Contact Energy Limited (ASX: CEN) is an ASX listed energy company, headquartered in Wellington, New Zealand. It is focused on providing gas and electricity to the two segments that it caters to; retail and business segment.
On 17th May 2019, the company announced April 2019 operational updates. In the customer segment, the company recorded mass market electricity sales of 273 GWh compared to the recorded number of 285 GWh in April 2018 (pcp). Retail gas sales were up by 7GWh, from pcp sales of 57 GWh to 64 GWh in April 2019. The total electricity and gas sales stood at 337 GWh which Is lower by 5 GWh compared to the pcp number of 342 GWh.
The average electricity sales price was posted at $245.37 per MWh compared to the pcp sales price of $244.83 per MWh. Cost to serve and energy cost was reported at $22.99 MWh and $70.4 MWh for April 2019. Electricity ICPs stood at 409,500, down by 4,500 from the pcp reported ICPs of 414,000 and Gas ICPs stood at 66,500 up by 1,500 from the pcp recorded ICPs of 65,000. Both the gas and electricity ICPs are rounded off to the nearest 500.
In the wholesale segment, the electricity sales to customer business were reported at 279 GWh, which is down by 25 GWh from 304 GWh of electricity sales in pcp. Electricity sales to commercial and industrial stood at 223 GWh, and the pcp electricity sales stood at 268 GWh. The sales of electricity CFD stood at 171 GWh, which is a good performance when compared to the pcp number of 101 GWh. The total contracted electricity sales stood at 673 GWh, which is approximately equal to the pcp number 674 GWh. In the ten months ended April 2019, the company had made a total contracted electricity sale of 7,051 GWh.
The company recorded 39 GWh of steam sales which is down from the steam sales of 44 GWh in March 2019 and 55 GWh of pcp steam sales. The net revenue from electricity and steam sales were reported at $75.60 per MWh, which is slightly higher than the pcp revenue of $75.55 per MWh. The C&I netback (at the ICP) was reported at $89.55 per MWh with the line loss of 5% whereas the pcp numbers were reported at $86.35 MWh with 4% of line loss. The thermal, geothermal and hydro generation numbers were seen at 77 GWH, 279 GWH and 384 GWM respectively. The total spot electricity sales stood at 740 GWh, up by 46 GWh from the pcp spot sales of 694 GWh.
The company purchased spot electricity of 497 GWh for the reporting period whereas the pcp purchases were posted at 564 GWh. The contract for difference (CFD) sales were reported at 171 GWh, which is up by the pcp sales of 101 GWh.
The net movement of gas storage was reported nil for the period, whereas injection of 0.5 PJ was witnessed in pcp.
On 11th February 2019, the company released its 1HFY19 result and reported EBITDAF from continuing operations standing at $61 million.
The market capitalisation of the company is A$4.95 billion. The stock has 52-week high and low of A$6.97 and A$4.95, respectively. The stock was trading at A$6.910, at an intraday high of A$6.92, as of 17th May 2019 (AEST: 02.13 PM). The last one-year return of the stock is 33.9%, and the YTD return stands at 22.5%.