Orion reports record growth

Central Canterbury electricity distribution company Orion has announced a record number of new customers were connected to its network in the year to March 31.

More than 4100 new residences and businesses were connected to the local power supply, reflecting strong growth in central Canterbury, Orion says in its newly released annual results.

That’s helped lead to a $33 million profit after tax for the year to March 31.

“We have been connecting around 3000 new customers per year for the past 20 years and had expected that to level off by now. Last year was bigger than ever for us,” Orion Group interim chief executive Jono Brent says.

“As New Zealand addresses climate change and transitions to a low-carbon economy, the electricity sector is a critical part of the solution.

“We’re one of the first lines companies in New Zealand to install street level monitoring of energy usage patterns so we are prepared for the take up of EVs, and home energy generation, storage and sharing technology,” Brent adds.

“We are also the first electricity company in New Zealand to commit to being carbon neutral for corporate emissions by June 2022.”

Orion has stepped up plans to upgrade the network to serve increasing customers and ensure it is ready to support the move to electricity as a more sustainable energy source.

The company delivered $30m in dividends to local community shareholders Christchurch City Council through Christchurch City Holding Limited, and the Selwyn District Council.