Contact Energy reports strong november operational performance

Contact Energy's November 2025 operating report reveals significant increases across its businesses. The customer segment saw mass market electricity and gas sales rise to 319GWh, up from 290GWh in November 2024, with a netback of $138.75/MWh. Wholesale operations recorded contracted electricity sales of 845GWh, a notable increase from 733GWh in the prior year, and generated 1,014GWh, up from 741GWh. The unit generation cost (including acquired generation) was $39.62/MWh, while own generation cost stood at $32.1/MWh.

Hydro storage also showed strength, with South Island controlled storage at 157% of mean and North Island at 129% of mean as of December 11, 2025. Inflows into Contact's Clutha catchment were 137% of mean for November 2025. National electricity demand increased by 4.1% compared to November 2024 and 3% versus November 2023.

Currently, Contact Energy has several renewable development projects under construction, including Glenbrook-Ohurua BESS (expected online Q1-CY26 at a cost of $163m), Kowhai Park Solar (Q2-CY26, $273m), and Te Mihi Stage 2 geothermal (Q3-CY27, $712m), indicating a strong focus on future capacity and sustainability.