Vector Network News: 1 October 2012

Vector Network News: 1 October 2012

PRICING

We’d like to shed a little light on your electricity bill. And we would like to help you understand our pricing. Vector owns and maintains the power lines which provide you with electricity from retailers.

We have been heavily regulated for the last ten years and are allowed to change line prices only once a year and by no more than the rate of inflation.
This year the regulated rate of inflation was 4.6% but we only increased line prices by 2.5%.

In April this year, transmission and distribution charges for an average household went up by approximately $74 per year. The Vector line component of this was only $15, with the remaining $59 comprising Transpower charges, industry levies and council rates, all of which regulation requires us to pass through directly to customers, without adding any further charges.

To find out how your electricity bill is calculated visit:
www.vector.co.nz/power-bill

NETWORKS SUMMARY for week ending 30 September 2012

ELECTRICITY
There were seven car v poles during the week including one on Waiheke Island where a truck backed into a pole. Faults crews also attended six building fires across Auckland in Point England, Otara, Buckland’s Beach, Hillcrest, Epsom North and Browns Bay in order to isolate the electrical supply for fire crews. Lines were repaired in Northcote Point and Greenlane. Faults crews also repaired underground electrical equipment in Red Beach, North Shore and a cable fault in Kohimarama.

GAS TRANSMISSION AND DISTRIBUTION
There were two third party strikes on our network this week - one in Te Puke when contractors hit a gas pipe while digging and fault crews also attended a gas pipe strike in Takanini, Auckland. In all cases Fault crews made sites safe and repaired the equipment. Please take care around our gas network and call 0508 B4 U WORK (248 967) or 0800 B4 U DIG if outside Auckland.

PROJECT UPDATE

Vector is working on an electricity cable upgrade project that will reinforce the power supply in the Mills Lane area of the CBD. The project involves upgrading the cables from 11 kV to 22 kV. This upgrade will make sure that our customers in that area of the city continue to receive a secure power supply both now and in the future.

Stage two of the project began in August and will continue through to early October 2012 and involves cable installation and the replacement of equipment. During this stage both Mills Lane (off Albert Street) and the intersection of Mills Lane and Swanson Street will be affected. The equipment replacement involves changing transformers and switchgear and Vector will be careful to make sure that any disruption is kept to a minimal.

So far, three out of our five distribution substations have been upgraded including those at Stamford Hotel & Stamford Plaza apartments, Quay West apartments and 131 Queen St (Centrecourt building). Each of these upgrades was carefully coordinated to make sure that possible delays were avoided.

The two remaining substations will be upgraded later this month.

SHORTS
• Vector owns over 17,737 kilometres of overhead and underground lines in the greater Auckland area, and 12,572 kilometres of gas pipe lines, with almost half supplying gas to Auckland.
• R&V Soundcheck is coming to the Arena in October. Vector, proud sponsor of the Arena.

The company owns and manages a unique portfolio which consists of electricity distribution, gas transmission and distribution, electricity and gas metering installations and data management services, natural gas and LPG and fibre optic networks.

Vector is listed on the New Zealand Stock Exchange with ticker symbol VCT. For further information, visit www.vector.co.nz

ENDS

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