OPERATIONAL PERFORMANCE FOR THE 3 MONTHS ENDED 30 SEPTEMBER

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE 3 MONTHS ENDED 30 SEPTEMBER
2020

Operational performance highlights:
• 582,990 electricity network connections, up 1.7% on September 2019
• 114,584 gas network connections, up 2.0% on September 2019
• 7.0% lift in 9kg LPG bottle swaps
• 9.2% growth of advanced meter fleet (1,746,990 installed across Aus/NZ)
• Over 300,000 advanced meters now installed in Australian market
Commentary:
Covid-19 has continued to impact Vector’s business operations during the September quarter,
with New Zealand at alert level 2 and Auckland at alert level 3 for much of the quarter. In
Australia, our teams have also been impacted by various levels of Government restrictions. As
a lifeline utility, Vector has continued to operate essential services during this period across its
electricity, gas, fibre and metering businesses.

The first quarter has seen Auckland’s growth continue, in turn driving strong network
connection numbers across Vector’s electricity and gas networks. In the year to 30
September, total electricity connection numbers grew by 1.7% compared to a year earlier.
Electricity distributed volume for the quarter was down 0.6% on the prior September quarter,
driven by reduced activity from the industrial and commercial sectors due to COVID-19.

Auckland’s continuing growth helped drive an uplift in gas network distribution customers, with
a 2.0% increase in total connections compared to September 2019. Gas distribution volume
over the September quarter was slightly down compared with the prior year.

Vector’s metering business continues to perform in an increasingly competitive market both
here and in Australia. Connection numbers increased by 9.2% on September 2019, with a total
fleet of 1,746,990. We have now installed over 300,000 advanced meters in Australia.

BottleSwap has seen a 7.0% increase in the number of 9kg bottles swapped in the quarter
compared with the September 2019 quarter.

Natural gas, gas liquids and Liquigas LPG tolling are down on the September 2019 quarter,
with the reduction in natural gas volumes driven primarily by the loss of a large customer in
January 2020.

On 31 March 2020, the group completed the sale of its interests in the Kapuni Gas Treatment
Plant (KGTP) and co-generation facility. As a result of the sale of KGTP we have changed the
methodology of calculating liquids volumes to reflect continuing activities only. LPG volumes
include LPG sold by the group’s OnGas business. LPG and Natural Gasoline sold by KGTP
have been excluded as the plant is no longer owned. Comparatives have been restated.

SAIDI minutes for the six months ended 30 September 2020 are 25.8% lower than the
comparable period which is primarily due to fewer extreme weather events, network
investments to improve resilience and ongoing initiatives to reduce impact on customers.
market release
21 October 2020

creating a new energy future


market release
21 October 2020


3 months ended 30
September


2020 2019 % change
Electricity
Customers
1, 5
582,990 573,522 1.7%
New connections
Net movement in customers
2

3,839
2,930
3,214
2,397
19.4%
22.2%
Volume distributed (GWh)

2,348 2,363 (0.6%)
SAIDI (minutes) – 6 months to 30 September
3

Normal operations – unplanned
Normal operations - planned
48.0
4
22.6
68.6
23.6
(30.0%)
(4.2%)
Major network events 0.0 3.0 N/A
Total 70.6 95.2 (25.8%)

Gas Distribution
Customers
1,5
114,584 112,316 2.0%
New connections
Net movement in customers
2

959
624
832
674
15.3%
(7.4%)
Distribution volume (PJ)

4.3 4.4 (2.3%)

Gas Trading
Natural gas sales (PJ)
6
2.8 4.3 (34.9%)
Gas liquid sales (tonnes)
7
13,000 13,158 (1.2%)
9kg LPG bottles swapped
8

Liquigas LPG tolling (tonnes)
9

176,494
30,677
164,927
31,361
7.0%
(2.2%)

Metering
Electricity: advanced meters
1, 10
1,746,990 1,599,717 9.2%


1. As at 30 September.
2. Net number of customers added during the period, includes disconnected, reconnected
and decommissioned ICPs.
3. SAIDI (minutes) for the 6 months ended 30 September 2020 is an unaudited value and
subject to change.
4. SAIDI in relation to normal operations and major network events has been updated in
accordance with the DPP3 regulatory guidelines.
5. Billable ICPs.

creating a new energy future


market release
21 October 2020
6. Excludes gas sold as gas liquids.
7. The group completed the sale of its interests in the Kapuni Gas Treatment Plant (KGTP)
and co-generation facility on 31 March 2020. As a result, we have changed the
methodology of calculating liquids volumes to reflect continuing activities only. LPG
volumes include LPG sold by the OnGas business. LPG and Natural Gasoline sold by
KGTP is now excluded. Comparatives have been restated to reflect this.
8. Number of 9kg LPG bottles swapped and sold during the year.
9. The group has revised the methodology for Liquigas LPG tolling to reflect new
contractual terms and calculates product tolling domestic and exports. Product further
tolled in South Island has been removed.
10. The number of advanced meters as at 30 September 2020 includes 170,861 meters
managed but not owned by Vector (30 September 2019: 160,389).
The Excel version can be found at: http://vector.co.nz/news


ENDS

Investor contact
Jason Hollingworth, Chief Financial Officer, Vector
jason.hollingworth@vector.co.nz, 021 312 928

Media contact
Rachel Reynolds, Senior Communications Partner
Rachel.reynolds@vector.co.nz 021 419 501

About Vector
Vector is New Zealand’s leading network infrastructure company which runs a portfolio of
businesses delivering energy and communication services to more than one million homes
and commercial customers across the country. Vector is leading the country in creating a new
energy future for customers and continues to grow and invest in the growth of Auckland, and
in a wide range of activities and locations. Vector is listed on the New Zealand Stock Exchange
with ticker symbol VCT. Our majority shareholder, with voting rights of 75.1%, is Entrust. For
further information, visit www.vector.co.nz