Contact Energy (ASX: CEN), a leading New Zealand energy company generating electricity from geothermal, hydro, and thermal sources and retailing electricity, gas, and broadband services, has released its Monthly Operating Report for March 2026. The report details robust operational performance across its customer and wholesale segments, marked by increased sales volumes and significant progress in its renewable development pipeline. A key highlight was the successful commissioning of its Glenbrook-Ohurua Battery 1 project.
In the customer business, mass market electricity and gas sales rose to 359 GWh for March 2026, a notable increase from 282 GWh recorded in March 2025. The mass market netback for the month was $172.45/MWh. The wholesale business also experienced substantial growth, with contracted wholesale electricity sales, including those to the customer segment, totalling 903 GWh, up from 701 GWh in the prior corresponding period. The wholesale segment achieved an electricity and steam net revenue of $130.99/MWh.
The company’s generation profile saw electricity generated or acquired reach 925 GWh, compared to 767 GWh in March 2025. This was supported by a reduction in unit generation cost, which fell to $56.24/MWh from $70.12/MWh a year earlier, with own generation cost significantly dropping to $35.3/MWh. Hydro storage levels remained favourable, with South Island controlled storage at 99% of mean and North Island controlled storage at 182% of mean as of April 14, 2026. Contact Energy’s Glenbrook-Ohurua Battery 1 facility successfully came online, with final commissioning activities completed during March. Additionally, construction continues on Kōwhai Park Solar, Te Mihi Stage 2 geothermal, and Glenbrook-Ohurua Battery 2.
