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18/5/2018 — General
Contact hones its cost of energy

In April, Contact Energy Ltd (NZX & ASX: CEN) recorded electricity and gas sales of 609 GWh, down slightly on April the year before.

The Netback for April was $90.22/MWh (April 2017: $85.05/MWh) and the cost of energy was $16.21/MWh (April 2017: $28.36/MWh).

As at May 15, South Island controlled storage was 123% of mean (March 31, 2018: 118%) and North Island controlled storage was 136% of mean (March 31: 129%).

At May 15, total Clutha scheme storage (including uncontrolled storage) was 79% of mean, while Inflows into Contact’s Clutha catchment for March were at 117% of mean.

The April report confirmed Contact had signed a financial contract with Meridian Energy to supply a portion of the additional 50 MW that will be sold to New Zealand Aluminium Smelters (NZAS) – New Zealand’s biggest energy consumer.

The contract will facilitate additional production at Tiwai Point in Southland, with NZAS starting up a fourth potline at the smelter.

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