Vector sold its Wellington network during the 2009 information disclosure year. Most of its information is only consistent from 2010.
Recent trends in revenue and demand
Vector’s revenue from distribution line charges has decreased slightly from 2010 to 2011. Revenue from line charges, which made up most of Vector’s revenue, decreased by less than 1% from 2008 to 2011, after controlling for inflation. Distribution line charge revenue from residential and smaller commercial customers decreased by 2%, and that from medium-sized customers increased by 2%. Most of Vector’s revenue is from residential and smaller commercial customers.
Demand on Vector’s network from residential and smaller commercial customers decreased from 2010 to 2011. The number of small customer connections decreased around 1% from 2010 to 2011, while their electricity consumption decreased around 3%.
Vector is a partially consumer-owned trust that is subject to information disclosure and price-quality regulation. It may choose to re-distribute part of its revenue to its consumer-owners or to community projects
Recent trends in expenditure
Vector’s total operating expenditure was flat after adjusting for inflation.
Investment in the network was higher in 2011 than in 2010. In 2011, Vector’s largest category of capital expenditure was asset replacement and renewal followed by system growth.
Network operating expenditure is forecast to stay the same over the coming years. Network capital expenditure is forecast to increase significantly over the coming years.
Recent trends in service reliability
The average duration and number of interruptions was below the industry average from 2008 to 2011. In 2008 and 2009 Vector’s average number and duration of interruptions were greater than Vectors’ regulatory limits. The average number and duration of interruptions were below the regulatory limits in 2010 and 2011.
Full analysis
The full analysis of Vector's performance from 2008 to 2011 can be downloaded below.
All dollar figures in our analysis are adjusted for inflation and expressed in 2011 dollars.
