Operational performance for 3 months ended 30 Sept 2024

creating a new energy future


OPERATIONAL PERFORMANCE FOR THE
3 MONTHS ENDED 30 SEPTEMBER 2024

Operational performance highlights:

• 626,636 electricity network connections, up 1.6% on September 2023
• 120,556 gas network connections, up 0.6% on September 2023
• Liquigas LPG tolling for the quarter was 29,164 tonnes, up 1.4% on the prior
September quarter
1

Commentary:

The quarter ended 30 September 2024 has seen network connection numbers continue to
grow across Vector’s Auckland electricity and gas networks. In the year to 30 September
2024, total electricity connection numbers grew by 1.6%. However, new connections in the
quarter alone have been lower than the September 2023 quarter, reflective of the broader
economic slowdown. Electricity distributed volume for the period was down 1.1% compared
with the quarter ended 30 September 2023, largely driven by warmer temperatures.
Residential volumes were down 1.6% while business volumes were down 0.5%.

There has been a 0.6% increase in total connections on Auckland’s gas distribution network
over the year to 30 September 2024. However, new gas connections in the quarter to 30
September 2024 were down 34.5% on the September 2023 quarter. Gas distribution volume
for the quarter to 30 September 2024 was down 9.8% compared with the prior September
quarter, due to lower demand from both the residential and industrial and commercial
sectors.

The number of 9kg bottles swapped in our BottleSwap business for the September quarter
has remained consistent with the prior comparative period. LPG volumes for the quarter are
down 9.8% compared to the September 2023 quarter due to lower bulk swap sales.

Liquigas LPG tolling volumes are up 1.4% on the September 2023 quarter due to higher
customer demand
1
.

SAIDI minutes for normal operations (planned and unplanned) for the six months ended 30
September 2024 are slightly lower compared to the prior comparative period and are under
the year-to-date regulatory threshold. We note these results are preliminary and subject to
audit.


1
On 25 July 2024 , Vector entered into a conditional agreement for the sale of its LPG business Vector Ongas,
and the group’s 60.25% shareholding in Liquigas Limited, for $150.0 million. The agreement has a number of
regulatory approvals and commercial conditions to satisfy. It is anticipated this will take until late 2024/early 2025
to complete.
market release
21 October 2024

creating a new energy future


market release
21 October 2024

3 months ended 30
September


2024 2023 % change
Electricity
Customers
1, 4
626,636 616,493 1.6%
New connections
Net movement in customers
2

3,439
2,306
4,418
3,584
(22.2%)
(35.7%)
Volume distributed (GWh)

2,428 2,454 (1.1%)
SAIDI (minutes) – 6 months to 30 September
3

Normal operations – unplanned
Normal operations - planned
43.4

28.4
52.4
29.2
(17.2%)
(2.7%)
Major network events 16.3 10.8 50.9%
Total 88.1 92.4 (4.7%)

Gas Distribution
Customers
1, 4
120,556 119,859 0.6%
New connections
Net movement in customers
2

381
202
582
228
(34.5%)
(11.4%)
Distribution volume (PJ)

3.7 4.1 (9.8%)

Gas Trading
LPG volumes (tonnes) 12,299 13,640 (9.8%)
9kg LPG bottles swapped
5

Liquigas LPG tolling (tonnes)
139,299
29,164
139,259
28,765
0.0%
1.4%

creating a new energy future


market release
21 October 2024
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 2024 is an unaudited value and
subject to change.
4. Billable ICPs.
5. 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 and digital solutions company, which runs a
portfolio of businesses delivering energy, technology and communication services to more
than 620,000 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