Operational performance for the year ended 30 June 2023

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
YEAR ENDED 30 JUNE 2023


Operational performance highlights:

• 612,909 electricity network connections, up 2.1% on June 2022
• 119,631 gas network connections, up 1.4% on June 2022
• Distributed electricity volumes of 8,552 GWh, up 2.3% on prior year
• Gas distribution volume of 13.6 PJ, up 3.8% on prior year
Commentary:

The year ended 30 June 2023 has seen Auckland’s growth continue, with network
connection numbers growing across Vector’s electricity and gas networks. In the year to 30
June 2023, total electricity connection numbers grew by 2.1%, with new electricity
connections up 17.2% on the prior year. This was largely due to the impact of COVID-19
restrictions in Auckland in the first half of 2022. Electricity distributed volume for the year
was up 2.3% compared with the year ended 30 June 2022. Residential volumes were down
0.1% while business volumes were up 4.0%.

There has been a 1.4% increase in total connections on Auckland’s gas distribution network
over the year to 30 June 2023. New gas connections in the year to 30 June 2023 were down
14.5% on the prior year. Gas distribution volume for the year to 30 June 2023 was up 3.8%
compared with the prior year, 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.

BottleSwap has seen a 6.4% decrease in the number of 9kg bottles swapped in the year to
30 June 2023 compared with the prior year due to the loss of a customer in the prior period.

Natural gas volumes are up 1.9% on the June 2022 comparative year. Liquigas LPG tolling
volumes are down 5.7% on the June 2022 comparative year due to lower customer demand.

SAIDI minutes for normal operations for the three months ended 30 June 2023 is u nfavourable
compared to the same period last year but is under the regulatory threshold. We note these
results are preliminary and subject to audit.

During the year ended 30 June 2023 Vector continued to grow the advanced metering
business here and in Australia, with a total fleet of 2.09 million meters as at 30 June 2023
including more than 575,000 advanced meters in Australia.
On 30 June 2023 Vector completed the sale of a 50% interest in its New Zealand and
Australian metering business to investment vehicles managed and advised by QIC Private
Capital Pty Limited (QIC).
market release
24 July 2023

creating a new energy future


market release
24 July 2023
Vector looks forward to working with QIC to grow the smart metering platform across Australia
and New Zealand. Given the sale, we will not be disclosing installed meter numbers in future
operating statistics market releases.


Year ended 30 June

2023 2022 % change
Electricity
Customers
1, 4
612,909 600,112 2.1%
New connections
Net movement in customers
2

15,865
12,797
13,538
9,313
17.2%
37.4%
Volume distributed (GWh)

8,552 8,361 2.3%
SAIDI (minutes) – 3 months to 30 June
3

Normal operations – unplanned
Normal operations - planned
24.7

15.3
21.7
11.9
13.8%
28.6%
Major network events 10.8 3.8 184.2%
Total 50.8 37.4 35.8%

Gas Distribution
Customers
1, 4
119,631 117,995 1.4%
New connections
Net movement in customers
2

2,691
1,636
3, 146
1,523
(14.5%)
7.4%
Distribution volume (PJ)

13.6 13.1 3.8%

Gas Trading
Natural gas sales (PJ)
5
5.4 5.3 1.9%
LPG volumes (tonnes) 41,896 44,330 (5.5%)
9kg LPG bottles swapped
6

Liquigas LPG tolling (tonnes)
589,207
106,496
629,651
112,913
(6.4%)
(5.7%)

Metering
Electricity: advanced meters
1, 7
2,090,589 1,976,111 5.8%

creating a new energy future


market release
24 July 2023
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 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 year.
7. On 30 June 2023 Vector completed the sale of a 50% interest in its New Zealand and
Australian metering business to investment vehicles managed and advised by QIC Private
Capital Pty Limited. Given the sale, we will not be disclosing installed meter numbers in
future operating statistics market releases.
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 600,000 residential and
commercial customers across New Zealand and the Pacific. Vector has a leading role 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