Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Vector Network News

Vector Network News


AUCKLAND ELECTRICITY PRICING

Some consumers on our network have received letters from their retailers indicating that retail prices are increasing due to Vector’s lines charges increasing.

From April 1 this year, the distribution component of Vector’s lines charges has decreased by a weighted average of 2.4%. This follows similar but larger decreases from 1 April 2013 when the distribution component of line charges decreased by a weighted average of 8.43%.

Vector’s line charges are made up of a number of components. Some of these relate directly to our local electricity distribution network while others do not. The cost of the national transmission grid spanning New Zealand is levied on electricity distributors, including Vector. We add these costs to our own distribution costs and recover them from retailers.

The cost for the national transmission grid has been increasing over the last three years. This follows significant investment into the transmission system.

From April 1 this year, we have separately identified the costs for the national transmission grid in lines prices. Separating these charges will provide greater transparency of Vector’s distribution pricing.


NETWORK SUMMARY for week ending 2 March 2014
ELECTRICITY
A quiet week on the roads with no car v pole incidents reported.

Lines were reported down in Papatoetoe and Mt Wellington which caused only minor disruption to customers. Repairs were made quickly.

Contractors struck an electricity cable while carrying out work in Green Bay. Urgent repairs were made.

Our crews were called out to isolate the power at properties in Onehunga, Clendon, Manurewa and Papatoetoe after fires broke out at the residences. Crews also attended a car on fire next to a building in Kumeu.


GAS

Contractors struck gas pipes as they undertook work in Eden Terrace and Wattle Downs.


PROJECTS

The major gas rehabilitation project, which will see older low pressure gas pipes converted to new medium pressure pipes in Greenlane, Otahuhu and Papatoetoe, is making great progress. The project has taken six months already with the majority of the work due to be completed in May this year. It is part of a four year programme by Vector to upgrade all the gas pipes in these areas.

SHORTS

• Vector owns over 17,800 kilometres of overhead and underground lines in the greater Auckland area, and 12,752 of gas pipe lines, almost half of which supply gas to Auckland.

• Vector, proud sponsor of the Arena.


Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Strike: Lyttelton Port Workers Vote To Escalate Dispute

Members of the Rail and Maritime Transport Union (RMTU) at Lyttelton Port today voted to escalate their industrial action. Around 200 RMTU members have been operating an overtime ban since 17 December and today they endorsed a series of full withdrawals of labour at the port. More>>

ALSO:

Scoop Business: NZ Dollar Falls To 3-Year Low As Investors Favour Greenback

The New Zealand dollar fell to its lowest in more than three years as investors sold euro and bought US dollars, weakening other currencies against the greenback. More>>

ALSO:

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news