Operational performance for the 6 months ended 31 Dec 2023

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
6 MONTHS ENDED 31 DECEMBER 2023


Operational performance highlights:

• 619,996 electricity network connections, up 2.2% on December 2022
• 120,302 gas network connections, up 1.3% on December 2022
• Distributed electricity volumes of 4,546 GWh, up 3.9% on comparative period in prior
year
• 316,884 BottleSwap 9kg gas bottles swapped during the period, up 2.3% on
comparative period in prior year
Commentary:

The six months ended 31 December 2023 has seen Auckland’s growth continue, with
network connection numbers growing across Vector’s electricity and gas networks. In the
year to 31 December 2023, total electricity connection numbers grew by 2.2%, with new
electricity connections for the six months up 12.5% on the comparative period in the prior
year. Electricity distributed volume for the period was up 3.9% compared with the six months
ended 31 December 2022 largely due to colder weather. Residential volumes were up 6.8%
while business volumes were up 1.6%.

There has been a 1.3% increase in total connections on Auckland’s gas distribution network
over the year to 31 December 2023. New gas connections in the six months to 31 December
2023 were down 9.5% on the comparative period in the prior year. Gas distribution volume
for the six months to 31 December 2023 was down 1.4% compared with the prior year, due
to lower demand from both the residential and industrial and commercial sectors.

BottleSwap has seen a 2.3% increase in the number of 9kg bottles swapped in the six
months to 31 December 2023 compared with the same period in the prior year. LPG volumes
for the six months are up 8.3% compared to the December 2022 period due to higher bulk
swap sales.

Natural gas volumes for the quarter are down 10.7 % on the December 2022 comparative
period due to reduced trading activity as historic contracts come to an end. Liquigas LPG
tolling volumes are down 3.1% on the December 2022 comparative period due to lower
customer demand.

While SAIDI minutes for normal operations for the nine months ended 31 December 2023 are
higher compared to the same period last year, these are still in line with the year-to-date
regulatory limit. We note these results are preliminary and subject to audit.

market release
30 January 2024

creating a new energy future


market release
30 January 2024

6 months ended 31
December


2023 2022 % change
Electricity
Customers
1, 4
619,996 606,802 2.2%
New connections
Net movement in customers
2

8,857
7,087
7,873
6,690
12.5%
5.9%
Volume distributed (GWh)

4,546 4,374 3.9%
SAIDI (minutes) – 9 months to 31 December
3

Normal operations – unplanned
Normal operations - planned
76.4

42.3
69.6
36.6
9.8%
15.6%
Major network events 14.3 12.0 19.2%
Total 133.0 118.2 12.5%

Gas Distribution
Customers
1, 4
120,302 118,774 1.3%
New connections
Net movement in customers
2

1,204
671
1,330
779
(9.5%)
(13.9%)
Distribution volume (PJ)

7.1 7.2 (1.4%)

Gas Trading
Natural gas sales (PJ)
5
2.5 2.8 (10.7%)
LPG volumes (tonnes) 24,415 22,535 8.3%
9kg LPG bottles swapped
6

Liquigas LPG tolling (tonnes)
316,884
55,126
309,855
56,908
2.3%
(3.1%)

creating a new energy future


market release
30 January 2024
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 nine months ended 31 December 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. 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
.