VCT - Operational performance for 9 months ended 31 March 2025

Wednesday 23rd April 2025

The nine months ended 31 March 2025 has seen network connection numbers continue to grow across Vector’s Auckland electricity and gas networks. In the year to 31 March 2025, total electricity connection numbers grew by 1.3%. However, new connections in the nine months ended 31 March 2025 have been 23.0% lower than in the comparative nine months to 31 March 2024, reflective of the broader economic slowdown. Electricity distributed volume for the period was down 1.5% compared with the nine months ended 31 March 2024. Residential volumes were down 2.5% while business volumes were down 0.8%.

There has been a 0.3% increase in total connections on Auckland’s gas distribution network over the year to 31 March 2025. However, new gas connections in the nine months to 31 March 2025 were down 30.0% on the comparative nine months to 31 March 2024. Gas distribution volume for the nine months to 31 March 2025 was down 9.3% compared with the nine months to 31 March 2024, due to lower demand from the residential, industrial and commercial sectors.

On 31 January 2025, Vector completed the sale of its LPG business Vector Ongas, and the group’s 60.25% shareholding in Liquigas Limited. This followed the sale of the group’s natural gas trading business on 1 July 2024. Accordingly, we are no longer reporting performance of the gas trading businesses.

SAIDI minutes for normal operations (planned and unplanned) for the twelve months ended 31 March 2025 are lower compared to the prior year and are under the annual regulatory threshold. We note these results are preliminary and subject to audit.

9 months ended 31 March

2025 2024 % change

Electricity

Customers(1, 4) 630,004 621,983 1.3%

New connections 9,480 12,308 (23.0%)

Net movement in customers(2) 5,674 9,074 (37.5%)

Volume distributed (GWh) 6,446 6,547 (1.5%)

SAIDI (minutes) – 12 months to 31 March(3)

Normal operations – unplanned 76.4 98.4 (22.4%)

Normal operations - planned 47.9 53.2 (10.0%)

Major network events 16.3 14.1 15.6%

Total 140.6 165.7 (15.1%)

Gas Distribution

Customers(1, 4) 120,644 120,273 0.3%

New connections 1,110 1,585 (30.0%)

Net movement in customers(2) 290 642 (54.8%)

Distribution volume (PJ) 8.8 9.7 (9.3%)

Notes

1. As at 31 March.

2. Net number of customers added during the period, includes disconnected, reconnected, and decommissioned ICPs.

3. SAIDI (minutes) for the twelve months ended 31 March 2025 is an unaudited value and subject to change.

4. Billable ICPs.

The Excel version can be found at: http://vector.co.nz/news

ENDS

Operational performance for 9mths end 31Mar25

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