Operational performance for the 3 months ended 30 Sept 2023

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
3 MONTHS ENDED 30 SEPTEMBER 2023


Operational performance highlights:

• 616,493 electricity network connections, up 2.2% on September 2022
• 119,859 gas network connections, up 1.2% on September 2022
• Distributed electricity volumes of 2,454 GWh, up 4.2% on comparative quarter in prior
year
• Gas distribution volume of 4.1 PJ, up 2.5% on comparative quarter in prior year
Commentary:

The three months ended 30 September 2023 has seen Auckland’s growth continue, with
network connection numbers growing across Vector’s electricity and gas networks. In the
year to 30 September 2023, total electricity connection numbers grew by 2.2%, with new
electricity connections for the quarter up 13.9% on the comparative period in the prior year.
Electricity distributed volume for the quarter was up 4.2% compared with the quarter ended
30 September 2022 largely due to colder weather. Residential volumes were up 7.0% while
business volumes were up 1.7%.

There has been a 1.2% increase in total connections on Auckland’s gas distribution network
over the year to 30 September 2023. New gas connections in the quarter to 30 September
2023 were down 17.7% on the comparative period in the prior year. Gas distribution volume
for the quarter to 30 September 2023 was up 2.5% compared with the prior year, due to
increased demand from the industrial and commercial sectors.

BottleSwap has seen a 0.2% increase in the number of 9kg bottles swapped in the quarter to
30 September 2023 compared with the prior year’s September quarter. LPG volumes for the
quarter are up 17.1% compared to the September 2022 quarter due to higher bulk swap
sales.

Natural gas volumes for the quarter are down 7.1 % on the September 2022 comparative
quarter due to lower retail sales. Liquigas LPG tolling volumes are down 10.7% on the
September 2022 comparative quarter due to lower customer demand.

While SAIDI minutes for normal operations for the six months ended 30 September 2023 are
higher compared to the same period last year, these are still in line with the year-to-date
regulatory threshold. We note these results are preliminary and subject to audit.
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 this,
or any future, operating statistics market release.

market release
26 October 2023

creating a new energy future


market release
26 October 2023

3 months ended 30
September


2023 2022 % change
Electricity
Customers
1, 4
616,493 603,183 2.2%
New connections
Net movement in customers
2

4,418
3,584
3,879
3,071
13.9%
16.1%
Volume distributed (GWh)

2,454 2,355 4.2%
SAIDI (minutes) – 6 months to 30 September
3

Normal operations – unplanned
Normal operations - planned
52.4

29.2
45.8
24.9
14.4%
17.3%
Major network events 10.8 8.1 33.3%
Total 92.4 78.9 17.1%

Gas Distribution
Customers
1, 4
119,859 118,392 1.2%
New connections
Net movement in customers
2

582
228
707
397
(17.7%)
(42.6%)
Distribution volume (PJ)

4.1 4.0 2.5%

Gas Trading
Natural gas sales (PJ)
5
1.3 1.4 (7.1%)
LPG volumes (tonnes) 13,640 11,645 17.1%
9kg LPG bottles swapped
6

Liquigas LPG tolling (tonnes)
139,259
28,765
139,097
32,204
0.2%
(10.7%)

creating a new energy future


market release
26 October 2023
1. As at 30 September.
2. Net number of customers added during the period, includes disconnected, reconnected,
and decommissioned ICPs.
3. SAIDI (minutes) for the six months ended 30 September 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.

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
.