Vector and the Commerce Commission have reached a settlement agreement for historic breaches of network quality standards on Vector’s electricity network from 2017 to 2020.

Vector’s Group CEO Simon Mackenzie said, “We’re committed to complying with our regulatory quality limits and we’re pleased that since the period covered by the agreement, we’ve returned to full compliance. This represents a huge effort over several years by our staff and our field service providers to manage the challenges of Auckland’s significant growth, whilst also investing in network reliability and performance. Annual investment remains in the hundreds of millions of dollars per year.

“We’ve done this while continuing to expand the network to support a strongly growing Auckland, and making sure Auckland’s electricity infrastructure is able to support the nation’s response to the challenge of climate change. 

“We’ve cooperated with the Commission during their investigation, and are pleased to have agreed a mutually acceptable settlement that brings a final resolution to these historic breaches.” 

ENDS