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Contact Energy earnings: September 2025 results snapshot

Contact Energy saw higher netbacks and strong renewable progress in September 2025, even as sales volumes eased.

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Laura Stewart
Author bio Laura Stewart is a Finance Editor at The Motley Fool, where she covers Australian and international equity markets. She joined the company in 2022, following a career transition from legal advisory work in Southeast Asia into the investment industry. Prior to her current editorial role, Laura spent three years as an Equity Analyst and Writer, producing investment research across the ASX, NYSE, and NASDAQ. Her coverage included small-cap growth companies, thematic investment ideas, and high-quality U.S.-listed businesses. Laura holds a Master of Applied Finance and brings additional expertise in accounting, taxation, and estate and wealth planning from her postgraduate studies. She also has a background in law and communications, which supports her analytical and reporting work in financial markets. Outside of work, she enjoys spending time in the Adelaide Hills with her flock of sheep. Education Laura holds a Bachelor of Laws, a Bachelor of Communication (Journalism), and a Bachelor of Commerce with majors in Accounting and Corporate Finance. In 2025, she completed a Master of Applied Finance at the University of Adelaide, receiving postgraduate awards in Accounting Concepts & Methods, Ethical Principles in Accounting & Finance, Real Estate Valuation & Investment, and Tax, Estate & Wealth Planning. Social media LinkedIn FYI – I am taking a break from social media at the moment, so this account isn’t active at the moment, but I will let you know when I rejoin. Favorite investment quote "Compound interest is the eighth wonder of the world. He who understands it, earns it... he who doesn't... pays it." — Albert Einstein
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Key points
  • Contact Energy reported a slight decrease in mass market electricity and gas sales to 372GWh in September 2025, but increased the average mass market netback to $150.12/MWh, up from $130.58/MWh in the previous year.
  • The company is advancing its integration with Manawa Energy and progressing its renewable development pipeline, including several key projects expected to come online by 2027.
  • Looking forward, Contact Energy focuses on enhancing transparency with combined performance reporting and continues investing in renewable energy projects to support New Zealand’s low-carbon energy transition.

The Contact Energy Ltd (ASX: CEN) share price is in focus as the company released its September 2025 monthly operating report, showing mass market electricity and gas sales were 372GWh, just below last year's 389GWh. The average mass market netback improved to $150.12/MWh compared to $130.58/MWh in September 2024.

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What did Contact Energy report?

  • Mass market electricity and gas sales: 372GWh (September 2024: 389GWh)
  • Mass market netback: $150.12/MWh (September 2024: $130.58/MWh)
  • Wholesale contracted electricity sales: 736GWh (September 2024: 814GWh)
  • Electricity and steam net revenue: $168.78/MWh (September 2024: $174.51/MWh)
  • Electricity generated (or acquired): 820GWh (September 2024: 859GWh)
  • Unit generation cost (including acquired generation): $35.77/MWh (September 2024: $52.04/MWh)

What else do investors need to know?

Contact's integration of Manawa Energy is progressing, and future reports will reflect combined results. The company's renewable development pipeline remains active, with projects including the Glenbrook-Ohurua BESS, Kowhai Park Solar, and Te Mihi Stage 2 geothermal expected to progressively come online through to 2027.

Hydro storage levels in both the South and North Islands are strong, sitting above 115% of historical averages. Nationwide electricity demand climbed 6.5% year on year in September.

What's next for Contact Energy?

Contact Energy continues to focus on delivering its portfolio of renewable energy projects and integrating the recently acquired Manawa Energy operations. The company aims to provide more combined performance data in future reports, which should add transparency for investors.

Ongoing investment in renewable assets and disciplined cost management remain central to the company's growth plans, positioning Contact to support New Zealand's transition to low-carbon energy.

Contact Energy share price snapshot

Contact Energy shares have risen 2% in the past year, trailing the S&P/ASX 200 Index (ASX: XJO) which has increased 8% over the same period.

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Motley Fool contributor Laura Stewart 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. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

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