Operational performance for the 6 months ended 31 Dec 2022

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
6 MONTHS ENDED 31 DECEMBER 2022


Operational performance highlights:

• 606,802 electricity network connections, up 1.7% on December 2021
• 118,774 gas network connections, up 1.0% on December 2021
• 2. 03 million advanced meters now installed across NZ and Australia
• More than 525,000 advanced meters now installed in Australian market
Commentary:

The six months ended 31 December 2022 have seen Auckland’s growth continue, with
network connection numbers growing across Vector’s electricity and gas networks. In the
year to 31 December 2022, total electricity connection numbers grew by 1.7%, with new
electricity connections in the six months ended 31 December 2022 up 19.2% on the
comparative period in the prior year. This is largely due to the impact of COVID-19
restrictions in Auckland in the first half of 2022. Electricity distributed volume for the period
was up 1.4% compared with the six months ended 31 December 2021. Residential volumes
were down 3.7% while business volumes were up 5.9%.

There has been a 1.0% increase in total connections on Auckland’s gas distribution network
over the 12 months to 31 December 2022. New gas connections in the six months to 31
December 2022 were down 23.2% on the comparative period in the prior year. Gas
distribution volume for the six months to 31 December 2022 was up 2.9% compared with the
six months to 31 December 2021, driven by lower consumption of gas and reduced activity
from the industrial and commercial sectors given the COVID-19 restrictions in Auckland in
the first half of 2022.

Vector has continued to grow its advanced metering business here and in Australia, with a
total fleet of 2.03 million meters as at 31 December 2022. We have now installed more than
half a million advanced meters in Australia.

BottleSwap has seen a 13.0% decrease in the number of 9kg bottles swapped in the six
months to 31 December 2022 compared with the same period last year due to the loss of a
major customer.

Natural gas volumes are down 3.4% on the December 2021 comparative period due to slightly
lower wholesale sales. Liquigas LPG tolling volumes are up 4.4% on the December 2021
comparative period due to higher customer demand.

Total SAIDI minutes for the nine months ended 31 December 2022 are slightly unfavourable
compared to the same period last year. However, importantly, these are still within the
regulatory allowed limits. We note these results are preliminary and subject to audit.



market release
26 January 2023

creating a new energy future


market release
26 January 2023

6 months ended 31
December


2022 2021 % change
Electricity
Customers
1, 4
606,802 596,396 1.7%
New connections
Net movement in customers
2

7,873
6,690
6,603
5,597
19.2%
19.5%
Volume distributed (GWh)

4,374 4,313 1.4%
SAIDI (minutes) – 9 months to 31 December
3

Normal operations – unplanned
Normal operations - planned
69.6

36.6
65.6
31.0
6.1%
18.1%
Major network events 12.0 9.8 22.4%
Total 118.1 106.4 11.0%

Gas Distribution
Customers
1,4
118,774 117,628 1.0%
New connections
Net movement in customers
2

1,330
779
1,731
1,156
(23.2%)
(32.6%)
Distribution volume (PJ)

7.2 7.0 2.9%

Gas Trading
Natural gas sales (PJ)
5
2.8 2.9 (3.4%)
LPG volumes (tonnes) 22,535 25,240 (10.7%)
9kg LPG bottles swapped
6

Liquigas LPG tolling (tonnes)
309,855
56,908
356,098
54,489
(13.0%)
4.4%

Metering
Electricity: advanced meters
1, 7
2,026,600 1,925,478 5.3%

creating a new energy future


market release
26 January 2023

1. As at 31 December.
2. Net number of customers added during the period, includes disconnected, reconnected,
and decommissioned ICPs.
3. SAIDI (minutes) for the 9 months ended 31 December 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 December 2022 includes 184,557 meters
managed but not owned by Vector (31 December 2021: 180,969).
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