OPERATIONAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2021

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
YEAR ENDED 30 JUNE 2021


Operational performance highlights:

• 590,799 electricity network connections, up 1.9% on June 2020
• 116,472 gas network connections, up 2.2% on June 2020
• 8.8% growth of advanced meter fleet since 30 June 2020 (total of 1,864,724 now
installed across Aus/NZ)
• Over 395,000 advanced meters now installed in Australian market
Commentary:

The year to 30 June 2021 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
June 2021, total electricity connection numbers grew by 1.9% compared to a year earlier.
Electricity distributed volume for the year was up 0.1% compared with the year ended 30
June 2020.

Auckland’s continuing growth helped drive an uplift in gas distribution network customers,
with a 2.2% increase in total connections compared to 30 June 2020. Gas distribution
volume for the year was down 1.4% compared with 2020, 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. Connection numbers increased by 8.8% on June 2020, with a total
fleet of 1,864,724. We have now installed more than 395,000 advanced meters in Australia.

BottleSwap has seen a 3.1% decrease in the number of 9kg bottles swapped in the year to
30 June 2021 compared with the prior year. This was driven by a significant spike in demand
at the start of the COVID-19 Level 4 lockdown in late March 2020.

Natural gas volumes and Liquigas LPG tolling are down on the June 2020 comparative year,
with the 30.6% 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 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.

SAIDI minutes for the three months ended 30 June 2021 are slightly unfavourable compared
to the same period last year but still within the year-to-date regulatory threshold and notably
favourable compared to earlier years.

market release
21 July 2021

creating a new energy future


market release
21 July 2021

COVID-19 has impacted Vector’s business operations during the year ended 30 June 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. As a lifeline utility, Vector has continued to
operate essential services during this period across its electricity, gas, fibre and metering
businesses.


Year ended 30 June

2021 2020 % change
Electricity
Customers
1, 5
590,799 580,060 1.9%
New connections
Net movement in customers
2

14,995
10,739
12,231
8,935
22.6%
20.2%
Volume distributed (GWh)

8,325 8,315 0.1%
SAIDI (minutes) – 3 months to 30 June
3

Normal operations – unplanned
Normal operations - planned
21.3
4
11.6
4

20.0
7.1
6.50%
63.4%
Major network events 0.0 0.0 N/A
Total 32.9 27.1 21.4%

Gas Distribution
Customers
1,5
116,472 113,960 2.2%
New connections
Net movement in customers
2

3,844
2,512
3,201
2,318
20.1%
8.4%
Distribution volume (PJ)

14.1 14.3 (1.4%)

Gas Trading
Natural gas sales (PJ)
6
8.6 12.4 (30.6%)
LPG volumes (tonnes)
7
45,043 43,338 3.9%
9kg LPG bottles swapped
8

Liquigas LPG tolling (tonnes)
9

680,099
102,351
701,923
116,024
(3.1%)
(11.8%)

Metering
Electricity: advanced meters
1, 10
1,864,724 1,713,674 8.8%

creating a new energy future


market release
21 July 2021
1. As at 30 June.
2. Net number of customers added during the period, includes disconnected, reconnected
and decommissioned ICPs.
3. SAIDI (minutes) for the 3 months ended 30 June 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 30 June 2021 includes 177,397 meters managed
but not owned by Vector (30 June 2020: 168,793).
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