Contact Energy (ASX: CEN), a prominent New Zealand electricity generator and retailer, today released its June 2026 monthly operating report. The company provides electricity, gas, and broadband services to a wide customer base across the North and South Islands. For its Customer business, mass market electricity and gas sales reached 495GWh in June 2026, an increase from 410GWh in the same period last year. However, the mass market netback experienced a slight decrease, settling at $141.18/MWh compared to $146.32/MWh in June 2025.
The Wholesale business saw significant growth in contracted electricity sales, including volumes sold to the Customer business, totalling 1,056GWh for the month, up from 810GWh in June 2025. Electricity generated or acquired also rose to 1,101GWh from 846GWh year-on-year. While electricity and steam net revenue was $175.68/MWh, a reduction from $186.08/MWh in June 2025, the unit generation cost, which includes acquired generation, improved substantially to $38.16/MWh from $54.27/MWh.
Market conditions showed a notable shift in the Otahuhu futures settlement wholesale price for the fourth quarter of 2026 (ASX), declining from $62.6/MWh as at 30 June 2026 to $45.55/MWh as at 17 July 2026. Hydro storage levels remained robust as of 16 July 2026, with South Island controlled storage at 145% of mean and North Island controlled storage at 123% of mean. Total Clutha scheme storage was reported at 147% of mean, and inflows into Contact’s Clutha catchment for June 2026 were strong at 171% of mean.
Contact Energy also detailed its renewable development projects currently under construction. These include Kowhai Park Solar ($273m, expected online Q3-CY26), Te Mihi Stage 2 geothermal ($712m, expected online Q3-CY27), Glenbrook-Ohurua Battery 2 ($235m, expected online Q1-CY28), and Glorit Solar ($316m, expected online Q4-CY28). The company’s contracted gas volume for the next 12 months stands at 7.8PJ.
