Auckland electricity growth continues, says Vector

Vector says it will announce its financial results for the year ended June 30, 2024, on Tuesday August 27.

The company says its results presentation will be held at 11am and broadcast via a live webcast.

Meanwhile, Vector has released its operational performance for the year to June 30, saying highlights included 624,330 electricity network connections (up 1.9% on June 2023), distributed electricity volumes of 8754GWh (up 2.4% on the prior year), 120,354 gas network connections (up 0.6% on June 2023), while LPG volumes for the year were 44,165 tonnes (up 5.4%).

The year to June 30 has seen Auckland’s growth continue, with network connection numbers growing across Vector’s electricity and gas networks, it says.

“However, new connections in the second half of FY24 alone have been lower than FY23 reflective of the broader economic slowdown.

“Electricity distributed volume for the period was up 2.4% compared with the year ended June 30, 2023, largely driven by colder temperatures, as well as an increased level of connections. Residential volumes were up 5.3% while business volumes were up 0.2%.”

Vector Gas Trading Limited completed the sale of remaining contracts in its natural gas business to Nova Energy Limited on July 1, 2024.

Vector says it is an innovative New Zealand energy company which runs a portfolio of businesses delivering energy and communication services to more than 600,000 residential and commercial customers across New Zealand.

Click here for more information.