Contact Energy (ASX:CEN) Releases June 2025 Operating Report
Customer and Wholesale Business Performance
Contact Energy’s Customer business recorded mass market electricity and gas sales of 410 GWh in June 2025, slightly down from 416 GWh in June 2024. The mass market netback increased to $146.32/MWh compared to $126.34/MWh a year earlier. The Wholesale business reported contracted wholesale electricity sales of 810 GWh, up from 795 GWh in June 2024. Electricity and steam net revenue rose to $186.08/MWh from $167.12/MWh.
Generation and Costs
Electricity generated or acquired totaled 846 GWh, marginally higher than June 2024’s 842 GWh. The unit generation cost, including acquired generation, was $54.27/MWh, slightly down from $54.53/MWh a year earlier. The cost of own generation for the month increased to $47.3/MWh from $42.1/MWh in June 2024.
Market and Storage Updates
The Otahuhu futures settlement wholesale price for Q4 2025 was $138.3/MWh as of 15 July 2025, up from $133.05/MWh on 30 June 2025 and $137.35/MWh on 30 May 2025. South Island controlled storage was at 95% of the mean, and North Island controlled storage was at 148% of the mean as of 14 July 2025. Total Clutha scheme storage was 105% of the mean.
Inflows and Gas Contracts
Inflows into Contact’s Clutha catchment for June 2025 were 84% of the mean. Contact Energy’s contracted gas volume, including swaps, for the next 12 months stands at 7.5 PJ.
Renewable Development Projects
Contact Energy is advancing renewable development projects under construction, including Glenbrook BESS with an expected online date in Q1 CY26 at a cost of $163 million, Kowhai Park Solar expected in Q2 CY26 at $273 million, and Te Mihi Stage 2 Geothermal expected in Q3 CY27 at $712 million. These projects are being delivered through Contact Energy’s 50/50 Joint Venture with Lightsource bp.
Environmental, Social and Governance (ESG)
In Q4 FY25, Contact Energy reported greenhouse gas emissions of 190 kt CO₂-e from generation assets. Freshwater taken for operations was 0.55 million cubic metres. The company planted 14,303 native rākau and caught 1,395 pests. Contact Energy supports 26 community initiatives and organisations. The gender balance of employees stands at 46% for women and 52% for men.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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