• Mass market electricity and gas sales up 24% year-over-year
• Wholesale electricity sales up 29% year-over-year
• Generation costs down 41% year-over-year

Contact Energy has released its February 2026 operating report, providing an update on the company's performance across its customer and wholesale businesses. In the customer business, Contact recorded mass market electricity and gas sales of 295GWh, up 24% from February 2025. Mass market netback also improved to $160.23/MWh, compared to $159.57/MWh in the prior year. In the wholesale business, Contact's contracted wholesale electricity sales, including sales to the customer business, totalled 816GWh, an increase of 29% year-over-year. Electricity and steam net revenue was $122.35/MWh, down from $133.15/MWh in February 2025. Importantly, Contact's unit generation cost, which includes acquired generation, was $41.70/MWh, a 41% reduction from $70.95/MWh in the prior year. The company's own generation cost in the month was $31.0/MWh, down from $60.30/MWh. Contact also provided an update on its renewable development projects, including the Glenbrook-Ohurua Battery, Kōwhai Park Solar, and Te Mihi Stage 2 geothermal projects. The report also included details on New Zealand's electricity demand, hydro storage levels, and wholesale electricity pricing.