Contact Energy (ASX: $CEN) June 2024 Operating Report Overview

Contact Energy (ASX: $CEN) has released its monthly operating report for June 2024. The report highlights key performance indicators across its Customer and Wholesale businesses. In June 2024, the mass market electricity and gas sales for the Customer business totaled 421GWh, while the Wholesale business recorded contracted wholesale electricity sales of 799GWh. The progress of the Te Huka 3 project was reported at 89% against the target of 91%, with steamfield commissioning activity underway. Additionally, the report provided insights into the Otahuhu futures settlement wholesale prices and the hydro storage levels as of 15th July 2024.

Executive Commentary on Operating Results

The progress of our Te Huka 3 project remains on track, with the steamfield commissioning activity currently underway. We are committed to delivering on our targets and ensuring the successful completion of this significant project. The disclosed wholesale prices and hydro storage levels reflect the dynamic nature of the energy market, and we continue to monitor these factors closely to make informed business decisions.

Summary of June 2024 Operating Report and Outlook

Contact Energy's June 2024 operating report demonstrates the company's performance across its Customer and Wholesale businesses. The progress of the Te Huka 3 project, although slightly below the target, indicates steady advancement. The disclosed wholesale prices and hydro storage levels provide insights into the market conditions and the company's operational environment. Looking ahead, Contact Energy remains focused on achieving its operational targets, closely monitoring market dynamics, and delivering on its commitments to stakeholders and investors.