Vector to Undertake Strategic Review of Metering Business

Market Release
6 April 2022
Vector to Undertake Strategic Review of
Metering Business

New Zealand-based energy company Vector has today announced a strategic review of its
smart metering business, which provides innovative smart meter data services from more
than two million electricity and gas meters throughout New Zealand and Australia.
Vector Group Chief Executive Simon Mackenzie said, “Smart metering has become a critical
part of the transformation and digitalisation of the energy sector around the world, and we
are seeing strong demand from investors for these businesses.
“Vector is an industry leader, and has spent the past 13 years growing Vector Metering into a
substantial and successful business. Our work is recognised by global organisations,
including Amazon Web Services with whom we have a strategic alliance.
“In recent times, a number of highly credible organisations have made unsolicited
approaches to us expressing an interest in partnering with us and investing in the New
Zealand and Australia metering business. In this context Vector considers it prudent to
assess options for its metering business.”
The strategic review is expected to take a number of months, with Citi appointed to assist
with the process. No decisions will be made until the completion of the process.
ENDS


Investor contact
Jason Hollingworth, Chief Financial Officer
+64 24 312 928
Jason.hollingworth@vector.co.nz

Media contact
Matt Britton, Senior Communications Partner
+64 21 224 2966
Matthew.britton@vector.co.nz


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