OPERATIONAL PERFORMANCE FOR THE 3 MONTHS ENDED 30 SEPTEMBER

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
3 MONTHS ENDED 30 SEPTEMBER 2021


Operational performance highlights:

• 592,962 electricity network connections, up 1.7% on September 2020
• 116,840 gas network connections, up 2.0% on September 2020
• 8.5% growth of advanced meter fleet since 30 September 2020 (total of 1,895,550
now installed across Aus/NZ)
• More than 420,000 advanced meters now installed in Australian market
Commentary:

COVID-19 has impacted Vector’s business operations during the three months ended 30
September 2021. Auckland spent five weeks at alert level 4 from 17 August, while the rest of
New Zealand had two weeks at alert level 4 and at least a week at level 3 during the quarter.
In Australia, our business has 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 to 30 September 2021 has seen Auckland’s growth continue, with strong
network connection numbers across Vector’s electricity and gas networks. In the year to 30
September 2021, total electricity connection numbers grew by 1.7%. Electricity distributed
volume for the quarter was down 0.4% compared with the quarter ended 30 September
2020. Residential volumes were up 2.0% and SME/I&C volumes were down 2.6%.

Auckland’s continuing growth helped drive an uplift in gas distribution network customers,
with a 2.0% increase in total connections over the 12 months to 30 September 2021. Gas
connections in the September quarter were down 32.8% on the same quarter last year
reflecting the impact of COVID-19 restrictions in Auckland. Gas distribution volume for the
quarter was down 9.3% compared with the same period in 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 8.5% on September 2020, with a
total fleet of 1,895,550. We have now installed more than 420,000 advanced meters in
Australia.

BottleSwap has seen a 5.4% decrease in the number of 9kg bottles swapped in the quarter
to 30 September 2021 compared with the same period last year. BottleSwap volumes have
been negatively impacted by COVID-19 alert level restrictions.

Natural gas volumes are down 46.4% on the September 2020 comparative quarter, with the
reduction driven by lower retail sales including the loss of a large customer in June 2021.
Liquigas LPG tolling volumes are down 8.9% on the September 2020 comparative quarter due
to lower customer demand.

market release
21 October 2021

creating a new energy future


market release
21 October 2021
Total SAIDI minutes for the six months ended 30 September 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. The major network events SAIDI minutes
were 9.8 minutes higher due to Auckland storm events in early August.


3 months ended 30
September


2021 2020 % change
Electricity
Customers
1, 4
592,962 582,990 1.7%
New connections
Net movement in customers
2

2,420
2,163
3,839
2,930
(37.0%)
(26.2%)
Volume distributed (GWh)

2,338 2,348 (0.4%)
SAIDI (minutes) – 6 months to 30 September
3

Normal operations – unplanned
Normal operations - planned
46.4

19.9
48.0
22.6
(3.3%)
(11.9%)
Major network events 9.8 0.0 N/A
Total 76.1 70.6 7.8%

Gas Distribution
Customers
1,4
116,840 114,584 2.0%
New connections
Net movement in customers
2

644
368
959
624
(32.8%)
(41.0%)
Distribution volume (PJ)

3.9 4.3 (9.3%)

Gas Trading
Natural gas sales (PJ)
5
1.5 2.8 (46.4%)
LPG volumes (tonnes) 14,714 13,000 13.2%
9kg LPG bottles swapped
6

Liquigas LPG tolling (tonnes)
166,897
27,941
176,494
30,677
(5.4%)
(8.9%)

Metering
Electricity: advanced meters
1, 7
1,895,550 1,746,990 8.5%

creating a new energy future


market release
21 October 2021
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 2021 is an unaudited value and
subject to change.
4. Billable ICPs.
5. Excludes gas sold as gas liquids.
6. Number of 9kg LPG bottles swapped and sold during the period.
7. The number of advanced meters as at 30 September 2021 includes 179,147 meters
managed but not owned by Vector (30 September 2020: 170,861).
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