/MWh, up from $144.04/MWh in the prior year. In the Wholesale business, contracted electricity sales, including to the Customer business, totalled 700GWh, up from 684GWh in January 2024. Electricity and steam net revenue was $123.24/MWh, compared to $113.64/MWh a year earlier. Electricity generated (or acquired) was 690GWh, down from 755GWh in January 2024, with the unit generation cost, including acquired generation, at $45.95/MWh versus $41.66/MWh. The Te Huka 3 project progress was 99.5% versus a 100% target, while the Battery Energy Storage System (BESS) project progress was 47% versus a 53% target. The report also provided updates on hydro storage levels, wholesale electricity pricing, and regional demand changes.
Guidance
Contact Energy's contracted gas volume (including contracted swaps) for the next 12 months is 4.34PJ.