OPERATIONAL PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2022

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
YEAR ENDED 30 JUNE 2022


Operational performance highlights:

• 600,112 electricity network connections, up 1.6% on June 2021
• 117,995 gas network connections, up 1.3% on June 2021
• 6.0% growth of advanced meter fleet since 30 June 2021 (total of 1,976,111 now
installed across Aus/NZ)
• Over 489,000 advanced meters now installed in Australian market
Commentary:

The year ended 30 June 2022 has seen Auckland’s growth continue, with network
connection numbers growing across Vector’s electricity and gas networks. In the year to 30
June 2022, total electricity connection numbers rose by 1.6%, however, new electricity
connections in the year to 30 June 2022 were down 9.7% on the prior year reflecting the
impact of Covid-19 restrictions in Auckland. Electricity distributed volume for the period was
up 0.4% compared with the year ended 30 June 2021. Residential volumes were up 4.1%
while SME/I&C volumes were down 2.3%.

There has been a 1.3% increase in total connections on Auckland’s gas distribution network
over the 12 months to 30 June 2022. However, new gas connections in the 12 months to 30
June 2022 were down 18.2% on the prior 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 year to 30 June 2022 was
down 7.1% compared with the year to 30 June 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 6.0% in the year to 30 June 2022,
with a total fleet of 1,976,111. We have now installed more than 489,000 advanced meters
in Australia.

BottleSwap has seen a 7.4% decrease in the number of 9kg bottles swapped in the 12
months to 30 June 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 38.4% on the June 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 10.3% on the June 2021 comparative period due to higher customer demand.

SAIDI and SAIFI targets have been met for the second year running. Total SAIDI minutes for
the three months ended 30 June 2022 are slightly unfavourable compared to the same
market release
21 July 2022

creating a new energy future


market release
21 July 2022
period last year. This is largely due to the outages caused by a storm in June which triggered
a Major Network Event. These results are preliminary and subject to audit.

While Covid-19 has impacted Vector’s business operations during the year ended 30 June
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.


Year ended 30 June

2022 2021 % change
Electricity
Customers
1, 4
600,112 590,799 1.6%
New connections
Net movement in customers
2

13,538
9,313
14,995
10,739
(9.7%)
(13.3%)
Volume distributed (GWh)

8,361 8,325 0.4%
SAIDI (minutes) – 3 months to 30 June
3

Normal operations – unplanned
Normal operations - planned
21.7

11.9
4

21.3
11.6
1.9%
2.6%
Major network events 3.8 0.0 N/A
Total 37.4 32.9 13.7%

Gas Distribution
Customers
1, 4
117,995 116,472 1.3%
New connections
Net movement in customers
2

3,146
1,523
3,844
2,512
(18.2%)
(39.4%)
Distribution volume (PJ)

13.1 14.1 (7.1%)

Gas Trading
Natural gas sales (PJ)
5
5.3 8.6 (38.4%)
LPG volumes (tonnes) 44,330 45,043 (1.6%)
9kg LPG bottles swapped
6

Liquigas LPG tolling (tonnes)
629,651
112,913
680,099
102,351
(7.4%)
10.3%

Metering
Electricity: advanced meters
1, 7
1,976,111 1,864,724 6.0%

creating a new energy future


market release
21 July 2022
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 three months ended 30 June 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 year.
7. The number of advanced meters as at 30 June 2022 includes 182,895 meters managed
but not owned by Vector (30 June 2021: 177,397).
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