OPERATIONAL PERFORMANCE FOR THE 9 MONTHS ENDED 31 MARCH

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
9 MONTHS ENDED 31 MARCH 2022


Operational performance highlights:

• 596,685 electricity network connections, up 1.5% on March 2021
• 117,658 gas network connections, up 1.4% on March 2021
• 7.1% growth of advanced meter fleet since 31 March 2021 (total of 1,951,398 now
installed across Aus/NZ)
• More than 468,000 advanced meters now installed in Australian market
Commentary:

The nine months to 31 March 2022 have seen Auckland’s growth continue, with network
connection numbers growing across Vector’s electricity and gas networks. In the year to 31
March 2022, total electricity connection numbers grew by 1.5%, however, new electricity
connections in the nine months to 31 March 2022 were down 14.2% on the same period last
year reflecting the impact of COVID-19 restrictions in Auckland. Electricity distributed
volume for the period was up 0.7% compared with the nine months ended 31 March 2021.
Residential volumes were up 5.9% while SME/I&C volumes were down 1.4%.

In line with expectations, there has been a 1.4% increase in total connections on Auckland’s
gas distribution network over the 12 months to 31 March 2022. However, new gas
connections in the nine months to 31 March 2022 were down 14.9% on the same period last
year reflecting the impact of new developments not connecting to gas amid uncertainty over
the Government’s response to the Climate Change Commission’s recommendations. Gas
distribution volume for the nine months to 31 March 2022 was down 7.6% compared with the
same period in 2021, driven by lower consumption of gas and reduced activity from the
industrial and commercial sectors.

Vector’s metering business continues to perform in an increasingly competitive market both
here and in Australia. Connection numbers increased by 7.1% in the year to 31 March 2022,
with a total fleet of 1,951,398. We have now installed more than 468,000 advanced meters
in Australia.

BottleSwap has seen a 6.8% decrease in the number of 9kg bottles swapped in the nine
months to 31 March 2022 compared with the same period last year. BottleSwap volumes
have been negatively impacted by COVID-19 alert level restrictions.

Natural gas volumes are down 37.9% on the March 2021 comparative period, with the
reduction driven by lower sales including the loss of a large customer in June 2021. Liquigas
LPG tolling volumes are up 5.0% on the March 2021 comparative period due to higher
customer demand.

Total SAIDI minutes for the twelve months ended 31 March 2022 are unfavourable compared to
last year due to outages driven by extreme weather conditions. However, these are still within the
market release
28 April 2022

creating a new energy future


market release
28 April 2022

regulatory threshold by 9% and notably favourable compared to earlier years. The major network
events SAIDI minutes were 55.3 minutes higher due to the impact of Cyclone Dovi in February
and Auckland storm events in early August. These results are preliminary and subject to audit.

While COVID-19 has impacted Vector’s business operations during the nine months ended
31 March 2022, Vector has continued to work to minimise the impacts of COVID-19 to its
operations and the safety and wellbeing of its staff in both New Zealand and Australia.


9 months ended 31
March


2022 2021 % change
Electricity
Customers
1, 4
596,685 588,018 1.5%
New connections
Net movement in customers
2

9,432
5,886
10,990
7,958
(14.2%)
(26.0%)
Volume distributed (GWh)

6,236 6,195 0.7%
SAIDI (minutes) – 12 months to 31 March
3

Normal operations – unplanned
Normal operations - planned
95.2

40.5
86.3
46.5
10.3%
(12.9%)
Major network events 55.3 0.0 N/A
Total 191.0 132.8 43.8%

Gas Distribution
Customers
1,4
117,658 116,014 1.4%
New connections
Net movement in customers
2

2,494
1,186
2,932
2,054
(14.9%)
(42.3%)
Distribution volume (PJ)

9.7 10.5 (7.6%)

Gas Trading
Natural gas sales (PJ)
5
4.1 6.6 (37.9%)
LPG volumes (tonnes) 33,974 32,539 4.4%
9kg LPG bottles swapped
6

Liquigas LPG tolling (tonnes)
494,348
80,787
530,348
76,934
(6.8%)
5.0%

Metering
Electricity: advanced meters
1, 7
1,951,398 1,822,510 7.1%

creating a new energy future


market release
28 April 2022

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 2022 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 31 March 2022 includes 181,991 meters managed
but not owned by Vector (31 March 2021: 175,058).
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