Contact Energy posts higher sales and lower costs in February 2026 report

Contact Energy saw higher electricity and gas sales, reduced generation costs, and progress on renewables projects in February 2026.

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

Published March 18, 8:29 am AEDT

The Contact Energy Ltd (ASX: CEN) share price is in focus after the company posted higher mass market electricity and gas sales and reported lower generation costs for February 2026.

A businessman presents a company annual report in front of a group seated at a table — Image source: Getty Images

What did Contact Energy report?

Mass market electricity and gas sales rose to 295GWh (Feb 2025: 237GWh)
Average customer netback held steady at $160.23/MWh (Feb 2025: $159.57/MWh)
Contracted wholesale electricity sales reached 816GWh (Feb 2025: 632GWh)
Unit generation cost dropped to $41.70/MWh (Feb 2025: $70.95/MWh)
Electricity generated (or acquired) totalled 809GWh (Feb 2025: 675GWh)
Average electricity sales price rose to $380.72/MWh (Feb 2025: $341.24/MWh)

What else do investors need to know?

Contact Energy's wholesale business saw a notable fall in unit generation costs and higher electricity sales, which points to improving operational efficiency. However, electricity and steam net revenue per megawatt hour declined to $122.35 from $133.15 a year ago, reflecting some pricing or mix changes.

Hydro storage on 16 March 2026 was healthy, with South Island at 98% and North Island at 164% of mean levels. February 2026 inflows into the Clutha catchment, though, were 73% of the mean, following strong inflows in previous months.

Contact is progressing with three major renewable projects, including Glenbrook-Ohurua Battery (Q1 CY26), Kōwhai Park Solar (Q2 CY26), and Te Mihi Stage 2 geothermal (Q3 CY27).

What's next for Contact Energy?

Contact Energy is firmly focused on expansion and transition to renewables, with several large projects under construction and over $1 billion invested in new solar, battery, and geothermal facilities through 2027.

Equity analysts' FY26 EBITDAF forecasts have been summarised, with consensus in the $965 million to $995 million range, depending on Manawa integration costs. The company is not endorsing individual forecasts.

Contact Energy share price snapshot

Over the past 12 months, Contact Energy shares have declined 4%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 10% over the same period.

View Original Announcement

Automatic Renewal

By taking up this offer, you will also be enrolled in our auto-renewal program, which is our way of making your ongoing subscription easier by ensuring uninterrupted service. Don't worry, though – you're not locked in, and can cancel your auto-renewal at any time before each 'anniversary' date without question or penalty.