Key points
- Mass market electricity and gas sales of 290GWh
- Wholesale electricity sales, including to Customer business, totalled 733GWh
- Te Huka 3 project progress at 98% vs. 99% target
Full summary
Contact Energy has released its November 2024 operating report, providing an overview of the company's performance across its retail and wholesale businesses. In the retail segment, the company recorded mass market electricity and gas sales of 290GWh, down from 298GWh in November 2023, with a mass market netback of $134.39/MWh. The wholesale business saw contracted electricity sales, including to the Customer business, total 733GWh, up from 626GWh in the prior year period. Electricity and steam net revenue was $115.81/MWh, compared to $99.39/MWh in November 2023. The company's own generation cost was $27.9/MWh, down from $33.2/MWh a year earlier. Progress on the Te Huka 3 project was 98% against a 99% target, while the Battery Energy Storage System (BESS) project was at 33% against a 36% target. The report also provided updates on hydro storage levels, wholesale electricity pricing, and regional demand trends.