OPERATIONAL PERFORMANCE FOR THE 9 MONTHS ENDED 31 MARCH

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
9 MONTHS ENDED 31 MARCH 2021


Operational performance highlights:

• 588,018 electricity network connections, up 1.7% on March 2020
• 116,014 gas network connections, up 2.1% on March 2020
• 8.7% growth of advanced meter fleet since 31 March 2020 (total of 1,822,510 now
installed across Aus/NZ)
• More than 360,000 advanced meters now installed in Australian market
Commentary:

The nine months to 31 March 2021 have seen Auckland’s growth continue, in turn driving
strong network connection numbers across Vector’s electricity and gas networks. In the year
to 31 March 2021, total electricity connection numbers grew by 1.7% compared to a year
earlier. Electricity volume for the nine-month period was down 1.6% compared with the
same period to 31 March 2020, driven by reduced activity from the industrial and commercial
sectors due to COVID-19.

Auckland’s continuing growth helped drive an uplift in gas distribution network customers,
with a 2.1% increase in total connections compared to 31 March 2020. Gas distribution
volume over the nine months was down 2.8% compared with the corresponding period in the
prior year, again driven by reduced activity from the industrial and commercial sectors due to
COVID-19.

Vector’s metering business continues to perform in an increasingly competitive market both
here and in Australia. Advanced meter numbers increased by 8.7% on March 2020, with a
total fleet of 1,822,510. We have now installed more than 360,000 advanced meters in
Australia.

BottleSwap has seen a 2.1% decrease in the number of 9kg bottles swapped in the nine
months compared with the prior period to 31 March 2020. This was driven by a significant
spike in demand at the start of the COVID-19 alert level 4 lockdown in late March 2020.

Natural gas, LPG volumes and Liquigas LPG tolling are down on the March 2020 comparative
period, with the 35.3% reduction in natural gas volumes driven primarily by the loss of a large
customer in January 2020.

On 31 March 2020, Vector 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 LPG 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.

market release
23 April 2021

creating a new energy future


market release
23 April 2021
SAIDI minutes for the twelve months ended 31 March 2021 are 21.5% lower than the
previous year which is primarily due to significant initiatives to improve network resilience
despite ongoing challenges caused by weather events, traffic congestion and vegetation.

COVID-19 has impacted Vector’s business operations during the nine months to 31 March
2021, with New Zealand at alert level 2 and Auckland at level 3 for much of the first quarter
as well as for shorter periods in the third quarter. In Australia, our teams have also been
impacted by various levels of Government restrictions throughout the period. As a lifeline
utility, Vector has continued to operate essential services during this period across its
electricity, gas, fibre and metering businesses.


9 Months ended 31
March


2021 2020 % change
Electricity
Customers
1, 5
588,018 578,106 1.7%
New connections
Net movement in customers
2

10,990
7,958
9,367
6,981
17.3%
14.0%
Volume distributed (GWh)

6,195 6,296 (1.6%)
SAIDI (minutes) – 12 months to 31 March
3

Normal operations – unplanned
Normal operations - planned
86.5
4
47.5
4

116.7
50.8
(25.9%)
(6.5%)
Major network events 0.0 3.0 N/A
Total 133.9 170.5 (21.5%)

Gas Distribution
Customers
1,5
116,014 113,578 2.1%
New connections
Net movement in customers
2

2,932
2,054
2,647
1,936
10.8%
6.1%
Distribution volume (PJ)

10.5 10.8 (2.8%)

Gas Trading
Natural gas sales (PJ)
6
6.6 10.2 (35.3%)
LPG volumes (tonnes)
7
32,539 33,392 (2.6%)
9kg LPG bottles swapped
8

Liquigas LPG tolling (tonnes)
9

530,348
76,934
541,588
86,393
(2.1%)
(10.9%)

Metering
Electricity: advanced meters
1, 10
1,822,510 1,677,405 8.7%

creating a new energy future


market release
23 April 2021


1. As at 31 March.
2. Net number of customers added during the period, includes disconnected, reconnected
and decommissioned ICPs.
3. SAIDI (minutes) for the 12 months ended 31 March 2021 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.
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 LPG 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 31 March 2021 includes 175,058 meters managed
but not owned by Vector (31 March 2020: 167,165).
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
Jane Luscombe, GM, Public Relations and Communications, Vector
Jane.luscombe@vector.co.nz, 021 767 970


About Vector
Vector is an innovative New Zealand energy company which runs a portfolio of businesses
delivering energy and communication services to more than one million homes and
commercial customers across Australasia, and the Pacific. Vector is leading the country in
creating a new energy future through its Symphony strategy which puts customers at the
heart of the energy system. 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