The Contact Energy Ltd (ASX: CEN) share price is on investors' radar after the company posted higher electricity and gas sales for June 2026, along with ongoing progress on major renewable energy projects.
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What did Contact Energy report?
- Mass market electricity and gas sales reached 495 GWh in June 2026, up from 410 GWh last year
- Contracted wholesale electricity sales totalled 1,056 GWh (June 2025: 810 GWh)
- Electricity and steam net revenue was $175.68/MWh, compared to $186.08/MWh in June 2025
- Electricity generated (or acquired) increased to 1,101 GWh (June 2025: 846 GWh)
- Unit generation cost, including acquired generation, dropped to $38.16/MWh from $54.27/MWh
- Retail netback decreased slightly, to $141.18/MWh from $146.32/MWh
What else do investors need to know?
Contact Energy is progressing with several renewable energy developments, including the Kōwhai Park Solar, Te Mihi Stage 2 geothermal, Glenbrook-Ohurua Battery 2, and Glorit Solar, with a combined approved cost of over $1.5 billion and staggered completion dates out to 2028.
Hydro storage levels were well above average as of mid-July 2026, with the South Island at 145% and the North Island at 123% of mean levels. The Clutha catchment saw strong inflows, supporting overall storage and generation options.
New Zealand's electricity demand remained broadly steady, down 0.04% on June 2025, but up 1.1% versus June 2024, during what was the warmest June on record.
What's next for Contact Energy?
Contact Energy is maintaining its focus on expanding renewable energy, reducing unit generation costs, and delivering reliable energy for customers. Upcoming project completions, especially in solar and battery storage, are poised to increase renewable supply in the next few years.
The company's continued investments in sustainability, along with a healthy pipeline of projects, underline its commitment to low-carbon generation and growing market share in a stable demand environment.
Contact Energy share price snapshot
Over the past 12 months, Contact Energy shares have declined 6%, trailing the S&P/ASX 200 Index (ASX: XJO), which has risen 1% over the same period.
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.
