Contact Energy (NZX:CEN) releases operating report for August 2021

Highlights

  • Contact Energy posted mass market electricity and gas sales of 436 GWh in August 2021.
  • Electricity and steam net revenue of its wholesale business rose to NZ$110.57/MWh from NZ$90.37/MWh on pcp.

Contact Energy Limited (NZX:CEN;ASX:CEN) is the largest energy company of NZ that is privately owned. The Company released operating report for August 2021 on Thursday. The Group revealed that its customer business recorded mass market electricity and gas sales of 436 GWh in August this year compared to 450 GWh in August 2020.

Source: Copyright © 2021 Kalkine Media

Some of the highlights of Contact’s wholesale business operations for the month of August included of the following:

  • Contracted wholesale electricity sales, as well as that offered/sold to the customer company, equaled to 758GWh in August, down from 783 GWh in August 2020.
  • Electricity and steam net revenue stood at NZ$110.57/MWh, up from NZ$90.37/MWh on pcp.
  • Electricity generated was 795 GWh, up from 897 GWh on pcp.
  • Unit generation cost that also includes acquired generation stood at NZ$34.92/MWh, down from NZ$39.81/MWh on pcp.

As of 9 September 2021, the Group revealed that South Island controlled storage stood at 138% of mean, while North Island controlled storage stood at 83% of mean.

RELATED READ: Contact Energy (NZX:CEN): Is the Company gaining profit amid rising electricity prices?

Contact Chair Rob McDonald, commenting on the Group’s performance in FY21, stated that the Group surpassed expectations after tackling short-term issues around low rainfall in hydro catchments, leaving of major energy users and handling reliable gas supply obstacles.

Bottom Line

The Company is leading in delivering on emissions reduction and recognizes the significant role to be played by the electricity sector in this.

Comment


Disclaimer

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK