Vector customer numbers up, reaffirms guidance
Infrastructure company Vector, which owns the Auckland electricity distribution network, saw a small increase in gas and electricity customer connections for the nine months ended March 31.
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Infrastructure company Vector, which owns the Auckland electricity distribution network, saw a small increase in gas and electricity customer connections for the nine months ended March 31.
The company also said there was no change to guidance from its half-year result, which was for an annual profit at the top of analysts' forecasts, reported by Reuters as between $144 million and $168m at the time.
Vector posted a net profit of $370.5m last year, including the sale of its lines business in Wellington.
At the end of March, electricity connections were up 1% on a year earlier, at 527,096, chief executive Simon Mackenzie said.
Electricity volume for the nine months of 6077 gigawatt hours was a slight increase on the previous year, due to a 3 percent improvement in residential volume and smaller declines for industrial and other business volumes.
Gas customer numbers were up 2% at 148,990, largely due to higher residential connections.
Wholesale natural gas sales rose 5% to 23.3 petajoules, although gas liquid sales were down 13 percent due to a decline in production from the Kapuni treatment plant, he said.
Sales of local and imported LPG fell 27% to 64,196 tonnes.
The number of smart meters deployed for Genesis Energy and Contact Energy more than doubled to 97,240.
Favourable weather and control measures contributed to an average 66.8 minutes of electricity outages per customer due to normal operations, against a regulatory target of 104 minutes.
NZPA
Tue, 11 May 2010
Tue, 11 May 2010
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Vector customer numbers up, reaffirms guidance
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