Vector's Total Electricity, Gas Network Connections Up in September Quarter; New Connections Decline

MT Newswires Live2024-10-21

Vector's (NZE:VCT) total electricity network connections rose 1.6% to 626,636 in the three months ended Sept. 30 compared with the year-ago period, according to a Monday filing with the New Zealand bourse.

However, new connections alone plunged past 22% to 3,439, reflecting a broader economic slowdown, the filing stated. Electricity distributed volume fell 1.1% to 2,428 gigawatt hours due to warmer temperatures.

Gas network connections rose 0.6% to 120,556 during the period. New gas connections plunged almost 35% to 381. Gas distribution volume was down 9.8% to 3.7 petajoules.

Price (NZD): $3.85, Change: $+0.02, Percent Change: +0.52%

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