Operational performance for the 9 months ended 31 Mar 2023

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
9 MONTHS ENDED 31 MARCH 2023


Operational performance highlights:

• 609,550 electricity network connections, up 2.2% on March 2022
• 119,391 gas network connections, up 1.5% on March 2022
• 2.05 million advanced meters now installed across NZ and Australia
• More than 545,000 advanced meters now installed in Australian market
Commentary:

The nine months ended 31 March 2023 have seen Auckland’s growth continue, with network
connection numbers growing across Vector’s electricity and gas networks. In the year to 31
March 2023, total electricity connection numbers grew by 2.2%, with new electricity
connections in the nine months ended 31 March 2023 up 20.9% 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 1.7% compared with
the nine months ended 31 March 2022. Residential volumes were down 1.6% while business
volumes were up 4.3%.

There has been a 1.5% increase in total connections on Auckland’s gas distribution network
over the year to 31 March 2023. New gas connections in the nine months to 31 March 2023
were down 18.3% on the comparative period in the prior year. Gas distribution volume for the
nine months to 31 March 2023 was up 4.1% compared with the nine months to 31 March
2022, as the first half of 2022 saw lower consumption of gas and reduced activity from the
industrial and commercial sectors given the COVID-19 restrictions in Auckland.

Vector has continued to grow its advanced metering business here and in Australia, with a
total fleet of 2.05 million meters as at 31 March 2023. We have now installed more than
545,000 advanced meters in Australia.

BottleSwap has seen a 7.4% decrease in the number of 9kg bottles swapped in the nine
months to 31 March 2023 compared with the same period last year due to the loss of a major
customer.

Natural gas volumes are down 2.4% on the March 2022 comparative period due to slightly
lower wholesale sales. Liquigas LPG tolling volumes are down 1.4% on the March 2022
comparative period due to lower customer demand.

Vector’s major network events SAIDI result has been severely impacted during the last quarter
by extreme flooding in the Auckland area on 27 January 2023, which was followed by Cyclone
Gabrielle starting on 12 February 2023. Both events compounded to cause significant damage
to our network, along with challenges such as accessing some areas due to slips, fallen trees
and unstable roads. Parts of the network remain inaccessible.

market release
26 April 2023

creating a new energy future


market release
26 April 2023

SAIDI minutes for normal operations for the twelve months ended 31 March 2023 is
unfavourable compared to last year and exceeds the regulatory threshold. Vector, along with
other EDBs impacted by Cyclone Gabrielle, is in a dialogue with the Commerce Commission
given the exceptional conditions. We note these results are preliminary and subject to audit.

9 months ended 31
March


2023 2022 % change
Electricity
Customers
1, 4
609,550 596,685 2.2%
New connections
Net movement in customers
2

11,403
9,438
9,432
5,886
20.9%
60.3%
Volume distributed (GWh)

6,344 6,236 1.7%
SAIDI (minutes) – 12 months to 31 March
3

Normal operations – unplanned
Normal operations - planned
118.8

43.6
92.4
40.5
28.6%
7.7%
Major network events 316.6 59.7 430.3%
Total 479.0 192.6 148.7%

Gas Distribution
Customers
1,4
119,391 117,658 1.5%
New connections
Net movement in customers
2

2,037
1,396
2,494
1,186
(18.3%)
17.7%
Distribution volume (PJ)

10.1 9.7 4.1%

Gas Trading
Natural gas sales (PJ)
5
4.0 4.1 (2.4%)
LPG volumes (tonnes) 31,221 33,974 (8.1%)
9kg LPG bottles swapped
6

Liquigas LPG tolling (tonnes)
457,722
79,674
494,348
80,787
(7.4%)
(1.4%)

Metering
Electricity: advanced meters
1, 7
2,053,606 1,951,398 5.2%

creating a new energy future


market release
26 April 2023

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 2023 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 2023 includes 184,782 meters managed
but not owned by Vector (31 March 2022: 181,991).
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
Matthew Britton, Senior Communications Partner, Vector
Matthew.Britton@vector.co.nz, 021 224 2966


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