Contact Energy, an ASX-listed company operating across New Zealand, specialising in electricity generation, retail services, and wholesale energy trading, has released its Monthly Operating Report for July 2026. The report highlighted increased operational performance, with growth in mass market and contracted wholesale electricity sales, along with improved generation efficiency and reduced costs for the period.
For July 2026, the Customer business recorded mass market electricity and gas sales of 579GWh, a notable increase from 456GWh in July 2025. Customer netback saw a minor dip to $147.19/MWh from $148.69/MWh year-on-year. The Wholesale business reported contracted electricity sales totalling 1,079GWh, up from 987GWh in the prior year, with electricity and steam net revenue edging up to $179.17/MWh. Electricity generated or acquired by Contact Energy reached 1,168GWh, an increase from 1,040GWh. Importantly, the unit generation cost, including acquired generation, significantly dropped to $36.99/MWh from $47.40/MWh, while own generation costs also decreased to $27.11/MWh.
The report also provided insights into New Zealand’s hydro storage levels, with South Island controlled storage at 137% of the mean and North Island at 85% as at August 11, 2026. Inflows into Contact’s Clutha catchment for July 2026 were strong at 132% of the mean. Wholesale market futures saw the Otahuhu Q4 2026 settlement price rise to $73/MWh on August 11, 2026, from $51/MWh at July 31, 2026. Contact Energy continues work on key renewable development projects, including Kōwhai Park Solar and Te Mihi Stage 2 geothermal, with anticipated online dates extending through to 2028. Total New Zealand electricity demand was up 1.9% on July 2025.
