Operational performance highlights:

•    612,909 electricity network connections, up 2.1% on June 2022
•    119,631 gas network connections, up 1.4% on June 2022
•    Distributed electricity volumes of 8,552 GWh, up 2.3% on prior year 
•    Gas distribution volume of 13.6 PJ, up 3.8% on prior year

Commentary:

The year ended 30 June 2023 has seen Auckland’s growth continue, with network connection numbers growing across Vector’s electricity and gas networks. In the year to 30 June 2023, total electricity connection numbers grew by 2.1%, with new electricity connections up 17.2% on the prior year.  This was largely due to the impact of COVID-19 restrictions in Auckland in the first half of 2022.  Electricity distributed volume for the year was up 2.3% compared with the year ended 30 June 2022. Residential volumes were down 0.1% while business volumes were up 4.0%.
 
There has been a 1.4% increase in total connections on Auckland’s gas distribution network over the year to 30 June 2023. New gas connections in the year to 30 June 2023 were down 14.5% on the prior year. Gas distribution volume for the year to 30 June 2023 was up 3.8% compared with the prior year, as the first half of 2022 saw lower consumption of gas and reduced activity from the industrial and commercial sectors given the COVID-19 restrictions in Auckland. 
 
BottleSwap has seen a 6.4% decrease in the number of 9kg bottles swapped in the year to 30 June 2023 compared with the prior year due to the loss of a customer in the prior period.
 
Natural gas volumes are up 1.9% on the June 2022 comparative year.  Liquigas LPG tolling volumes are down 5.7% on the June 2022 comparative year due to lower customer demand.
 
SAIDI minutes for normal operations for the three months ended 30 June 2023 is unfavourable compared to the same period last year but is under the regulatory threshold.  We note these results are preliminary and subject to audit.
 
During the year ended 30 June 2023 Vector continued to grow the advanced metering business here and in Australia, with a total fleet of 2.09 million meters as at 30 June 2023 including more than 575,000 advanced meters in Australia.

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 (QIC).
Vector looks forward to working with QIC to grow the smart metering platform across Australia and New Zealand.  Given the sale, we will not be disclosing installed meter numbers in future operating statistics market releases.