Lines costs forecast to increase

29 May 2024 Lines costs forecast to increase This morning the Commerce Commission released draft decisions on the price-quality paths for electricity distribution businesses and Transpower for 2025-2030. The draft decisions signal significant increases in allowable revenue of around 24% for electricity distribution businesses and 15% for Transpower in the first regulatory year. If finalised consistent with the draft decisions, the Commission estimates the transmission and distribution component of a household’s electricity bill will increase, on average, by $15 per month for affected networks. This represents an additional $180 per year on average across most of New Zealand. Further information on these draft decisions can be found on the Commerce Commission’s website here. Final decisions are expected on 29 November 2024, with the new network charges coming into effect on 1 April 2025. - ends - Investor enquiries Shelley Hollingsworth Investor Relations and Strategy Manager +64 27 227 2429 shelley.hollingsworth@contactenergy.co.nz Media enquiries Louise Wright Head of Communications and Reputation +64 21 840 313 louise.wright@contactenergy.co.nz