The Contact Energy Ltd (ASX: CEN) share price is in focus as the company delivered solid growth in both customer and wholesale electricity sales for April 2026, with mass market electricity and gas sales up to 372GWh from 284GWh a year ago, and wholesale contract volumes rising noticeably.
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What did Contact Energy report?
- Mass market electricity and gas sales jumped to 372GWh (April 2025: 284GWh)
- Customer netback increased to $153.24/MWh (April 2025: $148.59/MWh)
- Contracted wholesale electricity sales rose to 898GWh (April 2025: 655GWh)
- Electricity and steam net revenue was $148.95/MWh (April 2025: $146.59/MWh)
- Unit generation cost decreased to $44.95/MWh (April 2025: $49.48/MWh)
- Electricity generated or acquired grew to 962GWh (April 2025: 722GWh)
What else do investors need to know?
Otahuhu's ASX futures settlement price for Q3 2026 stood at $144/MWh as at 30 April, down from $189/MWh at 31 March. This highlights some recent wholesale price pressure, although market storage levels are robust, with South Island and North Island controlled storage at 107% and 179% of mean respectively as of mid-May.
Progress continues on Contact's renewables pipeline, including the Kōwhai Park Solar project (expected online Q3 CY2026), Te Mihi Stage 2 geothermal (Q3 CY2027), and the Glenbrook-Ohurua Battery (Q1 CY2028). Contracted gas volumes for the next 12 months are 8.7PJ, providing supply flexibility.
New Zealand's total electricity demand rose 3.6% year-on-year for April, aided by warmer temperatures and ongoing population growth. Retail customer connections edged up, with electricity and gas accounts reaching approximately 460,000 and 78,000 respectively.
What's next for Contact Energy?
Contact Energy is ramping up its focus on renewable energy development, with several major projects scheduled for completion in the coming years. This investment supports Contact's aim to lower generation costs and provide more sustainable options to customers.
Storage levels are currently above long-term averages, positioning the company well for winter and allowing for flexibility in managing energy supply and market risk. Watch for updates on project milestones and evolving wholesale price trends in the months ahead.
Contact Energy share price snapshot
Over the past 12 months, Contact Energy shares have declined 5%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.
