Sydney, Oct 31, 2005 AEST (ABN Newswire) - Origin Energy (ASX: ORG) The average wholesale electricity price received by Contact's generation was $72.14 per MWh over the quarter ended 30 September 2005(1). This was in contrast to the same period ended 30 September 2004, where the average price received by Contact was $28.77 per MWh.
National hydro inflows were 97% of mean during the period and national hydro storage was 98% of mean at the end of the period, recovering from much lower levels late in the quarter (2). This compares to the September quarter of 2004 when hydro inflows were 102% of mean and national hydro storage levels were 100% of mean.
Contact's total generation for the quarter ended 30 September 2005 was 2,980GWh which was 20% higher than total generation for the period ended 30 September 2004 when it was 2,479GWh.
The mix of generation was also different during the 30 September 2005 quarter as thermal generation levels were 1,751GWh, 83% higher than the same period in 2004. Higher thermal generation levels were attained in response to the significant increase in average wholesale electricity prices compared to the same period in 2004. This has flow on implications for the level of wholesale electricity revenue and gas purchase and transmission costs, which were both higher over the period.
Hydro generation levels were 780GWh for the period ended 30 September 2005 compared to 1,064GWh in the period ended 30 September 2004, reflecting lower inflows into the Clutha catchment.
Electricity customer numbers, as at 30 September 2005, were 513,000. This is the same level as reported at 30 June 2005. Gas customer numbers declined from 85,000 at 30 June 2005 to 83,000 at 30 September 2005.
Contract take over of the Wairakei Binary plant occurred on 17 August 2005. Commissioning and performance testing of the plant is substantially complete confirming the plant's nominal capacity is 16MW.
Three out of the four production wells at the Te Mihi geothermal field in Taupo have been successfully drilled. Testing is in process but at this stage looks likely to exceed the business case of 18MW of steam capacity to fuel Wairakei and Poihipi stations. The first well has been put into production at approximately 10MW. Wairakei is expected to be at full production by the end of October with the connection of the second well.
The new production well at Tauhara has been successfully drilled. This well, together with an existing well, will be used to supply approximately 20MW of direct heat to the nearby Tenon mill.
The drilling rig will now move to Ohaaki to commence drilling at the end of October/early November.
Otahuhu B power station is scheduled to be out of service for a major maintenance outage from midnight on 28 October until midnight on 22 December. Upgrades installed during the outage are expected to achieve an increase in output of 12MW and efficiency improvements of up to 2%.
Sale of Contact's 40% interest in Valley Power peaking station was completed.
(1) This price excludes contracts for differences.
(2) Based on company data.
Operational data
Thermal generation
Quarter ended 30 September 2005 1,751GWh
Quarter ended 30 September 2004 958GWh
Geothermal generation
Quarter ended 30 September 2005 449GWh
Quarter ended 30 September 2004 457GWh
Hydro generation
Quarter ended 30 September 2005 780GWh
Quarter ended 30 September 2004 1,064GWh
Total generation
Quarter ended 30 September 2005 2,980GWh
Quarter ended 30 September 2004 2,479GWh
Retail sales
Quarter ended 30 September 2005 2,019GWh
Quarter ended 30 September 2004 2,033GWh
Average wholesale electricity price(3)
Quarter ended 30 September 2005 $72.14MWh
Quarter ended 30 September 2004 $28.77MWh
Average energy purchase cost
Quarter ended 30 September 2005 $77.58MWh
Quarter ended 30 September 2004 $31.06MWh
Electricity customer numbers
Quarter ended 30 September 2005 513,000
Quarter ended 30 September 2004 508,000
Gas used in internal generation
Quarter ended 30 September 2005 13.8PJ
Quarter ended 30 September 2004 7.8PJ
Retail gas sales
Quarter ended 30 September 2005 2.6PJ
Quarter ended 30 September 2004 3.2PJ
Wholesale gas sales
Quarter ended 30 September 2005 3.1PJ
Quarter ended 30 September 2004 3.4PJ
Gas customer numbers
Quarter ended 30 September 2005 83,000
Quarter ended 30 September 2004 90,000
(3)This price excludes contracts for differences
Contact
Pattrick Smellie
Corporate Communications Manager
Contact Energy
0011 64 4 462 1189
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